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Originally Posted by Jay
Print out the email, there's your hard copy, that's what I do, still costs a lot less than $2 a copy
It's costs me nothing at ANZ, I don't use ASB and this is another reason why not, besides their brokerage being 50% dearer.
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As someone commented on the proposed sale on the NBR site, in this digital age, why are there only really 2 players for doing it yourself and why can't we also buy and sell other exchanges (apart from ASX) online as well, as overseas brokers are now refusing to take on new overseas clients due to AML etc.
Not sure why ASB does "copy" across the CBA platform, not exactly state of the art, but better then the current from what I have seen as Ogg point out not a lot of development/enhancements done in the last 10 years. I did ask at one stage when I had another query sometime this year and said that a refresh/upgrade was on the way sometime soon, may have been Jan/Feb 2018. Don't quote me though!
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I just had a conversation with Halifax and they are looking to offer a platform for trading of shares on the NZX, they have had a lot of enquiry regarding this, would be great to get a third no frills player in the mix. Quite a few hoops to jump through though to get something up and running.
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Had to smile. My first on line trading account was with Direct Broking and I have stayed ever since. I've just opened a new account pretty much only because their fees are lower than ASB. And I guess I am used to navigating their site. ANZ Sec is functional but has limitations. For example updating the different areas is flakey. My portfolio balance lags, my watchlist lags - pretty much the only way I can get close to real time is going Depth. The link between ANZ Bank and ANZ securities is pretty renous. For example i transferred money out of my ANZ account this morning - no sign of it in my OMC account yet. And the clearance times of trades takes ages (days) for the money to flow. I get the impression there are a load of people behind desks shuffling paper for every transaction.
I see nothing in the statement that hints at any improvement in customer experience. The big question for me is the structure of the trust account which will hold my trading funds
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mm, the first thing that will disappear, will be the current interest rate of 1.25%, it will revert to some tiny number like 0.1% if anything.
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Originally Posted by couta1
mm, the first thing that will disappear, will be the current interest rate of 1.25%, it will revert to some tiny number like 0.1% if anything.
Yep, as mini posted I am concerned around the structure and security of assets with this institution ,surely not same credit rating as ANZ . Will they have the ability to pay for SPP etc ??
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Originally Posted by couta1
mm, the first thing that will disappear, will be the current interest rate of 1.25%, it will revert to some tiny number like 0.1% if anything.
That doesn't worry me. Even now its an inconsequential rate. I only have enough money in there to see me right for 1 new trade.
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Less is not more. I foresee as lower call account rate and I also note there was no assurance in the press release regarding brokerage rates staying the same.
I see this in the same light as Z taking over Caltex...we're paying more.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Member
I can't see how we don't have more options by now. DirectBroking and ASB have been the only two online brokers available for as long as I can remember. This has resulted in fees staying the same ($30) per transaction for a very basic service - pretty much for executing orders. While in Australia they have multiple options where brokerage ranges from $9.95 to $19.95, the more expensive option being via Commsec where you also get a comprehensive suite of software for live charting and news which make it worth paying more.
Reminds me of the Telecom/Vodafone duopoly before 2Degrees came in.
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Originally Posted by hummerh40
Reminds me of the Telecom/Vodafone duopoly before 2Degrees came in.
Reminds me of the ASB/Direct Broking/Access Brokerage triopoly(?) before one of them went "away".
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