Changes to how loan balances appear on mobile and internet banking

As part of our preparations to introduce an online redraw facility, we’ve made changes to the way loan balance figures appear in Heritage internet banking and mobile banking.

29 June 2018

We’re getting ready to introduce an online redraw facility for Heritage customers in the coming months. 

Having an online redraw facility means you will be able to access payments-in-advance you’ve made on your eligible home or personal loan, from the convenience of your computer or mobile phone, rather than having to visit a branch or call our Contact Centre.

As part of our preparations to introduce this exciting new feature, we’ve made changes to the way loan balance figures appear in Heritage internet banking and mobile banking. 

What’s new? 

  •  You’ll now see a ‘real time’ Loan Available Balance figure in internet and mobile banking that includes any payments in advance you’ve made. Previously, the balance shown was as at the last repayment date.
  • It’s important to be aware that because it's a ‘real time’ balance, it does not take into account any payments that are due in the future.

Important things to note:

  • Although the available loan balance figure will now include any payments in advance, you will not be able to transfer funds via the mobile app or internet banking until Heritage launches the online redraw facility. 
  • In mobile banking, you can select the Transfer option for eligible loans, however you will not be able to complete a transfer from your loan online until we launch the online redraw functionality at Heritage. If you attempt to make an online transfer from your loan in the meantime, an error message saying 'Invalid Account Number' will appear.
  • Until online redraw has launched, customers can continue to request a manual redraw of funds through branches or the Contact Centre by completing an “Application to Reborrow Payments in Advance” form.

For more information please call our contact centre on 13 14 22.