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since ‎19-03-2018
14 hours ago
BytheBay
BytheBay
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About BytheBay

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Latest Contributions by BytheBay
  • Topics BytheBay has Participated In
  • Latest Contributions by BytheBay

Re: Kudos to Westpac

by BytheBay in Share your Experiences
3 weeks ago
6 Likes
3 weeks ago
6 Likes
Hi Sonia .. keep up the good work then .... it would be great if all the other banks would put similar effort into making improvements of their own! ... View more

Kudos to Westpac

by BytheBay in Share your Experiences
3 weeks ago
13 Likes
3 weeks ago
13 Likes
Thank you Westpac .. very responsive to conversations - loaded loan payout well in time for settlement and signed off when requested (2 days out from settlement) so the workspace would be make ready/ready .. all parties can now relax knowing this one's sorted.  Fantastic management of the workspace and a great example of what 'best practice' looks like.  A very happy practitioner for once! ... View more

Re: BANKS ARE NOT TAKING THIS SERIOUSLY

by BytheBay in Share your Experiences
‎19-12-2018 08:12 AM
2 Likes
‎19-12-2018 08:12 AM
2 Likes
This thread has a few comments regarding ANZ poor performance but they are not the only one .. my recent experience with HSBC is horrendous .. a complete lack of understanding that they simply cannot do things on the morning of settlement ---  such as loading funds or showing the purchaser equity contribution .. by all means wait until the morning of settlement for funds to be made 'ready' but banks need to show the financials so it can be seen by all that the FSS will balance off when funds are made 'ready'.  And the number of times bank processes are still asking for paper documents .. Victoria has been mandated since October .. 2 months down the track this should not be happening at all!!  Above all - answer conversations - the conversations are usually directly related to the reasons for the complaints around issues of bank's poor practice and performance.   A reduced 30 minute roll-over time is 'better' but in my experience banks are using this to their advantage as the impact to the other parties is no longer 90 minutes and a 30 minute delay is somehow ok as its impact is lessened.  A settlement time is a settlement time .. work practices require better workspace management by all parties to ensure workspace readiness by the required time.  Again - use the conversation ... banks have a responsibility to notify a known delay just like all other parties to the transaction. ... View more

HSBC Bank

by BytheBay in Ask the PEXA Community
‎17-12-2018 05:09 PM
‎17-12-2018 05:09 PM
HSBC - your workspace management is woeful .. you must improve your practices and processes .. refusing to do tasks until the morning of settlement is not good practice and falls below what is needed and expected as good practice.  Answering conversations (rather than simply ignoring them because you think you can ignore matters) is simply not acceptable. ... View more

Re: Unread Conversation Count

by BytheBay in Ideas and Suggestions
‎17-12-2018 02:42 PM
‎17-12-2018 02:42 PM
when is the unread conversation counter going to be re-activated? ... View more

Re: Changes to the Notice of Acquisition (VIC)

by BytheBay in Ask the PEXA Community
‎04-12-2018 05:47 PM
1 like
‎04-12-2018 05:47 PM
1 like
Please also put the purchasers date of birth on it do it complies with legislative requirements for it to acceptable by councils - then allow it to be emailed directly from docs to councils.  ... View more
  • Tags:
  • only email if encrypted

Re: HSBC Bank

by BytheBay in Ask the PEXA Community
‎03-10-2018 12:43 PM
‎03-10-2018 12:43 PM
HSBC -- your PEXA processes and matter management are woeful - not a happy practitioner (acting for Vendor) ... View more

Re: Banks are not taking this seriously!

by BytheBay in Share your Experiences
‎02-10-2018 01:52 PM
1 like
‎02-10-2018 01:52 PM
1 like
The Vic mandate is with us .. so banks get your processes right!  Westpac signing off at 1.10 for settlement booked for 11.00 is totally deplorable -- as you were the linked transaction bank you caused two other settlements to fail --- not once today but twice!!     Why is it that banks now appear incapable of providing settlement figures BEFORE settlement (you could in the paper world) - processes that dictate this is only provided on the morning of settlement is not acceptable.  Processes that dictate that you will not sign documents until the morning of settlement is also not acceptable ... any signing/completion needs to be done well ahead of settlement.   Banks also need to get pro-active with advising the representative on their side of any issues .. its called a "conversation" tool for a reason!   I have had a good experiences with Liberty Financial .. they make sure their work tasks were completed well ahead of settlement. ... View more
  • Tags:
  • Banks need to improve workspace management tasks

Kudos to Liberty Financial

by BytheBay in Share your Experiences
‎21-09-2018 09:44 AM
7 Likes
‎21-09-2018 09:44 AM
7 Likes
Just want to give kudos to Liberty Financial .. my 12noon settlement today was made ready by Liberty by 9.30am .. well done.   If banks (all banks in general) still believe that its "ok" to complete their workspaces "on the morning of settlement" then, like Liberty today, it must be done well before the agreed settlement time.    Many other banks are not getting the file management tasks completed until far too late which causes issues for all other parties in the workspace and is not a good 'collaborative' approach mind-set. ... View more
  • Tags:
  • Banks need to improve workspace management tasks
Category:
  • banks

banks still need to change

by BytheBay in Share your Experiences
‎07-09-2018 07:53 AM
‎07-09-2018 07:53 AM
The Victoria mandate is now weeks away and the banks are still lagging with workspace inefficiencies and maintaining a "paper" mindset .. worse still is the attitude that doing everything "the morning of" settlement is OK - its not!  Workspaces can and should be ready well ahead of the settlement time .. waiting on processes being dealt with in the 5 -10 minutes before settlement is just poor matter management.   There is no reason why a party cannot sign off as early as possible once their tasks are ready and complete.  There is a responsibility to all the parties in the workspace and for all parties in that workspace to complete their own tasks irrespective of what another party may be doing.    ... View more
Category:
  • Banks and Financial Institutions

title activity check exception

by BytheBay in Ask the PEXA Community
‎22-08-2018 10:47 AM
2 Likes
‎22-08-2018 10:47 AM
2 Likes
there is an urgent need for an email to be sent marked "URGENT" .. when a workspace needs attention because of a TAC on the day of settlement .. especially when the workspace has been put in READY/READY status and a TAC after this time makes it unready .. there is no notice that this has happened and the parties expect that the workspace will stay ready/ready ..  ... View more

unread conversations no longer being listed on das...

by BytheBay in Ask the PEXA Community
‎22-08-2018 10:45 AM
2 Likes
‎22-08-2018 10:45 AM
2 Likes
why are unread conversations no longer being listed on the dashboard link?  they show up in each matter but not on the dashboard. ... View more

late Signing documents

by BytheBay in Ask the PEXA Community
‎02-08-2018 03:22 PM
1 like
‎02-08-2018 03:22 PM
1 like
  NAB .. signing off at 2.33 for a 2.30 settlement is simply NOT ACCEPTABLE .. surely you had plenty of time to get your workspace tasks done in time.  Tardiness causes a roll-over and a failed settlement.  Now the purchaser must wait 90 minutes before the can settle and this costs them money .. their removalist is now charging wait costs .. who pays for that .. and the extra time needed to now monitor the workspace again. ... View more

Facebook

by BytheBay in Ideas and Suggestions
‎07-07-2018 07:30 PM
‎07-07-2018 07:30 PM
can you set up a state specific Facebook page - if would be useful to get posts about specific state based issues from time to time - whilst still receiving “pexa wide” information and updated.  ... View more
Category:
  • VIC

Re: Banks are not taking this seriously!

by BytheBay in Share your Experiences
‎23-06-2018 05:27 PM
4 Likes
‎23-06-2018 05:27 PM
4 Likes
We should be at the point of “ending paper” not “starting pexa” by now!    We should not be seeing “your settlement is in one hour - workspace is not ready “ ready by now!   all participants - banks particularly - need to ensure they complete workspace tasks at least  BEFORE one hour from settlement - banks could do this in the paper world - giving payout figures and confirming loan proceeds at least 2 days before settlement (when we had to rely on cheques - but it shouldn’t be any different in the electronic space. Parties simply cannot prepare and finalise matters while the banks think it’s ok to do thing “the morning of”. - this may suit bank to bank refi’s But it cannot be best practice in a vendor/purchaser settlement. Banks must accept they have responsibilities to their borrowers / but also to the other participants in that workspace  - there must be more communication by banks and s commitment to the settlement time/date which is to be considered “Agreed” when accepting a workspace invitation initiated by the vendor/purchaser. / if this no longer is achievable  a party (bank or practitioner) should propose a new time.  Roll-overs from inaction or poor matter management cannot be acceptable.  An attitude by banks that settlement can be “anytime because the platform will re-schedule itself” is not best practise or in line with the vrndor/purchaser expectations or indeed contractual obligations  ... View more

Uploading funding details to workspace

by BytheBay in Share your Experiences
‎14-06-2018 04:23 PM
1 like
‎14-06-2018 04:23 PM
1 like
Heritage Bank .. the practice of not uploading loan proceeds to source funds until the day of settlement is NOT best practice .. how can the purchaser parties make necessary arrangements in that untimely environment ... this is not in accordance with transfer "guidelines" in any event.   Banks need to be more transparent with their client (the purchaser) and advise this information in a timely manner .. and especially so when conversations are sent requesting the information .. but not answered!   We should not still be falling back on "paper" processes in having to call up and chase this very basic of information which is designed to be uploaded and input to the workspace for all to see ..    But it has to be done in a timely manner .. not the morning of settlement! ... View more

Re: Settlement payment of Land Tax in Victoria

by BytheBay in Share your Experiences
‎13-06-2018 10:03 AM
‎13-06-2018 10:03 AM
Will the issue of notifying payment details on a land tax clearance certificate be taken up with the SRO or addressed by them??     Vendor representatives should be obtaining their clients assessment notice for entering any payment details as a VENDOR DESTINATION .. not forcing payment onto the Purchaser representative to take funds and attend to payment.   It should not be difficult for vendor reps to request this information from their clients. ... View more

Re: Notice of Acquisition - VIC

by BytheBay in Help Centre
‎06-06-2018 07:53 AM
1 like
‎06-06-2018 07:53 AM
1 like
I have submitted this before as a "raise an idea" --- that if attachment could be made to the "settle" notification email that is available via "property information" then the could be sent directly from the workspace .. via input of the council water email address ....   as a secondary issues (also raised) .. the "property information" screen needs to be able to remember email addresses for quicker re-keying of addresses used more than once - such as council / water / agent - even clients as they may appear across multiple workspaces. ... View more

Re: Settlement Notification

by BytheBay in Help Centre
‎05-06-2018 02:32 PM
1 like
‎05-06-2018 02:32 PM
1 like
Whilst this function is great .. can you please revert back to using the PEXA header in the emails?   and secondly .. can you make the system remember email addresses previously used so that these do not need to be typed fresh each time .. as the same client email may be used across multiple workspaces and the agent, especially, may be a used repeatedly across workspaces .. this would save a lot of time and re-entering data. ... View more

Re: Settle Me

by BytheBay in Ideas and Suggestions
‎05-06-2018 02:07 PM
‎05-06-2018 02:07 PM
Question .. does the new 'in workspace' settle me sign up process apply also to corporate parties (previously unable to be sent for a company).  And will there be any sign up issues for the party if they had a SettleMe under the old system? ... View more

Re: BANKS and PEXA

by BytheBay in Ask the PEXA Community
‎04-06-2018 03:05 PM
1 like
‎04-06-2018 03:05 PM
1 like
Banks NOT being ready... loading funds and making ready at 2.45 for a settlement marked for 2.30pm is not good enough .. having to spend time on the phone chasing both the electronic team and the banker to get the workspace ready in time is not good enough -- especially when it takes 20mins each phone call to get through to someone to deal with issues the bank should be on top off .. the settlement time/day is known to the bank .. and more needs to be done to ensure that fulfillment is done BEFORE the settlement "deadline" .. not after it .. settlement is not "anytime" it is the time set and agreed by the parties .. usually at the time the workspace is opened ..  ... View more

Re: St george Bank

by BytheBay in Ask the PEXA Community
‎24-05-2018 03:15 PM
3 Likes
‎24-05-2018 03:15 PM
3 Likes
Thanks Sonia for your reply.   It was most refreshing to see a “result” in the workspace .. and completed so promptly ..     Most of the time our (conveyancing practitioner) experience with banks is 'generally' quite negative .. I would say keep up the good work and hopefully the other banks will follow your lead and their and improve their response times and work towards more timely fulfilment -- most banks' fulfilment has much room for improvement!   Thank you. ... View more

St george Bank

by BytheBay in Ask the PEXA Community
‎24-05-2018 09:16 AM
9 Likes
‎24-05-2018 09:16 AM
9 Likes
I am leaving positive feedback for St George .. my settlement is 7 days away .. i sent a conversation asking them confirm if they hold a client authority for shortfall and to advise funds available .. i got a reply back next day - AND they also confirmed the funds authority tab and uploaded funding amount to the source funds (awaiting readiness) .. This is the kind of promptness and fulfillment that is needed from all banks .. well done St George! ... View more

BANKS - When will they stop presuming paper and st...

by BytheBay in Share your Experiences
‎22-05-2018 05:34 PM
1 like
‎22-05-2018 05:34 PM
1 like
For example I would like CBA to stop sending out Settlement Room invitations too quickly .. when will they (and all banks generally) stop presuming paper and start presuming PEXA??  CBA seems to do a paper nomination at the same time they send a settlement room invitation .. even if a PEXA invitation is 'pending' acceptance.  Then once the matter gets into PEXA by all parties their paper nomination causes issues and sits there causing frustrations in having to have it withdrawn (which on occasions takes several calls to loan support to get actioned).  ... View more
  • Tags:
  • bank processes
Category:
  • bank processes

Settlement Notification

by BytheBay in Ideas and Suggestions
‎21-05-2018 05:31 PM
1 like
‎21-05-2018 05:31 PM
1 like
it would be useful to be able to attach a document to the settlement notification. - such as the notice of acquisition so that the council/water authorities can be immediately also notified of completion. ... View more
Category:
  • Financial Settlement

Access to conversations from dasboard

by BytheBay in Ideas and Suggestions
‎19-03-2018 07:54 PM
‎19-03-2018 07:54 PM
From my experience with using PEXA now for some time .. it would be useful to be able to be notified and access conversations directly from the dashboard .. then with the ability to get a direct link to take you to the relevant workspace.  It is both cumbersome and time consuming receiving conversation notifications via email and then having to go to the appropriate workspace to be able to read them and reply.   On occasion when it is necessary to have multiple conversations (usually with a bank on the day of settlement) there needs to be a way to speed up the communication processes. ... View more
  • Tags:
  • conversation tool
Category:
  • All State
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  • bank processes
  • conversation tool
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