markor
19th-October-2004, 09:33 AM
Hi,
I use Quicken Quickbroker to trade shares. I opened an account a year and a half ago, mainly for the relatively cheap brokerage: $24.95/trade.
I have noticed however that it takes 2 working days to do a straightforward BPAY transfer from my savings account to my trading account. I have a feeling that this is a rather lengthy amount of time for such a transaction as I know that when I use BPAY to pay a phone bill, the transfer normally takes place in less than a working day.
The time taken to transfer funds back to my savings account after selling is even longer: normally 3 – 4 working days.
I surmised that because I am using a discount broker – perhaps I am losing out here to a premium broker in terms of transaction processing time.
Also, since Quickbroker are based in WA and I live in NSW, this may excacerbate the time issue. Just wanted to know everyone else experiences?!
Cheers,
Markor
I use Quicken Quickbroker to trade shares. I opened an account a year and a half ago, mainly for the relatively cheap brokerage: $24.95/trade.
I have noticed however that it takes 2 working days to do a straightforward BPAY transfer from my savings account to my trading account. I have a feeling that this is a rather lengthy amount of time for such a transaction as I know that when I use BPAY to pay a phone bill, the transfer normally takes place in less than a working day.
The time taken to transfer funds back to my savings account after selling is even longer: normally 3 – 4 working days.
I surmised that because I am using a discount broker – perhaps I am losing out here to a premium broker in terms of transaction processing time.
Also, since Quickbroker are based in WA and I live in NSW, this may excacerbate the time issue. Just wanted to know everyone else experiences?!
Cheers,
Markor
