Others   

Receiving Payment

Isn't GIRO dangerous for transactions that are variable in nature (eg. credit card, share trading etc..)? I do not even use GIRO for my credit card payments because I have experienced wrong billing on a few occasions before. 

 

My payment is via GIRO.  I usually dont check whether payment is made or deducted from my account.  I assume that it should be correct as any error or discrepancy will be detected by the broking firm accounts dept.  Anyone experience over-deduction or non-payment before ?

 

Contra player still can wait till the settlement date then the broker will call you up for payment.

Settlement date is T + 3 + 1 which meant that if you buy at Monday, next Monday your broker will then call you for payment.......They cannot ask you to pay up first if the settlement date is not due....

Broker is not your god father, ta meng mei you na mo hao shi.....

They are like banker, Sunny day lend you umbrella, Raining day they will quickly take back the umbrella.....

This is real life.....bo pian...

 

It depends on the amount you lost. If the amount is substantial, I believe your broker will go after you for payment. For smaller amount, it will be reflected in the statement of account and offset against your subsequent proceeds.

 

I got one question - what happens if you play contra and forgot to pay up? There was one time I bought and sold within the period and forgot to pay up for losses. No one inform me or remind me. I only remember after I check my account after a few days.

 

Tks Pinnacle

 

Taken from KE website. Due date is T+3.

When will I receive my payment when I sell my shares?

Settlement for both buy and sell trades of counters done through KE Trade is the same as normal trades done through trading representatives.

All sales proceeds will be paid to you on one (1) market day after the due date.

 

I am using KE

 

Taken from Poems website.

When will the sales proceeds be credited to clients for their shares sold?

If your EPS linkage has been established, we would credit your sales proceeds into your bank account 1 market day after the due date (T+4). Your bank statements would only reflect this amount on the next market day (D+2). If you do not have EPS, a cheque will be mailed to you on T+4.

 

 

My broker, Poems. I've never bargained with them. It's probably I don't trade "big". Any advice, Pinnacle?

 

T+5?

Which brokage you using?

My brokage pay out on the 3rd day morning everytime.

They never delay my payment... only sometimes I delay my payment a bit...

 

xinreng, you should receive it by T+5.

 

You should have received it by now if you sold on Monday.

Call your broker and check on it.

 

Hi I sold my share on Monday, why is it that now is already pass T+3 market days I still haven't rec my $ in my Posbank a/c. Is it I must wait longer