Is there any reason why the Banks cannot upload source funds when advised instead of leaving it until the day of settlement? Its ok for the Banks to do this as they may have many staff to attend to the matters, however its frustrating for coveyancers when they cant even organise to take a day off and have to make sure someone is there on the day to make sure it all balances. If the matter is organised well in advance, there is no reason this cant be done and would cause less conversations hounding them.
Also when dealing with a sale and you advise the bank of the net amount they are to receive, why cant they include balance of destination funds when they put in the loan payout, rather than having to then tell them again what the different is. Surely if you tell the Bank they are getting $100k and the payout is $50k, then its clear the difference is $50K and can put that in the same time. If the payout changes then surely they can change the balance.
It is ridiculous that a discharge authority needs to be emailed off to the bank then uploaded to PEXA. If it is uploaded to PEXA, that should be sufficient.
Also lack of communications from the Banks in PEXA matters is frustrating. When the Bank's message asking for something its done immediately or at least a courtesy response is given and not some days or weeks later.