Internet banking
How do I increase my daily limit?
To protect your security when transferring funds and paying bills online, you are required to set a Daily Limit on your account. A Daily Limit applies to transfers via Pay Anyone, BPAY® and Batch Payments, and is the maximum amount you can transfer from your accounts online within a 24 hour period. If you’re a new customer, your Daily Amount is automatically set to $5,000. If you want to change this amount you can do so via Online Banking. To do so, log in, then: Click on ‘My Profile’ SeleFew readersHow do I switch to online statements?
In the event that you would like to switch to online statements, you can follow some simple steps to do it yourself within the online banking system. For Well Balanced and Equity Plus products How to switch to online statements Log on to Online Banking. Go to Accounts Select Statements Select Statement Preferences You can change the statement preference of any account by selecting ‘Actions’ Modify Benefits of online statements Instant access to your statements through OnlFew readersHow do I access my redraw?
How do I redraw my money? The redraw facility available on all of our home loans allows you to access any additional payments you’ve made to your home loan free of charge, 24 hours a day, 7 days a week, using Online Banking. Things to consider What you should know about redraw: You’re able to redraw from your ahead amount on your home loan as many times as you like, with the minimum redraw amount being $1, per transaction. Redrawing on your loan won’t increase your repayments orFew readers
General FAQs
How do I move my loan to a fixed rate?
Well offers great variable and fixed-rate home loan options. If you are currently on a variable rate home loan and are looking to take advantage of fixing your home loan, it’s pretty simple. How to get started First, you’ll need to work out what Fixed Rate you would like. You can view our current fixed rates right here (opens in new tab) Make sure you have your Account details ready (you can find this in your internet bankiPopularHow does my offset account work?
Certain Well Money home loan product can be provided with an offset account. The product that you have will determine how your offset account works. Well Balanced and Equity Plus products For our Well Balanced and Equity Plus products, the offset account is an ADI (Authorised Deposit taking Institution) backed offset account. This is provided through our wholesale funder, Bendigo and Adelaide Bank Ltd. To understand how this offset account works, here's an explainer video for you: yoPopularCan I repay my loan early?
A lot of lenders (well, all reputable ones at least) will give you the option of repaying your loan early, though there are a few things that you will need to be mindful of if this is what you’re looking to do. Each loan usually has a fee when the loan is finished. This means that if it’s fully repaid and discharged, you might have to pay a fee. This fee is always disclosed in your loan contract and tends to represent the costs involved in wrapping up your loan. For a home loan, this isn’t a lSome readersWho do I speak to after my loan has settled?
At the time your loan settles, you should get some information about how to manage your loan. This can often be login details for your online account or a pamphlet explaining who to contact when you need a bit of help. Most lenders have a dedicated department that handles all customer inquiries after the loan settles. For our customers, our WellCare team handles everything that is needed to look after you for many years. For a Well Money home loan, you can find out more from our contact usFew readersHow often will I receive information about my loan?
Information about your home loan will be sent out to all borrowers and guarantors that are associated to a home loan. Depending on which home loan you have with us, will depend on how often you get them. Statements will be sent either electronically via your nominated email address that we have on file or through the mail. Well Balanced and Equity Plus home loans Our Well Balanced and Equity Plus home loans are available with 100% offset accounts. If you have an offset account then you wiFew readersCan I pay more than the minimum repayment on my home loan?
You can always pay more than your minimum repayments and in most cases, it’s a good idea to do so if you’re able to. With most home loans, you are normally paying off both the principal and the interest. Taking into account a typical home loan, the early years see most of your payments go towards paying off the interest more than the principal. If you can pay off more than your minimum repayments, this will cut your interest bill and make the home loan shorter overall (due to paying it offFew readers