When you buy or sell shares, a process called T+2 settlement takes place where ownership of the shares is exchanged for money between the buyer and seller. This occurs on the second business day after the trade takes place.

If you’re buying shares

We’ll automatically debit your linked bank account 2 business days after your trade. Make sure you’ve got sufficient funds by 8AM that day. If we can’t debit the required funds on T+2, you may be charged a late settlement fee.

If you’re selling shares

Proceeds will be automatically credited into your linked bank account 2 business days after the trade. It may take another business day for you to be able to access those funds.

If you buy and sell within 2 days

We’ll offset your buys and sells so that we debit/credit the difference. We call it contra. Tell me more

Knowing how much and when

There are two ways to find out:

1. Your trade confirmation note that’s emailed to you

For Buys                                                                                               For Sells        

Look for the Total Cost owed on the settlement date.                           Look for the Net Proceeds credited on the settlement date.

2. The Estimated Settlement Calculator located in Home after you log onto CommSec. This is handy if you’ve bought or sold multiple times within 2 days because the Calculator will aggregate the amount.