I placed withdrawal request yesterday night it showed me that the money will be sent to my account Tomorrow but it could take latest 27th December to reflect.. What does that mean?

Relax you'll be credited today.

hatbricker:
Relax you'll be credited today.

I hope so because I also transferred some bitcoin to other wallet outside luno and is yet to leave Luno let alone show up on the blackchain

Your withdrawal request will be sent to their bank at 9am today, you will get credited before close of business today or latest tomorrow, thank God tomorrow is still a working day so you will have money for Christmas.
For transfer to another wallet outside Luno, that will go through blockchain and blockchain has been having issues for more than a week now with some bitcoin transaction taking up to 4days to get completed.