1. you've set up your regular contribution,

  2. the funds have been direct debited from your bank account,

  3. but you can't see them in your Professionally Managed Account (PMA).

Why is that?

There will be a delay between the funds being drawn and your contribution/transactions being shown in your Portfolio Manager.

This delay can take up to five business days.

This delay is due to the direct debit process with the bank. Here is the reason.

When InvestSMART run direct debits, the bank immediately credits our account with the funds requested. This crediting happens before the bank contacts other institutions to draw the funds from our client's accounts.

The bank contacts those institutions and attempts to pull the funds. If there are insufficient funds, the bank will try again in the next two business days. If they can't pull the funds, the direct debit is rejected, and the bank claws back the cash they sent through to us.

Because of this, we wait for that rejection process before transferring the amounts to client accounts.

Then, there is a 24-hour delay in our reporting on the website.

This is why there's a delay with funds appearing to be drawn from your bank account to when they are visible in your InvestSMART PMA.

Remember you can always use Bpay to top up your account at any time. You can also set up regular Bpay payments from your banking platform.

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