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  1. #31
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    anyone else losing the depth on ANZ?

    mine looks like this:
    Capture.PNG

  2. #32
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    Looks like it is back now ,I had the same problem

  3. #33
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    Have read the memo t. This is for a family trust which currently does not have any exposure on the ASX and may not do for a awhile yet. So it involves getting all trustees ID'd etc. Just a pain in the proverbial really

  4. #34
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    Quote Originally Posted by Jay View Post
    Have read the memo t. This is for a family trust which currently does not have any exposure on the ASX and may not do for a awhile yet. So it involves getting all trustees ID'd etc. Just a pain in the proverbial really
    Yes a right PITA. Surely all the info held by ANZ Securities/ Direct (The old one) should be available to them. Even when Direct took over the clients of Access Brokerage there was no requirement to repeat all the ID rubbish. It was seamless change at the time.

  5. #35
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    Quote Originally Posted by 777 View Post
    Yes a right PITA. Surely all the info held by ANZ Securities/ Direct (The old one) should be available to them. Even when Direct took over the clients of Access Brokerage there was no requirement to repeat all the ID rubbish. It was seamless change at the time.
    I was involved with that process. Round about that time 2005-2006 things started getting a lot tighter regulatory wise. (Direct Broking got a "compliance officer" on board etc)I think it has got worse since then too. Cannot really blame Direct/ANZ/FNC for complying with the law as much of a pain in the ass as it is.

  6. #36
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    True blackcap, banks are the same I think.
    But as 777 says, why can't we just carry on and they can update overtime, after all we didn't ask them to sell the broking side, but then again ANZ themselves may have had to do this in any event in time.

  7. #37
    Ignorant. Just ignorant.
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    As long as New Zealand has no reliable system for proving identity, the compliance gnomes will continue to proliferate.

    Ineffective, unimaginative, box-ticking at it's worst.

  8. #38
    Dilettante
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    Quote Originally Posted by GTM 3442 View Post
    As long as New Zealand has no reliable system for proving identity, the compliance gnomes will continue to proliferate.

    Ineffective, unimaginative, box-ticking at it's worst.
    Agree. This is a ridiculous process. Took me ages to work out what info was ĻincompleteĻ for myself and the other Trustee on our family Trust. Turned out the type of driverīs licence was missing. The number of the driverīs licence was there but not the type. Doh.
    What happened about that RealMe thingy ? Why isnīt everyone made to have some form of electronic ID that can be easily and quickly used, as is becoming common overseas ? Time to get into the 21st Century

  9. #39
    Guru minimoke's Avatar
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    This whoel ID thing is driving me nuts. I've been through it so many times in the past years there are hours if not days of my life I will never get back. Shouldn't my IRD number do?

  10. #40
    Investor
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    Oct 2016
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    Quote Originally Posted by minimoke View Post
    This whoel ID thing is driving me nuts. I've been through it so many times in the past years there are hours if not days of my life I will never get back. Shouldn't my IRD number do?
    The legal requirements FNZC has no choice but to operate within say no.

  11. #41
    Anonymous idiot Onion's Avatar
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    Default Direct Broking will deduct a margin from interest

    The FCNZ T&Cs mention that FCNZ will take a cut (as yet unspecified) of the interest paid on the [transferred] Cash Management Account:

    7.8.1 The rate of gross interest paid to you on money held on your behalf in the Cash Management Account(s) does not equal the interest paid to FNZC on amounts in the Cash Management Accounts. Instead, the interest paid to you on money held on your behalf in the Cash Management Accounts reflects a margin deducted and retained by FNZC from the rate of interest that is paid to FNZC by the bank as the holder of the Cash Management Account on behalf of clients (the Margin)
    I have looked at the ANZ Securities T&Cs and cannot find an equivalent fee.

    Does anyone else have a concern with that arrangement?

  12. #42
    Ignorant. Just ignorant.
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    Quote Originally Posted by Onion View Post
    The FCNZ T&Cs mention that FCNZ will take a cut (as yet unspecified) of the interest paid on the [transferred] Cash Management Account:



    I have looked at the ANZ Securities T&Cs and cannot find an equivalent fee.

    Does anyone else have a concern with that arrangement?
    Yes. Yes I do. I think it stinks.

    At the moment, i have no money in any ANZaccount - I place buy orders and then pop the money into the ANZ account before settlement date.

    I see that vanishing, and having no wish to have to maintain a balance in a brokerage account I will likely quit the NZX.

    So, anybody know of an offshore broker who will trade New Zealand?
    Last edited by GTM 3442; 26-05-2018 at 03:07 AM.

  13. #43
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    Quote Originally Posted by Onion View Post
    The FCNZ T&Cs mention that FCNZ will take a cut (as yet unspecified) of the interest paid on the [transferred] Cash Management Account:



    I have looked at the ANZ Securities T&Cs and cannot find an equivalent fee.

    Does anyone else have a concern with that arrangement?
    I do know back in the day, Direct Broking took a cut as well of the total amount invested (from memory it was .25%) so I am pretty sure ANZ would be taking a cut too. Nothing new here, just hope that the FNZC cut is similar and we get a similar return.

  14. #44
    Anonymous idiot Onion's Avatar
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    Quote Originally Posted by GTM 3442 View Post
    At the moment, i have no money in any ANZaccount - I place buy orders and then pop the money into the ANZ account before settlement date.
    Without the cash in your OMCA do you pay the non-discounted fee? I.e NZ$29.90 plus 0.40%

    The FAQ Do I get a discounted brokerage rate? says:

    Note: the discounted rate only applies if the required funds are available in the NZD or AUD OMCA account at the time you place your order.

  15. #45
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    Oct 2013
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    anyone else not able to place BUY orders today? Got told they are trying to fix it but can't give a timeframe
    Capture.PNG

    Edit: this is for ASX orders

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