What happens if my share payment is overdue?

Settlement occurs two business days after the execution of a trade (known as T+2). This is when we’ll debit your account, and cleared funds need to be available by 8am in your nominated settlement account.

It’s important to keep track of your trade settlement obligations via your transactions and the contract notes you are sent when you execute a trade. You can also find your contract notes on our website – just log in to your account and go to Trading > Confirmations.

If you fail to meet your trade obligations on the settlement date specified on your contract note, we will send you a Trade Default notice via SMS or email. This will outline the overdue amount and provide a final due date for the payment. If you have received an email or SMS about your trade settlement failing you can easily settle your outstanding balance by either:

  1. Depositing funds into your nominated bank account
  2. Selling enough shares to cover the outstanding amount

If your linked bank account is a CBA account

All you need to do is transfer sufficient funds into your linked bank account. We’ll debit the outstanding amount within two business days once you have transferred. There’s no need to contact us, unless you need help.

If your linked bank account is not a CBA account

Please follow the instructions sent to you via email. Generally, you’ll need to transfer the required funds or BPAY the outstanding amount, and then notify us.

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.

If you fail to clear the overdue amount by the final due date, we may sell any of your shareholdings to clear your outstanding position, and we may close your account. You may be charged additional fees if we are forced to sell your shares to cover the overdue amount, and you will be liable for any potential losses incurred. You can find more information about our fees and charges here.

To find out more about our settlement processes, please read our Trading Terms & Conditions.


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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.

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