Bank transfer

Discussion in 'Money Management & Banking' started by Hulk, 2nd Feb, 2020.

Join Australia's most dynamic and respected property investment community
  1. Hulk

    Hulk Active Member

    Joined:
    6th Aug, 2019
    Posts:
    25
    Location:
    Sydney
    Hi

    I see most bank have daily limits on how much money can be moved in a day between accounts. How does it work for big transactions like settlement after selling a home?

    I understand money comes to the trust account but I am asking how do we manage it after it reaches the personal account of seller ?

    Regards
     
  2. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
    Posts:
    6,014
    Location:
    Australia
    Go to a branch and bring 100 points of ID.
     
    Hulk likes this.
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

    Joined:
    9th Jun, 2006
    Posts:
    30,842
    Location:
    Australia wide
    request a one off increase for a large transfer
     
    Hulk likes this.
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    15th Aug, 2005
    Posts:
    7,534
    Location:
    Gold Coast
    Telegraphic Transfer aka TT

    old skool, but works

    ta

    rolf
     
    Hulk likes this.
  5. Hulk

    Hulk Active Member

    Joined:
    6th Aug, 2019
    Posts:
    25
    Location:
    Sydney
    thanks guys !