What is a CdiA account (CdiA)?
What is a Commonwealth Direct Investment Account (CDIA)? The Commonwealth Direct Investment Account (CDIA) is a cash management account specifically designed for CommSec share traders. It allows you to trade, save and transact when and where it suits you.
Are there any fees and charges associated with a CdiA?
Are there any fees and charges associated with a CDIA? If your Commonwealth Direct Investment Account (CDIA) is linked to a CommSec Share Trading Account and it was opened on or after 1 November 2012, the account does not incur a monthly account keeping fee.
Can I open a CdiA and a CommSec share trading account together?
Settle your trades directly and enjoy lower brokerage. Open a Commonwealth Direct Investment Account (CDIA) and a CommSec Share Trading Account together online now. Already got a CommSec Share Trading Account?
How do I transfer money from one CdiA to another?
Go to the Transfers tab then select Transfer money. In the From account drop-down menu, select the account with the funds you wish to transfer. In the To account drop-down menu, select your CDIA. Enter the amount you wish to transfer and an optional description, then click Next.
Is a CDIA worth it?
The main benefit of a CDIA is the cheaper brokerage fees, which come down to $10 compared to the standard $29.95 for trades up to $1000. In addition, account balances of $500,000 or more earn interest at 0.1% p.a.
Can you withdraw from CDIA account?
Withdrawal Fees CDIA accounts linked to CommSec Trading Account option allows for unlimited fee-free electronic withdrawals plus 2 fee-free assisted withdrawals each month. SMSF CDIA option allows for unlimited fee free electronic withdrawals and assisted withdrawals each month.
What is my settlement account CommSec?
To find out what bank account you are currently using for settlement, log in to your CommSec account and go to “Portfolio” > “Accounts”. Your linked bank account details are located at the top of the page below the accounts dropdown menu.
Does CommSec take money from CDIA?
Low trading fees. The main highlight of using the CDIA to trade shares through CommSec is the cheaper brokerage fees. If you buy shares using the CDIA account, you're charged a brokerage fee of as little as $10, compared to $29.95.
Do you get interest on a CDIA account?
Interest earned on CDIA accounts is calculated daily and credited to your account on the first calendar day of each month.
How do I buy CDIA shares?
0:1617:15CommSec Trading Tutorial: How to buy shares and ETFs - YouTubeYouTubeStart of suggested clipEnd of suggested clipYou go to contacts. Website go to join now. And then you'll see where they talk about the conceptMoreYou go to contacts. Website go to join now. And then you'll see where they talk about the concept trading account I'll let you read through this in detail obviously.
What is a settlement account?
an account containing money and/or assets that is held with a central bank, central securities depository, central counterparty or any other institution acting as a settlement agent, which is used to settle transactions between participants or members of a commercial settlement system.
How long does it take for CommSec settlement?
two business daysSettlement takes place two business days (T+2) after your order is partially or fully executed. Cleared funds must be available in your nominated account at the start of the second business day after your Buy order is executed.
What happens if you miss settlement CommSec?
What are the possible consequences for an overdue payment? Defaulting on your settlement obligations is serious and may mean you incur a late settlement fee of $100. Your account will be suspended from placing further buy orders, and your trading limit privileges may be reviewed.
How do I close my CDIA account?
If you are certain that you want to close your CDIA account, you will need to contact the Commonwealth Bank on 13 22 21 or +61 2 9999 3283 if calling from overseas. Alternatively you can visit any of our local branches to close your account.
Can I sell shares before they settle?
Can you sell a stock before the settlement date? The key is knowing if you bought the stock using settled or unsettled cash. If you bought the stock (or other type of security) using settled cash, you can sell it at any time.
Why is CommSec asking for a deposit?
To increase your trading limit, you'll need to provide a deposit via one of the methods below. The amount of your deposit should be 50% of the amount by which your trade exceeds your trading limit.
What is my CommSec account number?
This is an 8-digit number beginning with a “5” or an "8" which allows you to access all your CommSec accounts when you log in to the website. If you don't remember your Client ID, you can retrieve it online. For security reasons, you're unable to view your Client ID once you have logged in to your account.
What is stock settlement?
Settlement is the "final step in the transfer of ownership involving the physical exchange of securities or payment". After settlement, the obligations of all the parties have been discharged and the transaction is considered complete.
What is share settlement?
The settlement cycle in stock markets refers to the time between the trade date, when an order is executed in the market, and the settlement date, when participants exchange cash for securities or shares. Settlement marks the official transfer of securities to the buyer's account and cash to the seller's account.
Can I sell stock on the settlement date?
If you bought the stock (or other type of security) using settled cash, you can sell it at any time. But if you buy a stock with unsettled funds, selling it before the funds used to purchase have settled is a violation of Regulation T (a.k.a. a good faith violation, mentioned above).
What is a CDIA account?
The Commonwealth Direct Investment Account (CDIA) is the preferred cash management account for CommSec share traders - with it you can seamlessly settle trades, transact and earn tiered interest based on your account balance.
When do we recognise balances in CDIA?
We automatically recognise balances in your CDIA when you place an order, which means you can place a buy or sell order as soon as you see an opportunity, without the need to transfer funds or provide a deposit.
How to qualify for discount brokerage?
3 To be eligible for discount brokerage you are required to trade online, be CHESS sponsored and have your CDIA linked for settlement.
What is a Commsec loan?
A CommSec Margin Loan is a powerful investment tool you can use to unlock the equity in your existing investments, and combine with borrowed funds to expand and diversify your portfolio.
Can you have multiple CDIAs?
Yes. You can have multiple CDIAs under your CommSec profile.
Is there a minimum balance on CDIA?
There is no minimum balance on CDIAs. Interest on your CDIA is calculated daily and credited to your account on the first calendar day of each month.
Is there a fee for CDIA?
There are no account-keeping or electronic transaction fees for CDIA. Online transfers, direct debits and withdrawals from Commonwealth Bank ATMs within Australia are also free.
What is a CDIA account?
A CDIA functions like a transaction account , but with some key differences. You can use it to fund trades on CommSec, make regular transactions, and withdraw cash at an ATM.
When is interest credited to CDIA account?
Interest is calculated daily and credited to your CDIA account on the first calendar day of the month.
Can you use a CDIA account if you don't have a Commonwealth Bank account?
If you do not bank with Commonwealth Bank, you can still use a CDIA by transferring funds to your CDIA account to make your trades .
Do you have to pay ongoing fees for trading?
No ongoing fees so you can keep more of your money to trade with.
Do you have to use a CDIA with CommSec?
No, you do not have to use CDIA with CommSec. However, the lower brokerage fees and interest speak for themselves.
What is a CDIA account?
Commonwealth Direct Investment Account (CDIA) is a product of the Commonwealth Bank. CDIA is marketed and administered by CommSec. The information on this website has been prepared without considering your objectives, financial and taxation situation or needs.
When do access fees apply?
Access fees may apply when using networks’ overseas or non CommBank networks’ domestically or any transactions involving currency conversion.
What is cash management account?
A cash management account for investors allowing you to trade and transact when and where it suits you.
Is there a fee for CDIA?
No fee applied for CDIA accounts linked to CommSec Trading Account, or SMSF option .
What is a CDIA account?
The Commonwealth Direct Investment Account (CDIA) is much like any other transaction account except that it’s designed to let you trade CommSec shares. In order to settle trades via an online share trading platform, you’re required to have a linked cash management account.
How much does it cost to trade CDIA?
If you buy shares using the CDIA account, you’re charged a brokerage fee of as little as $10, compared to $29.95.
What are the benefits of using the CDIA?
Low trading fees. The main highlight of using the CDIA to trade shares through CommSec is the cheaper brokerage fees. If you buy shares using the CDIA account, you’re charged a brokerage fee of as little as $10, compared to $29.95.
What fees you can expect from a CommSec CDIA account?
There’s no monthly fee for CDIA accounts linked to the CommSec Share Trading Account and there are unlimited fee-free electronic withdrawals.
What are the pros and cons of using a CommSec CDIA account?
Low brokerage fees. If you settle your share trades directly through your CommSec CDIA account, then you'll pay as little as $10.00 per trade as opposed to $29.95 per trade.
Can you use a CDIA account to trade shares?
Here are its main functions: Buy and sell shares. After transferring funds onto the CDIA account, you can use it to trade shares and store any additional cash.
Can you keep CDIA funds in another account?
If you prefer to keep funds sitting in another account, you’ll just need to ensure you have enough cash in the CDIA should you want to have the freedom of placing trades at a moment’s notice.