Settlement – how to pay or receive funds for a trade

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.

Settlement Calculator

Answers others found helpful



This site is directed and available to and for the benefit of Australian residents only. © Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and both entities are incorporated in Australia with limited liability.

By clicking on the "Download the CommSec App" buttons above, you will be directed to or These sites are not affiliated with CommSec and may offer a different Privacy Policy and level of security.