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JK Standing Instruction
hi, just wondering..why are standing instructions gets credited in different times? I checked my old transactions and they usually get transferred within a day.. for example, i have an SI on the 15th of month, some of them gets credited on the 15th, some on the 16th or 17th or 18th.
hehe, thanks.
Replies
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@JK We hear you on this. We've checked with our Customer Service team and can confirm that if the payment date falls on a Saturday/Sunday/public holiday, it will take effect the next working/trading day due to processing. We'll be working to get this information included in our Help & Support Pages, and hope to bring you even more seamless processes in the future!
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@heyanna I just don’t understand. Standing instruction should help customers automate some transactions so that they don’t have to do it manually. It should be automated, electronically & digitally done..so why does it matter which day of the week it is? The standing instruction should be done as per instruction date, right? If the SI is not done as per date instructed, it defeats the purpose of it being an automatic process. My RSP to my broker already got cancelled twice because the bank didn’t transfer the funds as per my standing instruction. It’s just frustrating!
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This is likely because the date set fell on a weekend or holiday. In these circumstances, it usually gets pushed to the next working day.
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