Why it takes so long to transfer back the money and to settle the money from a sell

Fx sales taxes and stuff. I lost a lot of money from this and when I put money in account goes in that moment, but to take them back must be so complicated.

Unfortunately, despite the fancy apps on the front end, a lot of financial systems are still rather old-fashioned on the back end!

Getting money credited to your brokerage account when you sell a share normally takes 2 or 3 days (this is normally written as T+2 or T+3) and is an industry standard across all stockbrokers. It is to give the brokers time to handle the administration behind the scenes (they have to transfer share ownership information and money between brokers). Lots of people say this should be able to be done faster in the modern age, but I think the industry is quite happy with having the extra time to sort things out and is in no rush to change. If you’re selling your shares, most brokers are confident that they will eventually receive the money from whomever you sold the shares to, so you can usually buy other shares before the first transaction is ‘settled’.

Transferring money from your Freetrade account to your bank account takes time because they use the low-cost and slow BACS bank transfer system, rather than Faster Payments, which would be more expensive. That’s just a matter of ‘you get what you pay for’.

It’s still more efficient than the old way, though, which was called ‘the cheque is in the mail’ (followed by ‘the cheque is clearing’).

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