Commsec deposits (share sale proceeds) - Aussie Stock Forums

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  1. #1

    Join Date
    Feb 2008

    Default Commsec deposits (share sale proceeds)

    Hi everyone

    I'm a little confused as to when Commsec will deposit my sale proceeds into my account?
    I sold Rio Tinto shares on Monday 27th July and according to the Contracts Notes Summary(on the Commsec website),settlement date was Thursday 30th July.I expected therefore,on Friday 31st to have the money deposited into my account so I'm wondering,where's my money

    Anyone any ideas?

  2. #2

    Default Re: Commsec deposits(share sale proceeds)

    I have found it takes three to four days working days for money to be taken out of the account when buying shares, and four to five working days when selling shares. It also seems to be an overnight update, which does not include Friday, Sat, or Sun nights. Would expect the money to be there Tuesday morning, based on experience.
    I'm free to bore my well-bought friends and spend my cash until the end - Iggy Pop

  3. #3

    Default Re: Commsec deposits (share sale proceeds)

    i think probable depends where funds are getting tranfered to. you have comsec account, is the settlement account with CBA? if so i suspect it should be available monday.
    T+3 = fri deposited, but may not appear on statement until monday.

    if the settlement account is with another bank, then funds seem to "get lost" for a few days.

  4. #4

    Default Re: Commsec deposits (share sale proceeds)

    Money should only come in on the night of the settlement date.

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