How to redraw online
with
CUA Online Banking
online redraw guide for
home loan customers
Before you start …things to remember
Online redraw is only available for home loan customers.
Before you redraw, remember to check the due date of your next loan
repayment and make sure there’s enough money in your account to cover
your next repayment or arrange an additional repayment before your next
due date.
We process repayments the evening of the day they are due so funds will
still display in your account the day your home loan repayment is due. If
your repayment is due that day, Online Banking displays your next
repayment date.
There is no minimum redraw amount if you redraw online.
You can only redraw funds into your CUA held deposit accounts and any
payments will be available immediately.
If you have multiple borrowers listed on your home loan account, all
borrowers must have CUA Online Banking access to use the online redraw
feature. All borrowers will be requested to authorise the payments through
Online Banking at cua.com.au.
Step 1: check your redraw amount
On your Account Overview screen, look for your ‘Available’ CR amount
against your listed home loan, or the ‘Available Redraw Amount’ as
highlighted below in your ‘Account Details for Home Loan.’
Step 2: redraw against your home loan
Ensure you have funds available and then select the ‘Online Redraw’ button.
Step 3: create payment
The ‘Pay Anyone’ screen will display with your nominated home loan preselected in the ‘From Account’ drop down menu. Select your ‘Payee’ (you can
only transfer to your own CUA accounts) and click ‘Continue.’
Step 4: confirm payment
You’ll then be asked to confirm your payment to complete your redraw.
Check your payment details and select ‘Confirm.’
Step 5: payment acknowledgement
After receiving your ‘Payment – Acknowledgement’ your requested funds will
be available immediately to your nominated CUA account. But if you have more
than one borrower listed against your home loan please see the next page…
Step 6: home loans with multiple borrowers
If you have another borrower listed against your home loan, you’ll go to a
‘Payment Authorisation’ screen. The other borrower(s) will receive an email
notification of the redraw request and need to log on to
CUA Online Banking and approve the payment.
Step 7: approval by all borrowers
Once logged on, the other borrower(s) needs to select ‘Approvals’ under
‘Authorisation’ in the left-hand menu. Borrowers can either ‘Reject’ or
‘Approve’ the payment from the ‘Actions’ link.
‘
Step 8: approval acknowledgement
Upon payment approval, an ‘Approval Acknowledgement’ screen displays.
Funds are immediately available in the nominated CUA account once all
borrowers have approved (approval requests expire if not actioned in 30 days).