Ubank Loan Redraw Facility Question

Ven0m on 23/10/2018 - 16:03

For any UBank Home Loan customers out there I am refinancing to them at the moment but have been taken aback by their apparent 3 day redraw transfer. Can anyone who regularly redraws from their UBank Home Loan confirm how long it takes for the funds to arrive? Most lenders have instant transfers just like it is between your internal bank accounts.

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Comments

  • Cluster on 23/10/2018 - 16:14
    +1

    You specify the date of redraw. Up until about midnight you can specify tomorrow as the redraw date, and the money arrives between 4pm and 8pm into your bank account. I've only redrawn to a CBA account and not another UBank account.

  • cassidy02 on 23/10/2018 - 17:29

    If I redrew from it right now, it would be in my account tonight (to a NAB account). It's pretty quick but they might put that time frame to account for weekends (you can't transfer then) or some banks like Westpac that take a while to receipt funds in your account.

  • Masterpupil on 24/10/2018 - 15:56

    I have only done it once, and I think it took one day from uBank to CBA.

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