CommSec Cash Investment Account

[master82]

The online transfer between CommSec Cash Investment account (CIA) and Cash Management account (CMA) should be instant.

But when I transferred $10,000 from CIA to CMA, I couldn't buy about $10,000 worth of OZL, the error was that I exceeded the limit and have to make a deposit - I just did - $10,000 instant transfer.

The purchase I was making is below $10,000 including brokerage fee. In the end I bought 3500 OZL shares for $5794.

Although the transfer was made but my CMA account still showing $0, maybe that's why I could not buy $10,000 worth of shares but isn't the tranfer instant as stated on CommSec website?

And the limit I exceeded, what limit?

 

[LeeTV]

Why don't you just contact CommSec directly? The same thing happened to me and I contacted CommSec and they emailed me a responce but I can't remember what it was, not much help I know

 

[alphaman]

I think you can withdraw the money from ATM, but you can't use it for trading (until next day). Apparently Comsec will have this issue fixed, but I doubt it's high on their priority list.