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?