Australian (ASX) Stock Market Forum

Help! How to transfer funds to buy shares

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I purchased shares thru ASX 3 business days ago (today is T + 3). I was under the impression, that thru direct debit, funds were simply withdrawn from my st george account (all details have been supplied to commsec) at T + 3. The funds are still in my account. Do i have to physically transfer funds to the seller (perhaps thru B Pay or some other method)?

A ridiculous question I realise, but its quite important.

Thanks,
Dan.
 
Settlement funds will typically be taken out overnight the night of T+3.

So if you bought shares last Thursday (T) then Fri (T+1), Mon (T+2), Tue (T+3) - funds would typically come out sometime tonight.
 
If the funds are still in your account tomorrow I would ring Commsuc to find out what is going on but the funds should come out tonight around midnight.
 
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