How to reset an SVR's purpose

Resetting a LOC between purposes (in this case, investment -> investment) is easy: simply pay it off and the full balance of remaining credit will be immediately available. No interest will be accrued due to non-incoming-producing purposes.

Here's my method for doing the same with a standard variable rate loan.

1. Feel smug about disposing of an investment for more than you paid for it.
2. Make mental note to not pay off the loan completely, which would trigger an SVR to automatically close, and you want the loan to stay open so that you can redraw for future investments.
   
3. Get interrupted by the significant other about her plans for the new kitchen. Declare that you're concentrating on some big NetBank transfers atm and am not to be disturbed.
4. Triple check the transfer details, including the transfer amount which is the full amount outstanding on the SVR. Click through the confirmation screen quickly because you're so pro at this; click Transfer.
5. ...
6. Break into a cold sweat.
7. ...
8. Utter some carefully chosen expletives, prompting the wife to ask what's wrong. Hear her suggestion of simply calling the bank and reversing the transfer. Prefer to stress and dramatise instead. Glance at the clock: 4:48pm.
9. Desperately dig through NetBank to find a way to transfer money back out of the SVR. No such function is found because funds deposited into an SVR only become available next business day. 4:50pm.
10. Call bank and sit through what seems like hours of "our menus have recently changed" ... 4:53pm. Ponder the possibility of doing another equity release.
    
11. Get through to an operator and grovel apologetically, begging to have the transfer reversed. Operator says he's put a note on the loan to keep it open or reverse the transfer if that can't be done. End the call at 4:58pm, wonder if there was a 5pm deadline for such an enquiry in the first place.
12. Send a message through NetBank so someone else can follow up. Redundant, because the operator in step 11 isn't incompetent.
    
13. Send a message to your broker because she seems to be able to fix everything magically. Also redundant.
14. ... (wait 24 hours)
15. All reversed. Transfer marginally less than the SVR's outstanding balance back into it and simply pause deduction claims on the small amount of interest accrued from then on.

 

hahaha
I've done the same.
Called up the bank, they reversed $100 to reopen the loan.
Problem is that the funds still weren't accessible... freaked out again.
Called them back, turns out they forgot to tick some box... can't remember what that was now. But all is good now, I have $10 "owing on the loan" with $10 in the offset

 

A simple mistake can have far reaching consequences.

 

Isn't that why you have the bank do a reversal?