ANZ - get it right?

Anyone who takes a housing or commercial loan with the ANZ currently have the ability to give the bank authorisation to debt a savings account on the morning of settlement for their contribution.

The ANZ in it's wisdom have decided from 31 August 2009 they will no longer provide this service.

What does it mean?
Now ANZ clients will have to queue at a branch to purchase a bank cheque for $10. Post a cheque to their settlement agent 4 days prior to settlement to allow for re banking and clearance through the banking system.

A bank will not let you purchase a bank cheque unless you have cleared funds available in an account. Yet all bank still take 3 working days to clear a bank cheque!

A settlement agent does not only queue to bank the cheque but go back 3 days later, queue to purchase a bank cheque from the Settlement Agent's Trust Account.

A bank cheque is then taken to settlement at the ANZ representatives office currently Esperon.

What do ANZ's client loose?

• a great service
• interest on savings
• time off work 'ask the boss for extra half hour for lunch to cover queueing'
• inconvenience 'how far away is the bank from work it's not open Saturday'
• stress will it get there on time 'will I need to pay an extra $16 to clear the cheque'
  

What else is coming, whispers are the ANZ are looking to close down their WA office and outsource to Perpetual Ltd in Melbourne?

Great further delays with settlements! Will settlement need to be booked 3 days in advance similar to Westpac who are currently based in Melbourne.

The ANZ made a profit of $3,319m to 30 September 2008 last year. Their current advertising on their website states 'get it right' and 'we got time to listen' how much more do they want!

Western Australia clients have contributed to the ANZ coffers, lets see the ANZ show loyalty and keep WA people employed, at the same time offer a great service not half hearted approach to service.

"I encourage all WA settlement agents & Finance Brokers to lodge a complaint with the ANZ"

and give their clients the contact details to email and phone number to lodge a complaint with the ANZ to highlight the inconvenience and loss of service.

Lodge a complaint 1800 805 154 or yourfeedback@anz.com fax 03 9683 9267

WA safety switches 'RCD's Residual Current Devices

As at 9 August 2009 any property built before 2000, sold or rented out must have installed 2 safety switches before settlement takes place or tenants move in.

This new regulation has been bought in by the Western Australian government to prevent inhabitants being electrocuted.

Costs around $500 to install 2 switches. Small switchboards may need upgrading to support 2 switches, the electrician may find other issues needing attention.

A licensed electrician should provide a Certificate stating the property has 2 safety switches installed. The Certificate to be given to the new owner or shown to any future tenant.

Failure to comply with the new regulation leaves sellers open to penalties of up to $15000.

I am encouraging real estate agents to make it a condition of a contract of sale, 'seller to install 2 Residual Current Devices before settlement'.

Why leave your client open to being reported by a buyer or tenant, to incurr fines more then the cost of complying with the new regulation? Add it to the contract and everyone knows where they stand.

www.engergysafety.wa.gov.au/RCD 9422 5200