I have a question on GIRO payment for selling and buying shares.

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21 Dec 2021 14:29 - 21 Dec 2021 14:33 #25907 by better
Assuming you had indicated that when you buy and sell shares, the amount will be auto deposited or deducted from your GIRO bank account.

Example, if today 21st Dec you sell $30,000 of Singtel shares and you buy $30,000 of Citydev shares (meaning both trades's settlement dates are on 24th dec), but your bank account now only has $6,000 , my question is then on 24th dec, will the $30,000 sales proceeds from selling the singtel shares be deposited in time into your GIRO bank account for the $30,000 purchase amount of Citydev shares to deduct??

Or will not be in time and the Citydev shares will be force-sold by your brokerage??

Who knows the correct answer to my this above question??
Last edit: 21 Dec 2021 14:33 by better.

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23 Dec 2021 09:37 #25908 by Joes
My take is that the sale proceeds will be deposited like clockwork into yr account.
As for your purchase settlement, if Giro can't deduct, surely your broker will be informed and will contact you. And give you an extra 1 or days grace period. goodluck!

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