Help pls! Noob here... (Investing)

[Serebeii]

Hi, i just sign up for poems and i have made some trade today.

I believe the status "done" mean I have already acquire the stock.
If today is friday, when do i make the payment? And i believe i can use internet banking to make payment.

How do i know whether i can pay thru internet or GIRO? Will i receive any letter saying the GIRO is approved? I have receive letter saying "Direct crediting service" approve le, is this the EPS that i can use internet to pay?

Pls help me as i really noob and i cant call the helpline as it is only available on weekdays..

Thanks in advance..

[lytefunk]

By right, the due date for payment is on t+3, this means 3 working days after the due date. So in this case, it means you have to pay up by Wednesday.

I assume you are quite new to stocks trading.. You should be able to pay up on t+4 actually, ie Thursday. Why not call your broker/remisier/dealer and ask him? Thats what they are for :)

You can call them on Monday to ask. No hurry to ask over the weekends since you can't do anything anyway.

During application, you have a choice of EPS or Giro or cheque. I assume from what you say, you probably have EPS. In this case, you can use internet banking, or via ATMs to do a payment via EPS to the brokerage firm..

[Serebeii]

Thanks alot!! Yeah!! I m very new but been very interested in stock.. Just bought a few and learning.. Lol.. Hope not a very expensive lesson.. I will call them on monday.. lol.. anyway really thanks alot.. lol..

[MikeDirnt78]

make sure you use eps by T+3 9pm, the money will reach poems in time.

[Serebeii]

Let say i buy the stock on the 9/4... I pay using internet banking on the 10/4 10pm.. so will it reach in time? 11/4 will be a friday.. 10/4 is a thurday but after 9.30pm is consider another day transact..

Will it reach in time?

[MikeDirnt78]

Let say i buy the stock on the 9/4... I pay using internet banking on the 10/4 10pm.. so will it reach in time? 11/4 will be a friday.. 10/4 is a thurday but after 9.30pm is consider another day transact..

Will it reach in time?

i have already said you need to EPS by T+3. so you pay on T+2. it will reach in time

[Serebeii]

Haha.. Thanks! I get it!

[Insurance_guru]

Why not get a broker and he/she can assist you too.
At times when there are news on your counter he/she can call u and at least let u know wats going on

recently a few friends who just buy shares and said they dont need broker etc bought jade when it dropped..Of cos they had no idea. they thought it was cheap....and yeah they saved some $$ on the brokerage...but than again they lost $6k in the process....

They bought at 9c and sold at 7c....300 lots after finding out CAD was investigating the co....

[MikeDirnt78]

at the first place if you are knowledgeable, you shouldnt be dealing with jade at all

[Insurance_guru]

I didnt. I shorted but SGX didnt allow it.