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The busy End of Financial Year period is fast approaching and it’s important we all work together to ensure we can navigate the rush together.
One way to assist the network with managing the impending high volume of transactions is to more evenly distribute settlement times throughout the day, when possible.
Our data routinely shows that 12pm and 2pm AEST are the most popular settlement times. Despite this, half an hour either side, 11.30am and 2.30pm, are significantly less so.
You may notice a message pop up within the PEXA Exchange prompting you to consider proposing a different settlement time – we encourage you to do so.
By choosing a settlement time other than 12pm or 2pm you will be helping to spread settlements out across the day and ease the pressure on network parties, particularly the banks.
Industry’s shared goals are to ensure seamless settlements and deliver the best outcomes for buyers and seller and supporting one another is key to achieving these.
To further assist you, we recommend you consult the ‘Bank Transfer Checklists’ linked below. detailing banks’ preferences for settlements, which we think you’ll find useful.
If you have any questions or require any assistance, please reach out to one of the PEXA team or comment below.
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