Announcements | Outages, Service Charter updates etc

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 

Hi Community, 

The Reserve Bank of Australia (RBA) will be closed due to the Queen’s Birthday holiday in New South Wales, Victoria and South Australia on 10 June. As a result financial settlement is not available for all states. Lodgement is still available in New South Wales, Victoria, Western Australia and Queensland.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays 

Cheers

Aoife

With PEXA Release 10 going live on Monday 13 May 2019, the Service Charter and Participation Agreement will be updated. You can access clean and marked up versions of these documents via the links and attachments below.

Service Charter

Clean version

Marked up version: see attached

Participation Agreement

Clean version

Marked up version: see attached

Kind regards,
Jarrod

Following this week's feedback session with Westpac, the St George, Bank of Melbourne, BankSA & FMS teams are hosting a session Today between 11:30am-12:30pm AEST.

This is another great opportunity for industry participants to share their tips on what these Financial Institutions can work on and let them know the things you'd like to see more of.  St George, Bank of Melbourne, BankSA & FMS will be online responding to your feedback and answering your questions during this hour.

Hi Community, 

During WA Day on 3 June, financial settlement and lodgement will not be available for Western Australia. 

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays.

Kind regards

Aoife

Hi Community,

During Labour Day, financial settlement and lodgement will not be available for Queensland.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays

Cheers

Aoife

Today, Westpac is hosting a feedback session here on Community to improve the settlement experience and discuss issues important to the industry. 

This is a great opportunity for members to share their tips on what Westpac can work on and the things you've come across that you really appreciated while working with the Westpac team and other Financial Institutions. 

The team from Westpac are online, ready to answer questions and respond to your feedback for the next hour. Just comment below.

Hi Community, 

In recent months, you may have been prompted to review a PEXA transaction, asking how easy you found completing a specific transaction on PEXA. 

This review involves giving practitioners and banks from your particular transaction a satisfaction score between 0-10. These scores contribute to an individual organisation’s overall ‘Peer Rating’. 

The Peer Rating functions much like an Uber or Airbnb review and ensures constructive two-way feedback, helping encourage industry best practice and foster a smooth settlement experience for all parties. 

We’ve provided some additional details below to help you better understand Peer Ratings in PEXA. 

What is a Peer Rating? 

A Peer Rating is the overall average score from the total ratings an individual organisation has received via PEXA’s in-platform transaction reviews.  

• A Peer Score is a one off review
• A Peer Rating is your overall rank 

What does my Peer Rating mean? 

Your Peer Rating is composed of scores given by firms who have been surveyed on a PEXA transaction involving you. These are between 0-10, with 10 being the highest possible score. 

A high score and overall rating indicates that a firm is frequently marked by peers as easy to settle with, through feedback from PEXA’s in-platform surveys. 

Who can see my rating? 

Only you will be able to see your Peer Rating. We will be introducing this ability to see your peer rating over the next few months. In the meantime, top rated members will be recognised by PEXA.  

What drives a high Peer Rating and how can I achieve one? 

High scores are typified by key factors such as:  

• Prompt, clear communication between parties 
• Timely completion of settlement tasks, with particular reference to the Transfer Guidelines 
• Additional instances of collaboration and peer support 

Firms who consistently work to meet these criteria will help facilitate seamless digital settlements and receive higher ratings. 

How can I give / receive a rating? 

We survey a certain percentage of PEXA transactions. You may be prompted to complete a survey where you’ll be asked to rate the practitioners and banks involved in your transaction. 

If you have any further questions on Peer ratings, please reply to this thread below. 

Kind Regards,

Lisa Dowie

PEXA, Chief Customer Officer

Dear Community,

Please note that this does not affect all PEXA members. If it does not affect you, please ignore this message.

PEXA has been advised that certain Antivirus software is flagging the PEXA signing application for some PEXA members.

If you happen to be affected, you will notice a red banner on the signing page informing you “PEXA Digital Signing software is required to sign documents using (your browser). Please click here to install the latest version.”

If you are a Financial Institution, please contact your tech support for assistance.

Please ensure that you are using the most recent version of the Digital Certificate software, accessible from the link above. For the installation process of the PEXA Signing Application, please refer to Step 3 for Chrome or Step 2 for Internet Explorer. Should you be already running the most recent version, you will be given the option to repair or remove your current software. If you are not running the most recent version, you will be prompted to update the software. In order to update your software, you may require administrator rights.

Note that if you are unable to effect this change yourself, you may need to contact your internal IT team or external IT consultant.

If you still cannot digitally sign after the software update, you may be required to whitelist the PEXA Signing Application.

Please contact PEXA Support directly, if you require further assistance.

Hi Community,

During the Easter Holidays and Anzac Day, financial settlement isn’t available. However, Lodgement is still available in Victoria and New South Wales.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays

Cheers

Aoife

Hi Community,

The end of daylight savings is approaching, and the RBA(Reserve Bank of Australia) has issued its changes to RITS (Reserve Bank Information & Transfer System) session times.

As a result, settlement slots in New South Wales will be reduced.

Please see the altered settlement hours below:

Kind regards

Aoife 

Hi Community,

The end of daylight savings is approaching, and the RBA(Reserve Bank of Australia) has issued its changes to RITS (Reserve Bank Information & Transfer System) session times.

As a result, settlement slots in New South Wales will be reduced.

Please see the altered settlement hours below:

Kind regards

Aoife 

PEXA is giving away tickets to this year's AIC National Conference with flights and accommodation on us!
Just comment below, describing in 25 words or less your favourite PEXA memory.
We're looking for the most interesting and genuine responses and winners for the competition will be selected on the 19th of April. What's your favourite PEXA memory?

PEXA Promotion Terms – AIC National Conference (‘Promotion’)

1. The Promotion is conducted by Property Exchange Australia Limited A.B.N. 92 140 677 792 of Tower Four, Level 16, 727 Collins Street, Docklands, VIC 3008 (‘Promoter’).
2. By participating in the Promotion, the entrant agrees to be bound by these terms.
3. Entrants must satisfy the following criteria in order to be eligible to win the prize described in paragraph 7:
   1. the entrant must be a PEXA Member;
   2. the entrant must be at least 18 years of age; and

• the entrant must not be an employee or contractor of the Promoter.

4. The Promotion commences on 27 March 2019 and closes at 4 p.m.(Melbourne time) on 18 April 2019 (‘Promotion Period’).
5. In order to enter the Promotion, the entrant must, during the Promotion Period:
   1. submit a response to the following statement: “describe your favourite PEXA memory” using 25 words or less; and
   2. use the entry form provided by the Promoter.
6. Only one entry per person is permitted.
7. There will be two winners and two prizes. Each winner will be entitled to the following prize:
   1. one entry ticket to Australian Institute of Conveyancers National Conference 2019 to be held in Sydney from 3 to 5 May 2019 (value is approx. $700); and
   2. accommodation and airfares for one person to the value of $2,000.[1]
8. The prizes are non-transferable, cannot be exchanged and cannot be substituted for cash.
9. The two winners will be selected by the Promoter on 19 April 2019 (‘Judgement Date’).The entries will be judged according to the most interesting and genuine responses to the statement posed in paragraph 5.
10. The winners will be notified on the Judgement Date or as soon as reasonably practical, using the contract details provided by the entrant.
11. If a prize not claimed within one week of the Judgment Date, the winner will forfeit the prize and PEXA reserves the right to select a new winner.
12. Personal information such as an entrant’s name and email address will be collected by the Promoter. If an entrant does not provide this information to the Promoter, then the entrant will not be eligible to enter the Promotion. PEXA’s Privacy Policy is available here https://www.pexa.com.au/privacy-policy. By entering the Promotion, the entrant consents to the Promoter:
    1. using and disclosing their personal information for the purposes of administering the promotion and advertising the winner; and
    2. disclosing their personal information to the Australian Institute of Conveyancers (‘AIC’) for the purposes of receiving promotional material from AIC regarding the AIC National Conference (including by email).
13. The Promoter’s decision is final and no correspondence will be entered into.
14. The Promotion is a game of skill. Chance plays no part in determining the winner.
15. The Promoter reserves the right to:

1. disqualify any entrant who submits an entry that is not in accordance with these terms; and
2. disqualify any entrant who submits an entry which infringes a third party’s intellectual property rights or includes profanity, is insulting or inflammatory or includes defamatory language.

16. If the prize is unavailable for any reason, PEXA will substitute an alternative prize of no lesser value.
17. By entering the Promotion, each entrant releases Instagram, Facebook and LinkedIn (‘the Social Media Platforms’) from all liability in relation to the competition and acknowledges that the competition is in no way sponsored, endorsed or administered by, or associated with, the Social Media Platforms.

 

1If the winner is Sydney based, the accommodation offer still applies but a $500 restaurant voucher will be provided instead of airfares.

PEXA Flow will guide you through the steps required to easily settle your workspace.

Hi Community,

Good news! You can still lodge and settle during Vic Labour Day.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays

Hi Community,

During the South Australia’s March Public Holiday, financial settlement and lodgement will not be available in this state.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays

Hi Community,

During the Western Australia Labour Day public holiday, financial settlement and lodgement will not be available in this state.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays

Hi Community,

PEXA is aware of an issue preventing certain users from signing on the platform. This is due to a small number of antivirus software providers marking the PEXA signing screen as ‘suspicious’ in error.

If you urgently need to sign and are currently unable to do so, please call the PEXA Support Centre on 1300 084 515 and a temporary workaround will be provided.

A resolution is expected be rolled out to amend the issue later today.

Kind regards,
Jarrod

PEXA Release 9.1 went live on Monday 4 February 2019 and the Service Charter and Standard Operating Environment Requirements have been updated accordingly. You can access clean and marked up versions of these documents via the links and attachments below.

Service Charter

Clean version

Marked up version: see attached

Standing Operating Environment Requirements

Clean version

Marked up version: see attached

Hi Community,

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.

PEXA’s Source Account

The PEXA Source Account is available to eligible PEXA Subscribers who do not already operate a trust account with a bank that is integrated with PEXA. A list of banks who are payment-integrated with PEXA may be found here. It enables practitioners to provide funds to an electronic settlement where they are representing an incoming proprietor. It is important to note that the Source Account is not available for use when acting in any other role to provide funds to settlement.

3 days before settlement

PEXA’s Service Charter (section 2.4) requires cleared funds to be available in PEXA’s Source Account no fewer than three business days before settlement day.

If cleared funds are not available on time, parties may be impacted by a delay in settlement, potentially leading to stress for practitioners and their clients.

What to do

You may consider over-estimating the amount of funds required to be transferred to the Source Account and recommending to your client that they transfer the estimated amount, with additional funds to be disbursed back to the client via the Financial Settlement Schedule.

Note, the sum deposited into the account must match the Source Line Item created in PEXA. If not, funds will be unavailable for settlement. Further, funds can only be received electronically. Cheques and cash are not accepted.

PEXA understands that there may be times when a practitioner’s client doesn’t complete the transfer of funds within the required timeframe for reasons outside of the practitioner’s control. In the unavoidable circumstance that funds are transferred into the Source Account on the day of settlement, there is no guarantee that they will be available for settlement.

An easy-to-follow guide and answers to frequently asked questions can also be found on Community for more information.

Hi Community!

Each year we recognise the superstars of the e-Conveyancing Community by making them Superusers! This year, we want you, the Community, to nominate someone you believe should be rewarded for their contributions.

Our Superusers will once again get the chance to visit the PEXAPlex in Melbourne, participate in Open Day and hang out with the Community team. We had a lot of fun with our Superusers last year, check out this post to see what the 2018 group got up to.

If you would like to nominate anonymously, please message me. Otherwise, comment below who you believe is a deserved Superuser and mention how they made a difference in Community during 2018.

We’d like to thank everyone for their contributions to the Community last year – looking forward to interacting with you all again this year!

Regards,

The Community Team

When opening a PEXA Workspace, an important step is to verify that the information returned from the Land Registry is accurate. This information will be visible on the Land Title screen.

The good news is, that post opening the Workspace, an automated Title Activity Check (TAC) on the land title will be performed periodically, made possible by the digital integration between PEXA and the respective Land Registry. You will be notified should there be any activity identified on the title.

Sometimes, when activity is detected, the information displayed on the land title screen may require updating. A common example is when the TAC indicates that a survivorship or transmission has been lodged and there has been a change in proprietorship. Note that in this particular situation, the Land Title information requires updating in order for lodgement verification to be successful, and for settlement to proceed. Please note that an Information Re-supply is only required when the change in title particulars will prevent lodgement. So, before you request an Information Re-supply, check your TAC to help you decide if you need one.

Should you request an Information Re-supply, a fee of $5.50* will be debited from your fee paying account as per the Pricing Schedule.

*fees are waived until 28 February 2019

Hi Community,

During the Australia Day public holiday, that falls on 28 Jan 2019, financial settlement will not be available. Lodgement will still be available in Victoria and New South Wales.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays

Hi Community!

The new PEXA Marketplace is alive and well, offering members in NSW, the ability to purchase a title search through one of our partners – either Equifax or CITEC – with information mapping directly into your PEXA Workspace.

The Marketplace will shortly expand to include additional title search providers as PEXA partners with existing market participants to provide you choice, transparency and efficiency in completing a property transaction, ultimately allowing you to reduce your client’s disbursements.

Login to Marketplace through PEXA Plus using your PEXA login details.

The Marketplace is now live in NSW and will roll out in VIC, WA, SA and Queensland in 2019.

Susanne Mosely, Managing Director, Hunter Legal & Conveyancing talks about her experience in using Marketplace.

How long have you been using Marketplace?

I started using Marketplace when PEXA began the pilot programme last year.

Hi

The SRO will be conducting two webinars next week demonstrating Duties Online and the Digital Duties Form.

Our two free webinars on Wednesday 23 January will give you a great overview of using Duties Online and completing a Digital Duties Form, whether you are new to e-conveyancing or would benefit from a refresher course.

The first webinar, from 10am-11am, is an overview of How to use Duties Online, focusing on common processes including:

• Navigating the Duties Online system
• Claiming and certifying PEXA transactions
• Submitting complex transactions for SRO Duty Determination
• Searching for and finalising transactions
• Lodging refund applications
• Resetting passwords

The second webinar, also on Wednesday 23 January, but from 5.30-6.30pm, explores the Digital Duties Form, including:

• How to create a Digital Duties Form within Duties Online
• Completing the form for the vendor's representative
• Completing the form for the purchaser's representative
• Online signing
• Making changes to the form

During this webinar, your presenter will provide a live demonstration of completing the Digital Duties Form.

Participants can type questions to our presenters during each webinar.

Register for one or both webinars now so you don't miss out as places are limited.

Hi Community!

Each year we recognise the superstars of the e-Conveyancing Community by making them Superusers! This year, we want you, the Community, to nominate someone you believe should be rewarded for their contributions.

Our Superusers will once again get the chance to visit the PEXAPlex in Melbourne, participate in Open Day and hang out with the Community team. We had a lot of fun with our Superusers last year, check out this post to see what the 2018 group got up to.

If you would like to nominate anonymously, please message me. Otherwise, comment below who you believe is a deserved Superuser and mention how they made a difference in Community during 2018.

We’d like to thank everyone for their contributions to the Community last year – looking forward to interacting with you all again this year!

Regards,

The Community Team

As part of PEXA’s latest platform enhancement (9.0.1) we are excited to bring you a new, simplified home page.

The new landing page is designed to cut down unnecessary 'noise', allowing you to see important information at a glance.

After you log in to PEXA, the first screen displayed will be the new home page. Here, you will see your six most recently-viewed Workspaces. Presented as clickable cards, they will be colour-coded based on their status.

This will allow you to easily prioritise Workspaces and help streamline your platform experience. Further, checking your Workspaces on the go will be simple, as the new layout will be mobile-friendly.

The previous home page layout can be accessed from the left navigation menu which is displayed in the original table format, though it will not act as the default landing page.

We hope you enjoy the new view and as always, we look forward to your feedback.

Hi Community,

From Christmas to New Year’s Day 2019 lodgement will not be available in Queensland.

To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays

Please note that during this period, PEXA’s Support Services will be available from 27-31 December.

On behalf of everyone at PEXA, we’d like to wish you a safe and enjoyable festive season.

Cheers,

Julie

Hi Community,

PEXA is aware of an issue impacting South Australian Workspaces.

As a result, lodgement verification and lodgement of documents will be unavailable for some SA Workspaces. 

PEXA is working with South Australia’s Land Registry to resolve the issue.

If you have any questions, please let us know below.

Kind regards 

Aoife