PEXA QUARTERLY UPDATE Q1 FY23
Transfer Guidelines adherence: a state-by-state breakdown The Transfer Guidelines support PEXA members to complete smooth and timely transactions. A standard transfer requires the swift completion of time-critical, inter-dependent tasks by all parties. For practitioners, a focus on lifting adherence at specific points of the transaction would innately allow for improvements by banks in timeliness of task completion – specifically Document Creation (G5) and Payment Directions (G17). As part of an active focus on reducing stress on settlement day and increasing the number of on-time settlements, we are working closely with members, both practitioners and banks, to support them with their guideline adherence. See below for a state-by-state breakdown of G5 and G17 guideline adherence in Q1 FY23.
VIC
NSW
QLD
SA
WA
ACT
CHART TITLE NSW
QLD
SA
WA
ACT
25%
33%
34%
49%
48%
52%
57%
67%
65%
59%
61%
60% 37%
48%
55%
56%
56%
79%
VIC
G5 DOCUMENT CREATION (IP)
G5 Document Creation (IP)
G17 PAYMENT DIRECTION (IP)
G17 Payment Direction (IP)
G17 PAYMENT DIRECTION (POT)
G17 Payment Direction (POT)