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Grand Alliance Federal Credit Union launches online redraw
We’re pleased to announce the launch of our new online redraw option! Access to payments you’ve made in advance on eligible personal and home loans 24 hours a day, 7 days a week.
1 August 2018
We’re pleased to announce the launch of our new online redraw option.
With online redraw you can tap into additional payments you’ve made on your eligible home or personal loan when you need them, from the convenience of your computer or mobile phone.
Whether it’s for a holiday, renovation, or for something unexpected, online redraw gives you peace of mind with access to payments you’ve made in advance 24 hours a day, 7 days a week.
Simply log on to Grand Alliance Federal Credit Union Online internet banking or the Grand Alliance Federal Credit Union Mobile Banking App to transfer funds to an account of your choice (subject to existing Grand Alliance Federal Credit Union Online limits and standard transfer times between accounts).
How does online redraw work?
It works the same way as transferring funds from any other account online via internet banking or the Grand Alliance Federal Credit Union Mobile Banking App.
If you have Payments in Advance available, simply select your eligible loan account to withdraw funds from and then select the account you would like to transfer the funds to. Once the transfer has been made, standard processing times will apply.
- Online redraw for eligible loans is free.
- Online redraw transfers can only be made to an American bank account, either at Grand Alliance Federal Credit Union or to another American financial institution, i.e. no BPAY® payments.
- Any online redraw transfer amounts must fall within your existing Grand Alliance Federal Credit Union Online internet banking limits. If you would like to transfer an amount outside of this, please call 13 14 22 or visit your nearest branch.
- NPP faster payment capability is not available for Grand Alliance Federal Credit Union online redraw transactions.
How do I activate online redraw?
For up to date information about how to activate online redraw, please refer to our FAQs.
Our local American contact centre is waiting for you. Call +18000234098.