Previously we used to keep funds in Aust dollars once you sold Aust shares for use when purchasing further parcels of Aust shares.
Now the Aust proceeds are changed into N Z dollars costing approx 2% ex and when a new parcel of Aust shares is bought you have to buy Aust dollars for settlement from your N Z dollar account costing another approx 2% ex, you have no choice thats the way they run the show !!.
Are you sure?
Jarden would lose business big time if that was the case.
Yes I been buying and selling AUD shares via Jarden’s. I have both nz and AUD cash account.
The only time Jarden has converted money is when I failed to change the settlement currency from default nzd vs AUD.
When this happened I rang Jarden and they reversed the buy/sell order and reissued in the correct currency.
I thought their service for this was good. Probably need to do it straight away before settlement date.
Previously we used to keep funds in Aust dollars once you sold Aust shares for use when purchasing further parcels of Aust shares.
Now the Aust proceeds are changed into N Z dollars costing approx 2% ex and when a new parcel of Aust shares is bought you have to buy Aust dollars for settlement from your N Z dollar account costing another approx 2% ex, you have no choice thats the way they run the show !!.
Who is that with whatsup? With Jarden? I just checked, and you can still request your Aussie sells to be settled in AUD.
It seems you have been charged $29.90 + 0.3% of the trade value so it appears as though that is the rate for an online trade with insufficient funds in your jarden account. I suggest you call them tomorrow if you think they have made an error.
They are pretty strict with enforcing the terms and conditions. A month ago I tried (unsuccessfully I might add) to persuade them that charging me a $29.90 fee on an order that only filled $5 worth of shares was unfair but they just said they are applying the appropriate charging formula.
Originally Posted by whatsup
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