Hi Community,
We are aware of a payment file response issue impacting ANZ transactions.
Workspace(s) that have settled and include a disbursement to ANZ will likely remain in a status of 'Disbursing' for longer than usual until the underlying issue is resolved.
It’s important to note that disbursement of funds happens after a transaction has settled. That is, you don’t need to wait for funds to clear to consider the settlement finalised and to hand over keys to the purchaser.
The reason for this is that once a property transfer reaches a status of ‘settled’ on PEXA, the purchaser’s funds have been moved to the receiving bank at RBA (Reserve Bank of Australia) level. The receiving bank holds the funds on behalf of the vendor and attends to disbursement after settlement.
Please note, disbursement line items for other financial institutions will disburse as normal. PEXA is working with ANZ to resolve the issue.
Kind regards
Georgina
