Commsec money transfer question

[aaronphetamine]

Now I just wanted to see if anyone could shed some light on this and if any one can relate to this happening ? I'm going to contact comsec about it but i just wanted to consult here as well.

Now on the 16th I brought shares and then on the 17th i sold them for a net profit.
Becuase I had brought and sold before the settlement date of the buy, all comsec would do is deposit the net profit, which the settlement date for that was the 22nd of May.

Between when I sold the shares on the 17th to the settlement date on the 22nd, I had commited to other buys and sells.

It is now the 23rd of May and my bank account isnt showing any deposit ?? It is not a CDIA account, it is an external bank account linked to comsec ??


Has this happened to anyone else ?

Thanks, Aaron.

 

[macca]

I would think that they would offset the profit against the balance owed on the next buy.

 

[Bullion]

Yes correct, they will offset any other purchases made during that time.

I too was worried when Comsec did this to me. But it all works out in the end... They just prefer to keep your money as long as possible :

 

[Spaghetti]

Yes has happened to me but not always. Perhaps the money owing is used to increase your credit limit?

Has never happened the other way around btw.