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$100 Credit that can be turned into Cash for Signing up to Bell Direct Trading

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$100 Credit that can be turned into Cash for Signing up to Bell Direct Trading
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cloudbox on 28/10/2012 - 13:53 belldirect.com.au (607 clicks)
Last edited 29/10/2012 - 19:49 by 1 other user

Note - OP clarifies in comments that it's $100 of credit that becomes cash when transferred to your bank account.

—- original post —-

I got $100 cash after a couple of days after purchasing my first batch of shares. Not too sure whether you need to purchase/sell shares to get the $100 or just set-up an account. Nevertheless, $15 brokerage which is cheaper than most brokers such as CommSec.

I recommend sending the application forms by email, because if they have a problem they can respond back to you quickly.

mod - amended per OP's comments that it's credit which can be turned into cash by transferring to your bank account; members report an alternative to trading is depositing $5000 cash with this business

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closed Comments

  • Mikinoz on 28/10/2012 - 13:54

    Please change title to credit, as its not exactly cash.

    • cloudbox on 28/10/2012 - 13:56
      +3

      Cash, because you can transfer it to your bank account. I edited my post above for clarity.

      • Mikinoz on 28/10/2012 - 13:58

        Oh okay, nice one.

  • swimmingtoad on 28/10/2012 - 14:05
    +3

    Step 1 – Open a Bell Direct trading account.

    Step 2 – Transfer your shares OR deposit $5000 into your cash account.

    • CyberMurning on 28/10/2012 - 15:29

      what if someone just deposit and never do any trade, can they get $100 and then close the account?

  • Turd on 28/10/2012 - 14:38
    +1

    How easy is it to transfer the $5000 out of the account?

    • cloudbox on 28/10/2012 - 15:05
      +1

      you need nominate a bank account under you name when you sign up. You can transfer funds to that account only. It's easy.

    • airpoe on 28/10/2012 - 15:07
      +1

      just click transfer funds and will appearing your bank account that night or next day.

      Its a share trading account, hence funds are transferred often so you don't need to ring up or jump through hoops

  • abc on 28/10/2012 - 15:41
    +2

    For NRMA members there is also $100 cash after your first trade settles (plus every 5th trade free) https://www.belldirect.com.au/nrma/

    Remember when this was $200 :( after first trade settlement.

    • wildstone on 29/10/2012 - 17:44
      +1

      How do we stack both of them so that we get $200 ?

  • Windows7forever on 28/10/2012 - 15:51

    Looks good, but is it safe to let them borrow $5000 of my money?

  • xyron on 28/10/2012 - 15:57

    Is there a reason I would go for Bell Direct (other than their $100 promo) over CMC Trading which has $9.95 brokerage?

    • Merlict on 28/10/2012 - 16:53

      If you're with NRMA it would be $60 per 5 trades vs $50 per 5 trades

      $200 in bonus credit, would mean you would need to do 100 trades to make up the difference?

      (I'm not very good at maths, just putting it out there)

      • cloudbox on 28/10/2012 - 16:56

        Brokerage is still the same $15. It reduces to $10 after 10 trades.

    • CyberMurning on 28/10/2012 - 19:30

      cmc is money market, bell (i think) is not.
      google what money market means (something like not using real market price but they create their own spreads)

  • Turd on 28/10/2012 - 17:08

    Oh so you have to make a trade then you'll get the $100

    • vipulrm on 29/10/2012 - 09:38

      Does anyone know if a trade needs to be done to get the $100 or should just transferring $5000 entitle you for the cash?

  • jm48 on 28/10/2012 - 18:22

    HSBC Online share trading had the $100 cash bonus deal recently
    http://www.ozbargain.com.au/node/76013
    I joined and got the $100 OK.
    But I think HSBC use the same broker as Bell direct,
    so if you signed up for that deal,
    you may have problems creating a new account under the same name ?
    Anyway I think I better close the HSBC account first, before signing up for this.

  • shaybisc on 28/10/2012 - 20:57

    hmmm

  • czking on 28/10/2012 - 23:24

    Server is too busy

  • crudman on 28/10/2012 - 23:47

    Bell Direct isn't always cheaper than most other brokerages, they simply have a different pricing model. Despite their ads making you think they are one of the cheapest out there, this is merely a misconception despite the ads being true.

    Their per trade pricing may be straight up cheaper, but they offer a cut down service which the biggest exclusion is live pricing. Most banks will offer this in their most basic offering. Bell Direct lets you purchase live pricing separately as a subscription. So depending on how much you trade, Bell Direct may or may not be cheaper. Also good luck trading without live pricing - it's hardly a viable option. Think of it as trying to buy petrol today at yesterday's pricing.

    As with any financial service, there are countless other variations which make the obvious choice no longer obvious. Read the PDS.

    Also, having a brokerage with the same bank as one of your normal bank accounts has the benefit of faster transfers for trade settlements.

    • jm48 on 29/10/2012 - 10:52

      And their cash account only earns 2.2%
      https://www.belldirect.com.au/tradenow/fees/
      So it is a waste to have money sitting in the account, waiting for a good share purchase opportunity.
      And it would take a day to transfer from another bank, which stops any quick purchases.

      But who cares, I just want the $100, then ditch them if you don't like them.

    • SomeGuyOnOzB on 29/10/2012 - 19:54

      Do you mean, trying to buy today's petrol at a good rate from some service station, when you only know what the service stations charged yesterday?

      Would an alternative to purchasing Bell Direct's live pricing be to have a free Commsec account and get access to live pricing from there, and using that with Bell Direct's purchasing and selling?

  • Turd on 29/10/2012 - 11:38

    It says it takes 3 days for your account to be made after you fax the forms.

  • user27 on 29/10/2012 - 15:04

    do you need to transfer ALL of your shares say from COMSEC to Bell? or just one ASX code will do?

    • jm48 on 29/10/2012 - 15:45
      +1

      On the linked Bell direct offer page it says
      "If you want to transfer only some of your shares, that's ok too, just let us know on the form."

      Those standard transfer forms give you the option of all or part transfers.

  • nimbin2k on 06/11/2012 - 18:44

    can anyone confirm that they've received the credit after just the 5k deposit? (and how long did it take to appear).

  • coolsteps on 25/11/2012 - 01:40

    i called up and they said your 5k needs to sit there until the end of nov to qualify for the $100 or you could simply transfer some of your holders to bell direct. does anyone know if children can sign up to get this $100 offer?

  • coolsteps on 26/11/2012 - 16:52

    anyone know if you fill out the issuer transfer form you will still qualify for the $100 ?
    i think you should.
    does anyone know if children can sign up to get this $100 offer ? since its minor application under your account i dont think they will pay up. cant get a clear answer called up and one said yes and then called again and other staff member said no.

  • spendinghacker on 28/11/2012 - 17:40

    Received this reply today from their customer service:

    "You may use the deposit for orders but will not be able to transfer funds out to your Nominated Bank Account if you would like to qualify for the $100 credit.

    The $100 Switch promotional credit will be credited into your Direct Cash Account by mid December 2012."

    Be very careful if you just plan on depositing 5K to get the $100 credit and have no intention to trade or even use the full 5K for purchasing shares. Your 5K might be stuck in their 'cash account' and you won't be able to get it out! All they will pay you is a measly 2.2% p.a in interest.

    Also, keep in mind that Bell Direct's "Direct Cash Account" is NOT actually a bank account but rather a money market investment account. This means that the money in such an account is NOT GOVERNMENT GUARANTEED!

    Buyer beware I say.

    • spendinghacker on 28/11/2012 - 19:13

      Further clarification received from Bell Direct customer service:

      "The requirement to maintain the deposit of $5000 until 30th November 2012 is applicable to all our new clients. We will require that you maintain the initial $5000 in your account with us until the end of promotion period (30th November 2012) to qualify for the $100 credit.
      You may use the deposit for orders but will not be able to transfer funds out to your Nominated Bank Account until the end of the promotion period (30th November 2012) if you would like to qualify for the $100 credit."

      My apologies if I confused anyone. My previous comment about Bell Direct's "Direct Cash Account" not being a bank account and therefore not government guaranteed still stands though.

  • nfr on 29/11/2012 - 15:33

    Anyone got the $100 after share transfer?

  • coolsteps on 03/12/2012 - 15:51

    that suxs if i knew i probably wouldnt have opened it. The 5k doesnt have to stay in there now to get the $100 as its after nov 30th right? now is it possible to buy any share parcel for $100 or not? what shares a good buy?

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