Bank final payment delay

Hi all,

Just wondering if it is 'normal' for banks to be slow for the final payment. My bank is telling me I can't expect the bank cheque until next friday even though I send them through my invoices yesterday
Does anyone what what time it usually takes? Or are some banks just slower than others

Thanks

They told us 8-10 days after the final invoice was received, it was ready in less than 3.

I sent the final paperwork through on a Monday night, valuation was ordered on Tuesday morning, valuer made contact with our SS on Tuesday afternoon, walked through Wednesday morning.

We had a text to say the cheque was ready for collection in the early hours of Thursday morning... It came through to both my husband and I at 3am. We picked it up Thursday (once the bank actually opened!)

This was Anz. They just gave a blown out timeframe to allow for hold ups and for people not to rely on a few days, but It can be done.

Was the bank doing their own inspection? Some banks will inspect (aka drive-by) the property to make sure it is actually completed. This can take a few days.

Otherwise they normally pad their expected times, so that if they are slow, it won't break any promised dates to clients.

Bank will generally take up to 10 days if not more for the final payment because they will send a valuer out to do the final valuation and make sure their bum is covered as far as capital.
They don't want you to sign up for a mansion and you only build a shack and pocket the extra cash.

ANZ processed ours in the same timeframe too.

Thanks for your help everyone. Commonwealth ended up getting there act together and got my bank cheque sorted in time