PEXA Source Fund

[Clara]

If deposit has already  been made to the PEXA account and settlement date changes, what hapoens to the deposit.  Do we leave the deposit until settlement

[DMc]

Sounds like funds would need to be requested to be refunded, within the limits of 'lost/unclaimed moneys'... https://community.pexa.com.au/t5/Ask-the-PEXA-Community/PEXA-Source-Account-Critical-Information/m-p...

[Clara]

Dear DMc

PEXA hotline confirms that once funds are deposited into the PEXA account,  we will just wait until settlement happens (earlier or later) and no need to request for a refund as funds will still be used to complete the transactions. 

I made sure that the amount deposited is slightly more than what is required and a destination line item in favour of the client will be created for the surplus.