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Please see the following banks and panel law firm checklists for completing transfers.
This is really helpful
Fantastic post! Definitely helps in understanding when to expect things in the Workspace. Can we get more FIs to contribute?
Thanks. Can we have a post on tips to the banks from Conveyancers?
@EmilyBilling wrote:Please see the following tips from banks on completing transfers:NABWestpacSt GeorgeANZSuncorp / FMSCBA
Please see the following tips from banks on completing transfers:
This sort of information is invaluable. Specific practical requirements from Lenders, that relate to the actual process.
Should be more of it !
@MorganConveyancing hehe i agree. Would like to see a post from us, telling the banks the tips we would like them to follow.
The problem is that the Banks do not seem to be consistent.
Thanks @EmilyBilling It is still a bit disjointed but better.
This is super helpful, thank you so much.
Just updated CBA's checklist - great to see @regmic and the team continue to make changes to the checklist as CBA progresses in their digital transformation.
A great resource
Any chance you could add other Financial Institutions eg Bankwest?
A helpful tool
Banks used to have to provide payout figures at least 48 hours prior to settlement not by 10am on the day of settlement. This is incredibly frustrating as the principals / partners who are required to sign off on matters are not always available during the time when the banks finally load payout figures and settlement times.
All financial institutions should be able to load information at least 12 - 24 hours prior to settlement to allow timely sign offs of matters
Thanks for your post. As per the Transfer Guidelines, Banks are required to provide an indicative payout figure 16 business hours before settlement and a final payout figure by 10am on day of settlement. They receive weekly reporting on how wel they have aligned to this requirement. See here an earlier post by Westpac/St George on why payout figures are updated/finalised on the day of settlement.
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