Lanky Lad Posted November 12, 2018 Share Posted November 12, 2018 Its over 10 years now since we landed - our "kids" had to pay a $10,000 bond - repayable after 10 years. Their application for it to be repaid - received no reply - over two months on and after lodging a complaint - today received a telephone call. The gist of it seems to be. ".. wind yer neck in and wait.... it could take months before the bond is repaid" So I am looking here for anybody entering on the Contributory Parent Visa (813??) and after paying teh visa costs and the added bond cost. My wive's bond as main applicant was $10,000. Looking for more practical results and facts that what today's caller gave out. Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted November 12, 2018 Share Posted November 12, 2018 Sorry I'm not really sure what you're asking/saying Quote Link to comment Share on other sites More sharing options...
Mike@Bonbeach Posted November 13, 2018 Share Posted November 13, 2018 My son got the letter from Centrelink saying that the bond was going to be repaid, he contacted the CBA who held the bond and it was repaid pretty quickly once we'd been here the 10 years. 1 Quote Link to comment Share on other sites More sharing options...
Amber Snowball Posted November 13, 2018 Share Posted November 13, 2018 4 hours ago, Mike@Bonbeach said: My son got the letter from Centrelink saying that the bond was going to be repaid, he contacted the CBA who held the bond and it was repaid pretty quickly once we'd been here the 10 years. That’s good. How long roughly, was it from your 10 year anniversary date and getting the money would you say? Ours will be due May next year. Quote Link to comment Share on other sites More sharing options...
Mike@Bonbeach Posted November 13, 2018 Share Posted November 13, 2018 Can't remember exactly, but it wasn't too long. Maybe a couple of months. But I do believe your sponsor has to request it from CBA otherwise they would just roll it over into another Term Deposit. (so we were lead to believe). Mike 1 Quote Link to comment Share on other sites More sharing options...
Lanky Lad Posted November 13, 2018 Author Share Posted November 13, 2018 For the replies above....sorry for delay in reply... was in Sydney doing our weekly "Day Care" for our grandson! On Monday we had an update. Our daughter had notified intent to re-claim the bond and NOT to extend it further. The money is in the bank - but the bank cannot do anything until they get a release notice - from Centerlink. The Commonwealth bank person on the 'phone indicated that the bonds are usually required to be paid at least 2 months before the CPV is granted - and accepts it can take "months" to get its release to the payee ( due to Centerlink - and a suggestion that there are staff shortages.) and.. the bank is looking to work with Centerlink to revue the process. Not sure if that is Centerlink proposed co-operation - or vice versa - or just BS! It means in real terms that the $10,000 is earning at least 4 months interest to date - that is not going into our daughters account! Will update when there is any change.... Quote Link to comment Share on other sites More sharing options...
Amber Snowball Posted November 14, 2018 Share Posted November 14, 2018 (edited) 8 hours ago, Mike@Bonbeach said: Can't remember exactly, but it wasn't too long. Maybe a couple of months. But I do believe your sponsor has to request it from CBA otherwise they would just roll it over into another Term Deposit. (so we were lead to believe). Mike Thanks. I am the sponsor and as I have left Australia I have left instructions with the Commonwealth to pay into my account once they receive the release notice from Centrelink. As ever it sounds as if the hold up is with Centrelink. ETA: just to add Commonwealth will put the money back into a term deposit but will release it without penalty early once the release is received. So might not get the interest but won’t be charged a fee either. Edited November 14, 2018 by Amber Snowball Addition 1 Quote Link to comment Share on other sites More sharing options...
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