Commsec fake sell

Originally posted by ainsleym ↑

Chaya, as a precaution, every day before 10am I religiously check 2 things. Firstly, the cash balance in the CDIA account. Secondly the balance showing in the Transaction screen which logs your previous day's trades and the end of day balance ( which may be in debit or in credit). If the ledger balance is in the red, make sure that you have sufficient funds in the CDIA account to cover it and if not, urgently put some cash in BEFORE 9am to cover the impending debit. Because of T+2 sometimes it can get a little complicated or perhaps confusing especially if you are day trading a lot of stocks and comsec does not re=balance the CDIA account everyday. But as long as those 2 things are done, every morning without fail, then comsec will not need to tap into your other bank accounts. For recording purposes and peace of mind I also maintain a spreadsheet updated before market opens which records the CDIA balance and the Transaction Ledger balance. I learnt the hard way to do this because some years back comsec had a technical problem with Ledger updating, in which case I had to manually tally up the previous days trades ( buys and sells) so I knew exactly where I was before market opening time and credit/debit the nett amount notionally from the CDIA funds so when trading resumes I knew where I stood. Easy enough to do, but it was a pain as I trade a lot. Always pays to keep a spreadsheet summarizing daily exactly where you stand with these accounts in case systems go down.

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Hi Ainsleym - firstly thanks for you reply - much appreciated.

What you suggested there is pretty well my 'modus operandi' as well but if I may, when you said -

"and the end of day balance ( which may be in debit or in credit). If the ledger balance is in the red,"

Are you referring there to the 'estimated Settlements' at the top RHS of the Home page ? where we see either 'no settlements due' or a figures in red or green depending obviously on the trading we've done.
If you are and I believe so then I must add that Commsec have admitted to me that the figures there are "estimated only" which is written clearly on that box of course but what I didn't know was the figure can be out well 0ver $20k as it was for me so yeah, the transactions need to be monitored separately but in my case the that information I had was wrong as well.
Anyway it has been resolved with a lot of help from a young bloke at Commsec but what I've learnt out of this is that Commsec can access any account you have with the CBA at any time which I didn't know so I'm just tellin' anyone that if you think you're being dealt a bad deal then get your dough out of where they can simply barge in and take it like thieves in the night.