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Netbank Mortgage Errors - Netbank Date Problems Give Home Loan Clients Headaches

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Netbank Mortgage Errors

If you have a mortgage or home loan with the Commonwealth Bank, you may want to double-check the transaction dates reported by Netbank, before you rely on any of the figures. Clients using the mortgage checker software Home Loan Interest Manager Pro have reported that the information displayed on Netbank (for their mortgages and home loans) often does not match the information on the printed home loan statements sent out by the Commonwealth Bank.

"On a sample of Commonwealth Bank mortgages statements we have reviewed, 58% of the interest transactions checked in a financial year had a different date displayed on Netbank, than was reported on the printed home loan statements." said a spokesperson for Home Money Manager, author of the mortgage software Home Loan Interest Manager Pro.

Netbank Mortgage Errors - For software details and to download now click here.

www.HomeMoneyManager.com - 14th December - A spokesperson from Home Money Manager explained "It is fairly easy to pick up Netbank date errors on the transactions for the monthly interest charge. The Commonwealth Bank normally charges their home loan clients interest on the first of the month (and looking at your printed statements you can easily confirm this), however if you check your mortgage transactions on Netbank you will find that some of the interest transaction are dated on the second or the third of the month."

"The problem also extends to deposits and withdrawals on home loan and mortgages, however these can be a little harder to find without some help. If you are using the mortgage audit software Home Loan Interest Manager Pro then simply import your Netbank transactions into the software, run the Interest Checker report, and the errors will instantly be reported as discrepancies."

"If you are a Commonwealth Bank Netbank client and you are trying to check the accuracy of your interest charges, first you will need to fix up the date problems caused by Netbank."

"The easiest way to do this is to run the Balance Checker report within the mortgage checker software and look for any transaction dates that are different to the dates on your printed statements. From within the report double click on any transaction with a date error to edit it, change the date, and the mortgage checker software will automatically recalculate everything as you fix up the dates".

"So far these Netbank errors do not appear to impact the interest calculations, or the amount the Commonwealth Bank is charging it's home loan clients, it is just a reporting problem within Netbank. The errors relate to mortgage and home loan transactions, where Netbank is incorrectly displaying the processing date of the transaction, and not the date the transaction impacted the balance."

Commonwealth Bank home loan clients relying on their Netbank transactions to do their home budget or tax return, could be including figures in the wrong month, or the wrong financial year. Home Money Manager and serveral of their clients have raised this issue with the Commonwelath bank, and the bank is aware of the problem.

About Home Loan Interest Manager Pro

Home Loan Interest Manager is compatible with Windows Vista, XP, 2000, Mac OS X, Linux, and any operating systems running Java 1.4 or greater.

To download and try the software for free, or to find out more about the product, visit https://www.homemoneymanager.com/home-loan-interest-manager.html

About Home Money Manager:

Home Money Manager specializes in the production of mortgage audit and home loan manager software. Download mortgage checker software and find out if your mortgage is one of the thousands being overcharged interest EVERY DAY.


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