Browse Forums Building A New House 1 Mar 24, 2009 1:23 pm This probably sounds like a stupid question, but how do you pay the progress payments when you are using some of your own funds first? I could go into the bank to get a bank cheque but that's a hassle with 2 young kids and there's a fee. I am with ANZ and I was told I could go into CBA (builder's bank) and direct deposit to their account. But how do I do this if I don't bank with CBA? I ended up doing internet banking but my daily limit is $10k so I am paying them in 3 payments but they will receive the lot by the due date. Surely there has to be an easier way??? Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: How to pay progress payment invoices? 2Mar 24, 2009 1:30 pm Bank cheque was the easiest way for us. Could you get your internet banking limit increased temporarily? I'm sure I've been able to do that over the phone before. Or something like it, maybe it was my withdrawal at ATM limit. "Your emotions are the slaves to your thoughts, and you are the slave to your emotions." — Elizabeth Gilbert Living in our new house. Currently scaping the land. Re: How to pay progress payment invoices? 3Mar 24, 2009 1:33 pm donuts Bank cheque was the easiest way for us. Could you get your internet banking limit increased temporarily? I'm sure I've been able to do that over the phone before. Or something like it, maybe it was my withdrawal at ATM limit. Yeah I rang the bank about that one but I already have the maximum limit lol. I might do a bank cheque for the next one (frame) but I'll see how much it is otherwise they will get internet banking again. I had no choice this week as my kids have been sick. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: How to pay progress payment invoices? 4Mar 24, 2009 6:07 pm Talk to your bank progress draw hotline.. i believe that they shouold be able to draw down the fund to builder account from any of your saving account.. i did the same, only one phone call and they deposit the money the next day Blog - http://clageonewhouse.blogspot.com/ Building Thread - viewtopic.php?f=31&t=10886&hilit=milan I am in, with my husband and my beautiful bunny Re: How to pay progress payment invoices? 5Mar 24, 2009 6:58 pm claego Talk to your bank progress draw hotline.. i believe that they shouold be able to draw down the fund to builder account from any of your saving account.. i did the same, only one phone call and they deposit the money the next day That's a good idea. I did ring them once already and they said they only do that when we start to draw down the loan. But when I get the next invoice I might ring them again to see if they can do it that way (from our savings acct). They also said they want me to fax them a receipt for each payment I make. I'm guessing the builder will send me a receipt when they have received full payment for each stage? Looks like I will have to ring them aswell to make sure Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: How to pay progress payment invoices? 6Mar 24, 2009 7:22 pm Hels_n_Greg I am with ANZ and I was told I could go into CBA (builder's bank) and direct deposit to their account. But how do I do this if I don't bank with CBA? You do not need to bank with a particular bank to go in and deposit into someone's account. You simply take your funds (whether it be cash, cheque or bank cheque into the CBA, pick up a deposit slip, write your builder's bank account details on the slip, sign it, and take it to the counter. Within 30 seconds the deposit will be made. I would be doing a direct deposit via Internet Banking however. Re: How to pay progress payment invoices? 7Mar 24, 2009 7:35 pm We built with PD and our mortgage was with ANZ. You just fax your draw down authority to the mortgage centre and they will pay directly to ANZ via bank transfer, no cheques, no hassle. It has worked perfectly. Sharon & Paul ********************* Creating Youngs Castle Heywood 29 in Craigieburn http://youngscastle.blogspot.com/ Re: How to pay progress payment invoices? 8Mar 24, 2009 7:50 pm shazburger We built with PD and our mortgage was with ANZ. You just fax your draw down authority to the mortgage centre and they will pay directly to ANZ via bank transfer, no cheques, no hassle. It has worked perfectly. We can do this once we start to draw down our loan, but the problem I am having is paying them from our own funds for the first few stages Deka - If I have to get a bank cheque/cash etc from ANZ and then find a CBA I might just aswell just post the bank chq to PD directly. But I want to try and avoid going into a bank at all. Looks like internet banking is the only option until the loan kicks in, and then it can be paid directly by the mortgage centre. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: How to pay progress payment invoices? 9Mar 24, 2009 8:01 pm Your bank should be able to to a bank transfer to PD's bank. We do this all the time at work. Sharon & Paul ********************* Creating Youngs Castle Heywood 29 in Craigieburn http://youngscastle.blogspot.com/ Re: How to pay progress payment invoices? 10Mar 24, 2009 8:40 pm shazburger Your bank should be able to to a bank transfer to PD's bank. We do this all the time at work. Thanks, I'll ask them again when I get the next invoice but last time they told me no Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: How to pay progress payment invoices? 11Mar 24, 2009 9:25 pm We used our own funds,so paid with a personal cheque...the only payment that we couldn,t do this was the final payment which needed to be a bank cheque....we are with ANZ Cheers Mel Building on 9 acres Re: How to pay progress payment invoices? 12Mar 24, 2009 9:48 pm melanie02 We used our own funds,so paid with a personal cheque...the only payment that we couldn,t do this was the final payment which needed to be a bank cheque....we are with ANZ Cheers Mel That would be a good option too if I had a cheque book Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Hi Mofflepop, I would recommend finding a building designer to prepare plans, they should design to your specified budget. The benefit is you can tender the project out… 9 20417 regardless, your contract stipulates a payments schedule and SOPA doesn't give provision to that scenario. Your contractual terms appear to stand. Hence get a lawyer, it… 4 11869 There is no reason why building contract reconciliation cannot be done prior to handover, if the builder won't do it get someone to do it for you. Why would you pay for… 3 6688 |