Trying to pay funds back into loan account but it keeps getting reversed!

Yep. Happened to me with STG.

Applied for a new loan to extract some equity. As usual, on settlement, proceeds were paid in a bank account.

Tried to pay the funds back into the loan account, it accepted. Few days later, funds were back in my offset. Its as if someone looked through and thought - "hey the loan has settled and the money hasn't been paid, better go pay it again".

Because i wasn't using the funds immediately, i let the money sit in the offset for 2-3 weeks then transferred it into the loan.

 

I pay down to $100.
Then if it doesn't close, $50, then $10.

For example, if the loan amount is $200,000
On the day i need to access the fund, it is owing $10, so I will transfer $100,000 out, then $10 in, then the following day the remaining $100,000 out

($100,000 used as that is the daily limit for most banks if you increase to the upper limit).

Because the transactions that occur on the same day, the bank will usually process the credit first, followed by the debit.

So on my transaction history, it shows the $10 being repaid, so my account is completely clean, then the withdrawal comes out. This way my account never closes.

Did this successfully with CBA 2 months ago

 

A bit risky doing both debit credit on same day isn't it, i mean heightened chance of something going wrong?

 

wow.....

Anyway, next time your under pressure just PM me and will sort the correct deposit details for you, that way you can just relax and enjoy your holiday.