This morning at 10am I sold some shares through computershares, I was told it would take 3-5 working days. does anyone have any experince on when dirrect payment wil be delivered into my bank account? I'm assuming it will be from Friday to Sunday? Cheers.
Payment from selling shares
DEvok on 30/04/2014 - 13:20
Comments
so you dont have a broker?
if you did, generally it takes 3 days to clear the cash.
Thy are wes"westfarmers employee shares, you register an account and submit amount of shares and a charge for the shares to be sold.
This is the confirmation I received.
Confirmation
Your request to sell shares from your WESAP TAX EXEMPT AWARD has been successfully received. (Please note that sale requests submitted after 3.30pm or on non-trading days will be placed on market on the following trading day.)Once settlement of your sale occurs (Trade Date +3 business days) a Sale Confirmation advice will be mailed to your registered address and also available in the Correspondence link located under the My Holdings tab above. (Please be aware if you have chosen to wire your proceeds to a bank account outside Australia the deposit of those funds will take longer, depending on the payment currency and the financial institution involved.)
You can check the current status of your sale via the Transaction History tab in the menu on the left.
Are you selling your shares at the market price, vs. a price you have specified?
If it is at the market price, you'll probably get whatever the highest buy price is being offered for the shares. Otherwise, if your price is higher, you will have to wait and see and hope that there is a buyer out there willing to buy your shares at the price you specified.
If there is a trade, where the buy order matches your sale order, you will get a contract note. Settlement is T+3, trade day + 3 business days. So, if the trade occurs today, you will get your funds by Monday night / Tuesday morning.
My guess is that you will be paid on Tuesday. Share transactions take 3 business days to settle.
Thanks, i did receiver a email saying.
The sale will settle on 05 May 2014.
I would prefer the payment to be done on the day or even earlier if possible.
Comsec also take three business days for settlement whether you buy or sell.
It's not broker dependent. It's ASX market rules.
Have a look at this post
(https://www.ozbargain.com.au/node/174124)
The OP is right on top of payment times and stuffI work in settlements for Westpac and you most likely won't be able to withdraw the cash for 3 days. T + 3. If you sell the shares on Monday, you won't be able to withdraw the cash til Thursday when the cash settlement happens.
I did a transfer recently and got it in my account the following business day…