You stated : - "They do have the power to do that to balance the books"
Hi Roam and anyone else that is interested - yes I think you are right mate but I have to tell all that are interested, I have found out in no uncertain terms that they can go MUCH further then that.
I am not yet quite sure if the supposed debt that they have inferred is even correct but I will get to that before much longer. The point was that if I didn't comply and sell some shares quickly to cover their supposed debt then my trading account (i.e. my ability to buy was the only side affected) was going to remain locked and I desperately wanted to buy today so I sold at 10:10am this morning as requested by Commsec to satisfy their demands - all good you'd think - NO.
What happened next is the scary bit - their software system for whatever reason this morning did not cope and consequently my sell trade was not recognized in time by Commsec's accounting system to confirm that the supposed debt was satisfied in time so what did the Commsec machine do - unbeknown to me Commsec's software has the ability to automatically access my personal CBA pensioner account that is NOT linked to Commsec as is my Commsec CDIA account which is the banking link between the CBA and Commsec.
They had emptied my CDIA account the day before so today they went one step further and were able to all but empty my savings account - Please don't anyone tell me it can't happen, it did today and it happened to me.
They knew the sell at 10:10am was there, all they had to do was to wait 24 hours until their system caught up with this rush and take the money but no - they went for my pensioner account even though it was entirely their doing.
I find it incredulous that they can do this and I have sent a not so nice interpretation of how I see Commsec's management - the workers are wonderful, the decision makers are not.
The young bloke helping me apologized and has informed me that he will push my 10:10am sell trade through overnight to get my funds back into my pensioner account tomorrow which is real nice of him but my compliments stop right there.
Be warned people - if you owe these horrible people that manage Commsec any money - even your unlinked CBA personal account is NOT SAFE .
