u/Hxn1234

▲ 6 r/ASX_Bets+2 crossposts

CMC Markets - BSB number different from the one shown online vs recieved from company?

Hi,

I just started investing in ASX through CMC.
Have been recieving tonne of letters from the companies that I bought stock of, however I just noticed that for one of them, the BSB number is different than the one shown on my CMC sub account.

The BSB number on the paper from JIN: 014 936

The BSB number on the CMC website after logging my in account: 016 936

The account number is same on both.

Is this normal? I cant verify from the letters of other companies as I already shredded those letters.

UPDATE: Just called CMC and as per them, they have made this change themselves. Strange that they did not inform prior to this. As of now, both accounts could be used.

reddit.com

u/Hxn1234 — 1 day ago

▲ 8 r/fiaustralia

The below is mentioned on stake https://hellostake.com/au/transfer-shares-from-cmc-markets-to-stake?utm_source=copilot.com

CMC Markets charge a transfer out fee of $100 per holding on international listed products. Each holding must be over AU$10,000 in order to transfer the shares off platform.

A fee of $55 per holding applies for Australian listed products, where the stock transfer is leaving CMC Markets to another broker, Issuer sponsored holding or between CMC accounts.

Similar thing mentioned on CMC Markets.

But i have seen here many people recommending to buy through CMC and then transfer/sell through Stake for optimum brokerage.

So if I purchase 10 different shares under 1000$ each, I pay zero commission to CMC.

But when its time to sell, I have to pay 11 x 10 = 110 $ to CMC or (55<transfer shares> x 10) + (3<stake brokerage> x 10) =580$ to sell them.

Is my understanding correct?

u/Hxn1234 — 15 days ago