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.

What's covered in this article?

  • If you're buying shares
  • If you're selling shares
  • If you buy and sell within two days
  • Knowing how much and when
  • Understanding your settlement amount

If you're buying shares

We'll automatically debit your linked bank account two 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 two 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 two days

We'll offset your buys and sells so that we debit/credit the difference. We call it contra. To find out more, search "If I buy then sell shares" or look for help under Related Support.

Knowing how much and when

There are two ways to find out when your settlement is due and how much it will be:

1. Your trade confirmation note that's emailed to you
  • For Buys - look for the Total Cost on the Settlement Date
  • For Sells - look for the Net Proceeds credited on the Settlement Date
2. The estimated settlement calculator

The estimated settlement calculator is located on the homepage after you log in to CommSec. This is handy if you've bought or sold multiple times within two days because the calculator will aggregate the amount.

Understanding your settlement amount

Sometimes a debit or credit to your settlement account could be the difference between your buys and sells (this is known as “contra” and it may apply if you do multiple trades within two days).

If you want to check how much you have been credited/debited for each individual trade, you can do this online. Log in to your CommSec account and go to “Portfolio”. Select “Accounts” and then click on the “Transactions” tab. If you can’t see the transaction you’re looking for, try adjusting the date range and make sure you’re viewing the right account.


© 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. CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

The information on this page has been prepared without taking into account your objectives, financial situation or needs. For this reason, any individual should, before acting on this information, consider the appropriateness of the information, having regards to their objectives, financial situation or needs, and, if necessary, seek appropriate professional advice.

CommSec does not give any representation or warranty as to the accuracy, reliability or completeness of any content on this page, including any third party sourced data, nor does it accept liability for any errors or omissions.