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Online Share Trading

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Cash transfer between accounts... Again!

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DCTrader
Super Contributor
When is this functionality going to become available... it's now been "in the pipelines" for years! It's often such a mission (and delay) to phone the call centre to get this done that I end up purchasing warrants and instalments in the normal account. Then to get the purchased instalments moved across is also a struggle. Please could you guys look into getting this up and running...
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15 REPLIES 15
Not applicable
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rp
Occasional Contributor
Yes. This must be addressed as a priority issue.
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Airborne
Occasional Contributor
I support the above, but ask further if the need for a separate warrants account has ever been satisfactorily explained?
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barry_1
Super Contributor
Warrants are regarded as straight income i.e. profits are regarded as interest income and are taxed on the full amount added to your other income.On the share portfolio dividends only taxed at a rate of 10% from 1st Oct.Its easier for the income office to accept the difference as it is set out now.Also warrant trading is cheaper than share trading.I also have warrants on my share account as i always don't always have enough on my warrant account ,especially for "spur of the moment purchases" and i would loose the advantage if i waited for the money to be transferred!
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Victoria_1
Contributor
Do you pay more for your warrants transaction if you do it from your share portfolio?
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barry_1
Super Contributor
Yes,full price i.e. same price as shares.
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bothac_1
Contributor
Just had the age old problem again, but get this. Request a transfer to my warrent account around 16:00, get a email 16:30 to tell me (please note the perfect tense) "that my request has been processed." The money is still in my share account!
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DCTrader
Super Contributor
And I bet you missed out on trading what you wanted to trade? It's happened to me in the past where I've requested a transfer but it took too long so I just made the trade in the normal account. Then after I'd received my purchased instrument, my cash was debited with the amount of my transfer leaving me with a huge negative balance! It was more of a mission to recon than the Mpumalanga finance department...
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Samir
Super Contributor
I am responding to this discussion in the hope that it stays in the last 30.... Though we have tried this before and it falls on deaf eyes/ears.
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dries
Occasional Contributor
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asylum
Super Contributor
You guys dont get it. They wont change the system because they make more money that way. You see it takes so long to do a transfer to your warrants account so you get the hell in and buy anyway on your share account thereby paying a lot more. Doesnt work for us but works for them thats how banks make their money.
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barry_1
Super Contributor
er yes,u r on the button,completely correct!!!!!!!
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Not applicable
That's what Jagulars always do, said Pooh, much interested. "They call 'Help! Help!' and then when you look up, they drop on you."
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Preston
Super Contributor
Dude , you are killing me with this "stinky Pooh" sh*T
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Not applicable
I can quote Confucius or Jesus too... I find Pooh to be more relevant.
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