Bendigo Bank Limited Transfer Checklist | Help Centre

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Conversations

Please use PEXA conversation tools to contact us if there is an issue with a digital settlement. BBL response time for PEXA conversations is 8 business hours or 4 business hours if settlement is in 2 business days or less. Please do not respond to a conversation requesting completion of a task if the task is completed and visible in the workspace. 

Escalation

If an issue is related to bank requirements for processing in the workspace on day of settlement, or escalation is required for NSW CoRD production, please call our PEXA Team on 07 3810 3601 Monday to Friday, 8:30am to 5pm Qld Time.

Transfer - Sale (Mortgagee on Title)

How to initiate a Sale Request

• Please advise the client to attend their local branch of Bendigo and Adelaide Bank Limited to complete the Discharge Authority. The branch will then process and load to the internal system. 
• It is recommended that the tick box in PEXA is selected to notify when the Discharge Authority was sent to BBL. We will acknowledge receipt of the Discharge Authority via the relevant checkbox 

PEXA Invitation Request

• Please ensure the PEXA invitation is sent as early as possible or at least 15 days prior to settlement 
• Settlement days set shorter than 15 days may impact settlement times 

Preferred Settlement Times (All States)

• 11.00am-3.00pm Qld Time 
• Please note that PEXA displays the settlement time in your local time zone. You may need to convert to AEST when planning settlement times. 

Settlement Date Acceptance

• The requested settlement date will not be accepted until the discharge authority has been received and all pre-settlement conditions have been met. e.g. loan restructures 
• Where documents or pre-settlement conditions have not been received within 5 business days of settlement, BBL may push the settlement date out. 

BBL Payout Process

• Final Payout Figures are confirmed on the morning of settlement by 10am 
• Please do not escalate unless final payouts are not in the PEXA workspace post 10am the day of settlement 

Note:

• BBL currently does not have service level agreements for indicative figures to be provided 2 days before settlement 
• Payout Figures added to a workspace are indicative until the financial settlement schedule has been signed off 

Surplus Funds

• Preference is for the practitioner to manage any surplus funds in PEXA. 
• If the client has provided written confirmation on the Discharge Authority for funds to be deposited to a Bendigo Bank account, we will add a destination line as “vendors funds” with $1.00 balance. Please provide the exact surplus funds amount via conversation as soon as the figure is available.

Transfer - Purchase (Incoming Mortgagee)

How to initiate a Purchase request:

Please accept our workspace invitation as soon as possible. 

To avoid settlement delays please ensure an invitation request has been sent as soon as possible or at least 15 days prior to settlement and all the relevant customer information is provided up front. 

Note: We will accept all invitations by default and will request additional information via a conversation if a customer file cannot be located. 

Preferred Settlement Times (All States)

• 1.00pm – 3.30pm Qld Time 
• Please note that PEXA displays the settlement time in your local time zone. You may need to convert to AEST when planning settlement times. 

Transfer of Land (TOL)

• Please ensure the TOL document is in a "prepared" status as soon as possible, preferably at the time of workspace creation, or at least 5 business days prior to settlement to enable BBL to create and sign off on the Bank’s Mortgage. 

Funds Available for Settlement

• Available Loan Proceeds will be loaded as Source Funds. This amount is the total Loan Amount less our internal fees and charges only. 
• We will not be able to provide the available funds upfront in the following scenarios: 

1. A condition of the customers loan contract requires an internal or external account to be paid with loan funds 
2. The customers loan is progressively drawn and the first draw amount has not yet been advised by the Branch 

Total Funds Required for Settlement & Loan Proceeds

Please provide ‘Total Funds Required for Settlement’ via the FSS as soon as possible or ideally 5 days prior to settlement or at least 2 business days prior to settlement to enable us to confirm and finalise loan proceeds on the day of 

• TFR Required for BBL = Total settlement funds required. If you are contributing funds on behalf of the customer, BBL will subtract that from the total TFR amount 
• Adjustments to the financial schedule on the day of settlement will result in delays due to funds required to be reconfirmed prior to settlement

PEXA Update December 2020: If a workspace is settling using the new Enhanced Settlement Summary (currently being rolled out via a phased deployment) TFRS will not be required. The alternative requirements are to agree funds due for settlement and select ready for shortfall or surplus. More details are available here: community.pexa.com.au/t5/Help-Centre/PEXA-s-Enhanced-Settlement-Summary/ba-p/20957. BBL will be updating this checklist to reflect the new ESS process in early 2021.