Good news – the $99 million threshold on PEXA transfers has now been removed. The new threshold for PEXA transfers is $9 billion. This means that any property equal to or less than this amount can now be settled through PEXA.
However, when entering Source Funds in a Trust Account, please keep in mind that:
Each line item in Source Funds is to be equal to or less than $99 million.
Members should create multiple line items to cover the total Source Funds rather than enter it all together in one-line item.
The same also applies for destination line items.
For example, if the total Source Funds exceeds $99 million, you will need to create multiple line items to cover the total amount.
For any questions regarding this change, please comment below.