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Maybank Cash Upfront also can overdrawn?
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TSHumbleBF
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 Jul 2 2020, 11:28 AM, updated 6y ago
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So, I have a Direct CDS Cash Upfront maybank trading account. Say for example my account balance is RM 1,000. I managed to purchase 5000 units of 0.20 = RM 1,000 and its matched. Then, my broker said that my account is overdrawn and I need to pay overdrawn fees + interest. This is because havent take into consideration of the transaction fees. So since I ignored the transaction fees. My account was overdrawn Has anyone experienced this? Is it this way for all Direct CDS account? Well another new lesson learned to me which cost me an extra fees.   This post has been edited by HumbleBF: Jul 2 2020, 11:33 AM |
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ozak
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Jul 2 2020, 01:20 PM
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It should pop out a message "insufficient fun".
But you should know the fun is not sufficient before the purchase right?
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Yggdrasil
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Jul 2 2020, 02:28 PM
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QUOTE(HumbleBF @ Jul 2 2020, 11:28 AM) So, I have a Direct CDS Cash Upfront maybank trading account. Say for example my account balance is RM 1,000. I managed to purchase 5000 units of 0.20 = RM 1,000 and its matched. Then, my broker said that my account is overdrawn and I need to pay overdrawn fees + interest. This is because havent take into consideration of the transaction fees. So since I ignored the transaction fees. My account was overdrawn Has anyone experienced this? Is it this way for all Direct CDS account? Well another new lesson learned to me which cost me an extra fees. :confused: Happened to me once. It's likely overdrawn because it lacks funds for the clearing fee and commission. My broker told me to top up like RM6 immediately. I didn't ask him whether got interest though. |
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oldsoulguy
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Jul 2 2020, 02:33 PM
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New Member
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I had a similar case like you. If not mistaken, it ended up as insufficient fund. So the shares purchased was unsuccessful. Atm, I would normally buy below the remaining balance that I have instead of buying with the exact balance.
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TSHumbleBF
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Jul 2 2020, 06:57 PM
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For me, I buy above the exact amount then it pop up insufficient . However, I order at the exact amount and it went through.
Then on the same day it matched, few days later my broker told me to top up RM 20 due to overdrawn+ interest.
I asked him what's the percentage then he said is around RM 5.50.
So I think my case was transaction RM 10++ ADD OVERDRAWN RM 5.50
But I'm not too sure yet as the money is not deducted yet
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TSHumbleBF
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Jul 2 2020, 07:00 PM
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Can't find any source that state these charges.
I am aware that I need to pay the transaction fees.
But since it went through I tot my account will just show a negative balance and I'm able to top up anytime in the future.
BUT I totally do not know anything about overdrawn+ interest in a cash upfront account
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