BANKS ARE NOT TAKING THIS SERIOUSLY

[SCTHornsby]

We are currently experiencing trouble with CBA in relation to a Discharge of Mortgage, for a client's sale.  The mortgage is paid in full and the client had the Discharge of Mortgage but was not aware he had to lodge.  We are now involved in a linked settlement and the sale matter could be all ready to go...but of course we are waiting for CBA...for what, we are not sure...there is no pay-out figure to be calculated!  So, why are CBA unable to complete their tasks??? 

We also, have had trouble with "Dentons", they are entering financial information including additional funds, around 20 minutes before settlement, if you are lucky!  They will not reply to conversations in PEXA,  emails or telephone calls.  

We remember being assured by PEXA at their information seminars and Roadshows, which included bank representatives, that the banks were on board with e-conveyancing, matters would be streamlined and we would all be saving time.  Who is saving time and our frustrations and stress levels are going thru the roof!

So how can PEXA claim "80% plus" "final pay-out figure entered before 10am on day of settlement" and "...there has been steady progress over the last three months"

We remember when pay-out figures were provided a couple of days prior to settlement, by fax, and prior to PEXA, we would have our settlement instructions in our city agent's collection bag, at the latest, the evening prior to settlement.  Pay-out figures and funds available are now taking longer to receive.  WHY?

We will admit when PEXA works it is "very very good" but when it does not work it is dreadful, and there is little support...we are now being told by PEXA support they no longer have a telephone number for ANZ only an email address...are they serious?  How can they allow banks to dictate to us and them like this?  

[danielR]

Spot on Jane. I'm having the exact same issues with ANZ Bank. It's unbelieveable how consistently poor they are.. I'm almost at the point of not acting for clients using the ANZ Bank, as every matter with them is costing me more time than it's worth.

[danielR]

Yes, i'm also constantly being asked by bankers for copy of the Transfer of Land, they're even threatening to delay settlement if i don't produce same lol. They haven't changed their precedent letter they fax constantly since Pexa came in. I'm amazed at how unorganised they are.

[danielR]

That's not a "horrendous experience" when it comes to the ANZ Bank, that is a "regulation experience".

[AJJones]

ANZ are the worst to deal with in my experience.  Always have to be chased, and I dread having to ring them as always on hold for 1/2 hour or more.  They just say that they are really busy at the moment.  Obviously understaffed.  

[Claudia11]

Totally agree with everyone, the offshore employees have no idea what they are doing!  So love when they request a copy of the Transfer and we are like the matter is in Pexa, look at the prepared document.   Their response is always the same, sorry but we need to see the transfer first before we can move forward.  Guess we have all the time in the world!  Who is going to pay us for waiting for an hour on the phone and then having to speak to someone who has no idea!!  

We could go on forever complaining about the banks........