SelfWealth Launches Instant Deposits Functionality

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We’re really excited to announce we’ve enabled instant deposits for all SelfWealth accounts. You don’t need to do anything to enable your account, just continue to transfer money into the same BSB and account number. Common questions are below.

What does this mean?

Instead of taking 1 – 2 business days, deposits into your SelfWealth account are now near-instant.

How do I use this feature?

Simply transfer to your SelfWealth cash account as you normally would, using a bank transfer (not a BPAY transfer) and it will arrive in a few moments.

How does this affect BPAY transfers?

BPAY transfers are not affected, meaning if you want to get money into your account quicker, be sure to use the BSB and account number found in your trading account to transfer from your personal bank account to SelfWealth.

Does this impact withdrawals?

Withdrawals are unaffected, meaning they will still take 1 – 2 business days.

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  • how they can do that ?

    • +3

      They're probably supporting Osko payments now

      • i thought there is limit with osko ?

      • is osko different to npp ?

  • +3

    Not a bargain.

  • holy this is great

  • +2

    Associated? And not a bargain

  • This is all I've ever wanted.

  • +4

    Clearly doesn't belong here

  • Trying to find a deal here

  • +3

    Give us 10 free trades with instant deposit and it's a deal

  • Doesn’t belong here but thank you, it actually applies to me!

  • This happened about a week ago. I can confirm that it works.

  • can anyone confirm that selfwealth will give simple easy to read tax statement with all the numbers and ato code, where we can just enter during lodging tax return (online) ?
    i mean including foreign component, profit loss, carry forward loss, correct cgt discount, cost bases, etc etc ?

    • Does anyone do this?

      Just use

    • +1

      AFAIK, I don't think any CHESS sponsored broker does this.

      You need to get the said info from the share register (Computershare/linkmarketservices) or use something like sharesight.

      But do be careful if you're using sharesight, the data for ETF/Managed funds might not be accurate until they receive final reports from the Funds (for 2020/21 this happened last week).

  • Nice. might switch back over from Commsec and save a nifty .50cents each trade!

  • +1

    Great this is now supported. Good PSA

  • Not working for me. Is there a trick to this?

    • +1

      Worked fine for me an hour ago. I did transfers under $1000 so the payment was done using Osko. The payments were showing in my Selfwealth account in seconds.

      • So payment needs to be less than $1000? Tried that and still not working. CBA says they support OSKO. Rang to ask why and was on hold for over an hour before I got cut off.

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