Dividend Direction Service
International Trading
How do I place an order?
Step 1. To place an order, you need to be logged in to your CommSec website using Client ID and password.
Step 2. Once logged in, navigate to ‘Trading’ then click on the ‘Orders > Buy > Australian Shares.
This will take you to the ‘buy order’ screen.
Step 3. You then type in the code of the stock you are buying. e.g. CBA. If you are unsure of the stock code, click on the magnifying glass on the right side of the search box. This will bring up a separate window. Next to ‘Code/Name’ type in the name of the company in which you wish to place a share order for.
If you do not know the stock code, click on the maginifying glass to search the relevant stock.
Step 4. Select the name of the stock you are looking to place a buy order on and this will automatically input the stock code for the company in the relevant box, then select whether you wish to place the order ‘At Market’ or ‘At Limit’.
Step 5. You then need to type in the number of shares you are purchasing.
‘Order Style’ is setting the expiry date for the trade. If you select ‘Good for a day’ the order will stay in the market until they are bought or sold or until the end of the day only. By the end of the day all units that have not executed will be purged from the market.
If you select ‘Default Expiry’ the order will stay in the market until they are bought/sold or for 20 ASX trading days. By the end of this period all units that have not executed will be purged from the market.
Step 6. Next you need to enter your contact details into the order form.
If you select ‘Proceed,’ this will take you to a summary page of your order. You will be required to type in your trading password before you can place the order.
Once you have checked all details are correct, select ‘Confirm’ and this will place the order for you.
Back to top
How do I supply Commsec with a deposit for a share transaction?
In some situations Commsec may require a deposit prior to accepting a buy order.
You can make a deposit for a trade by crediting funds to the CommSec trust account. The required amount is 50% of whatever exceeds your trading limit.
If you make a deposit into the CommSec trust account you should make the reference contain both your trading account number and name:BSB: 062004 ACC: 1003 1738
A Bpay payment can also be made to the above account using biller code: 35428. Your Customer Reference Number is listed on all the contract notes we send, you can also obtain it by calling us on 13 15 19.
Back to top
How do I access my financials/past contract notes?
You can access your financial records by logging in to your account and navigating to 'My Portfolio' from the main yellow menu. From here you can select either 'Statements' if you wish to view your monthly statements or 'Financials' to view all transactions on your trading account. You can save & print this information.
You can view/print/save your recent confirmations and contract notes online in your CommSec trading account by simply logging in to the CommSec website and navigating to My Portfolio > Confirmations >Most Recent. If you do not know the particular contract number you can leave this field blank and proceed with a start and end date for a chronological search.
Back to top
What is CHESS Sponsorship?
- How do I become CHESS sponsored?
CommSec CHESS sponsored stock means your shares are held with your broker, CommSec, on the ASX’s CHESS system. You have a holder identification number (HIN) which applies to all stocks held on your CommSec account when you are CHESS sponsored.
To become CHESS Sponsored you must fill in the CHESS Sponsorship Form and return it via post to:
Client Registry
Reply Paid 60768
Locked Bag 22
Australia Square NSW 1215
You can locate the CHESS Sponsorship Form on the CommSec website under ‘Tools & Support > Forms & Downloads’ then Download the ‘CHESS sponsorship / change of sponsoring broker’ form from the list of downloads.
Once the form has been received by CommSec, please allow a turnaround time of 24-48 hours to process your form, and you will receive correspondence in the mail via ASX/CHESS to confirm your CHESS Sponsorship.
Back to top
How do I transfer shares into my Commsec Account? What is issuer sponsored?
Issuer sponsored stock are shares that are held with the company’s share registry. You have an SRN for the stocks you hold with each different registry. These stocks will not appear on your CommSec portfolio.
In order to transfer Issuer Sponsored Stock to CHESS, CommSec requires a copy of your issuer holding statement with a Chess Sponsorship Form whereby the Issuer to Broker option box is selected. Please note that the letter must be signed by all share/account holders.
You can send this by fax to :
Attention: Conversions
Fax (02) 8292 4088
or alternatively by mail to:
Conversions
Locked Bag 22
Australia Square
NSW 1215
The CHESS Sponsorship Form can be downloaded by going to www.commsec.com.au and clicking on 'Tools and Support > Forms & Downloads.
The transfer time differs with each share registry, but will generally take a minimum of 3-4 working days. You may wish to ring the share registry to check how long it is taking to transfer stock.
Please note that the stock must be held under identical registration to your CommSec account in order for it to be converted. Changes in the ownership of the shares (such as adding a shareholder or changing a designation on the shares) may require an Off-Market transfer before the conversion can take place.
Back to top
What is the difference between ‘at Market’ and ‘Limit’ orders?
A market order is an order that will execute at the price that is currently available (and this is not guaranteed, depending upon liquidity of the stock being traded, and in keeping in line with ASX regulations) when your order is placed into the market. The client has no control over the price that they wish to sell or purchase the stock at.
A limit order is where a maximum buy or minimum sell price is set (and this is not guaranteed, depending upon liquidity of the stock being traded, and in keeping in line with ASX regulations). For example setting a limit price for a buy order is an instruction to purchase the stock at ‘no more than’ a specified price. Alternatively a sell order at a limit price is an order to sell the stock at ‘no less than’ a specified price.
Back to top
How do I complete a one off trade?
CommSec offers a “One-Off Trade” (OOT) service for clients who do not wish to open a trading account but have an issuer-sponsored holding they wish to sell.
A one off trade form can be obtained by :
Step 1. Visiting the CommSec website and clicking ‘Tools & Support'on the main yellow menu
Step 2. Click on Forms & Downloads > Australian Shares then scroll down to 'One-Off Share Trade form'
There are two forms available; one for existing Commonwealth Bank or CommSec customers and one for non Commonwealth bank or CommSec customers. Fill out the relevant form accordingly and return to CommSec as per the instructions on the form.
Once your one off trade form has been received, the SRN will be confirmed with the relevant share registry, and the trade will be placed as soon as practicable.
Your shares will be sold at the prevailing market price at the time the order is placed, and a contract note will be issued the same day. This contract note should be retained for tax purposes, as it details the price your shares were sold at and the brokerage paid.
Brokerage per trade for OOT’s is $66 for trades up to $10 000 and 0.66% of the value of the trade for trades greater than $10 000, which is deducted from the proceeds of the sale. Please note that each SRN will be placed as a separate trade.
OOT’s are settled by cheque, which will be posted to your nominated address on the relevant settlement date, usually the 3rd business day after an order is executed.
If you have more than one or two holdings requiring disposal, it may be more appropriate to open a trading account, which allows trades to be placed over the phone or internet at a cheaper rate, and settlement can be made direct to your nominated bank account.
Back to top
How do I accept a takeover or a buy back?
For CHESS sponsored holdings, please call CommSec on 13 15 19 to accept a takeover or buy back. CommSec requires your verbal acceptance after you have being sufficiently identified. Please follow the instructions in the takeover or buy back documentation for issuer sponsored holdings.
Back to top
What is an Off Market Transfer and how do I complete one?
In order to transfer stock directly between owners, an Off-Market Transfer (OMT) must be completed. The OMT must be submitted either to CommSec or the relevant share registry, depending on how the shares are sponsored and how they are to be sponsored on completion of the transfer.
The form can be downloaded and printed from the CommSec website. Simply navigate to 'Tools and Support > Forms & Downloads, then download the 'Off Market Transfer' form from the list of forms.
If the shares are currently sponsored by CommSec or are to be sponsored by CommSec into CHESS, the transfer form should be sent to:
CommSec – Conversions Department
Locked Bag 22
Australia Square
NSW 1215
Transfers to or from a CommSec account incur a CommSec fee of $54 per transfer (i.e. per stock), with the transfer taking place approximately 2-3 business days after receipt of the transfer request.
Alternatively, for cases where the current and new sponsor will be the relevant share registry, the transfer can be submitted to the share registry who will process the transfer for free, however this process generally takes longer.
If the shares are currently sponsored by CommSec, then in order to complete an OMT with the share registry, they must first be converted back to Issuer Sponsorship (by sending a fax or letter to our Scrip department requesting this). Once Issuer Sponsored holding statements have been received from the share registry, the OMT form can be completed and requested directly through the registry. These stocks can be converted back to CHESS sponsorship by submitting a written request with a copy of the Issuer Sponsored holding statement to our Conversions Department, once the transfer has been completed. This process can take in excess of 6 weeks. These steps are not necessary for OMTs processed by CommSec.
Back to top
I’m trying to access the iPhone application using my trading account number but it keeps asking me for my client ID.
The new CommSec iPhone application can only be logged in to using a client ID and not a trading account number.
A client ID differs from a trading account number in that a client ID groups all of your CommSec accounts together under the one log-in.
If you do not have a client ID, one can be created for you and linked to your trading account by calling 13 15 19. Once your client ID has been created you will need to log into the CommSec website to change your new trading password before you can access the CommSec iPhone application.
Back to top
CommSec Dividend Direction Service
What is the CommSec Dividend Direction Service?
Our Dividend Direction Service allows you to have dividends from the securities you hold on your CommSec’s CHESS Sponsorship paid directly to your CommSec Cash Account (CCA) or Commonwealth Direct Investment Account (CDIA), instead of waiting for a cheque in the mail.
Back to top
What are the benefits of the Dividend Direction Service?
With CommSec’s Dividend Direction Service you can:
- Enjoy the convenience of not having to bank a cheque and wait for it to clear.
- Save time, with dividends paid directly into your CommSec Cash Account or CDIA.
- Earn interest as soon as dividends are paid.
- Have cash ready for your next investment opportunity.
- Easily keep track of your dividends.
Back to top
How does the Dividend Direction Service work?
When you elect to have your dividend payments paid directly to your CCA or CDIA we’ll provide your Account Number and BSB to the share registries automatically for your existing holdings and new holdings each time you purchase securities on your CommSec CHESS sponsored Share Trading Account.
Please note: Not all companies or share registeries support electronic payment of dividends or their direction. If you hold shares in one of these companies you may still receive a dividend direction cheque sent to your registered address or payment to your previously nominated account.
Back to top
How do I activate my account for Dividend Direction if I am an existing CommSec client?
If you are an existing CommSec client and have nominated your CCA or CDIA as your trade settlement account, you can activate your account for Dividend Direction^ by:
- Logging into your CommSec Trading Account.
- Select ‘My Portfolio’ from the main navigation and in the ‘Position Summary’, tick ‘Yes’ to “Receive Dividend Payments Electronically into my CommSec Cash Account (CCA) or CDIA.
- Click on the ‘Save’ button.
- You will see ‘pending update’ status, indicating that our systems are being updated. This will take up to 24 hours.
If you are an existing CommSec client and have nominated a non CommSec account as your trade settlement account, you will need to open a CommSec Cash Management Account#; and nominate the CommSec Cash Account as your trade settlement account.
To open a CommSec Cash Management account, simply visit commsec.com.au, click ‘Join Now' and follow the prompts to complete your application. Remember to select the CommSec Cash Account when asked how you would like to settle your trades with CommSec.
# CommSec Cash Management refers to product of Commonwealth Bank of Ausrtalia ABN 48 123 123 124 AFSL 234945 administered by its wholly owned subsidiary Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. As this information has been prepared without taking into account your objectives, financial situation, taxation or needs you should, before acting on this information, consider to appropriateness for your circumstances. Please consider the full terms and conditions for CommSec Cash Management available from www.commsec.com.au before making any decisions. Fees and charges apply.
Back to top
How do I activate my account for the Dividend Direction Service if I am a new CommSec clients?
You can opt in to the Dividend Direct Service while you're completeing the online application. Simply visit commsec.com.au, click 'Join Now' and follow the prompts to complete your application. Remember to elect the CommSec Cash Account when asked how you would like to settle your trades with CommSec.
Back to top
Can I apply for the Dividend Direction Service via a paper application?
No, you can't apply for the Dividend Direction Service via a paper application. You can opt in online when opening a new CommSec Trading Account or in the 'My Portfolio' section of the CommSec website if you are an existing CommSec client.
Back to top
Do I need to do anything when I purchase additional shares?
No. Once you activate your account for the Dividend Direction Service, your bank account details will automatically be sent to the relevant Share Registry each time you purchase securities in a company on your CommSec CHESS sponsored Share Trading Account.^
Back to top
What if I have previously elected to re-invest some dividends?
Opting into the Dividend Direction Service will not affect any existing instructions you have given for dividends payable by certain companies re-invested in that company’s Dividend Re-investment Plan.
Dividend Re-investment plans take priority on Share Registries’ records and to cancel these instructions you need to contact the relevant Share Registries directly.
Back to top
How do I Opt out of the Dividend Direction Service?
If you no longer wish your dividend payments to be made to your CommSec Cash Account or CDIA, you need to:
- Log into your CommSec Trading Account.
- Select ‘My Portfolio’ from the main navigation. In the ‘Position Summary’, next to the ‘Receive Dividend Payments Electronically into my CommSec Cash Account (CCA)” click the “Change” button.
- Select ‘No’ to opt out then click ‘Save’. You will see “pending update” status, indicating that our systems are being updated. This will take up to 24 hours.
- You will need to contact the relevant share registry and nominate a new bank account or arrange a new payment method if you no longer wish to direct credit your dividends from the shares that you hold on your CommSec CHESS sponsored Trading Account.
Back to top
What type of CommSec Accounts are eligible for the Dividend Direction Service?
CommSec CHESS sponsored Share Trading accounts that settle through the CommSec Cash Account or CDIA are eligible for the Dividend Direction Service.The Dividend Direction Service is not available for CommSec accounts that settle through other bank accounts, a CommSec margin loan or any other margin loan.
Back to top
Can I elect to receive cheques for some of my holdings and auto dividend credits for others?
No. If you opt into the Dividend Direction Service it will apply to all your new sponsored holdings with CommSec.^
Back to top
Can I get direct payments to another bank account?
If you would like to have dividend payments directed to a bank account other than your CommSec Cash Account or CDIA, you need to:
- Log into your account and opt out of the Dividend Direction Service.
- Directly contact the share registries with which your shares are held, to provide details of the bank account into which future dividends are to be paid.
Note: If you instruct the share registry before opting out of the Dividend Direction Service, you run the risk of the bank account details you have provided to the relevant registry being overridden by your CCA or CDIA.
Back to top
When I opt into the Dividend Direction Service, are the bank details updated for my existing holdings on my CommSec Trading Account?
Yes, we will send the bank details for all existing holdings on your HIN at the time you opt in.^
Back to top
What if I transfer holdings from another broker?
If you transfer holdings and you have opted into the Dividend Direction Service, once your holdings are transferred onto your CommSec CHESS Sponsored Account we automatically send your CommSec Cash Account or CDIA details to the share registries for these holdings.^
Back to top
Is the Dividend Direction Service available with all securities?
There are a small number of companies who do not support electronic dividends. You will continue to receive dividend payments in the form of a cheque from these companies. Some share registries also do not support electronic dividend notifications. You will be contacted by these share registries to lodge your instructions directly with them.^
Back to top
International Trading
Can I get help with completing my application?
If you need any assistance with completing your form, please do not hesitate to call the International Trading desk on 1300 361 170 (between 8am Monday to close of the US market on Saturday morning AEST).
Back to top
Where do I send my completed application?
Please post your completed application to:
CommSec International desk
REPLY PAID 60768
Australia Square NSW 1214
Back to top
Can I fax my application?
No, we can only accept original posted applications.
Back to top
When will my account be open?
Once we receive a correctly completed application, your account should be open within 3–5 business days.
Back to top
How do I log in to my new Pershing International Trading account?
You can either:
- Login to www.commsec.com.au, then click on Trading > Orders > International Shares, then click on the ‘Pershing International Markets’ link.
- Or you can go directly to the login page at www.netxselect.com
You will then need to take these steps:
- Enter the Financial Organisation Number, “0ac” (number ‘zero’ not letter ‘o’, then letters ‘a’ and ‘c’).
- For ID please type “0ac” again, followed by the 6 numbers that make up the rest of your Pershing account number (do not use dashes), then click on the ‘login’ button.
- The next screen will ask for your password and may show you a security phrase and picture to ensure you are connected to the right server. If the phrase and picture shown are not yours, please do not enter your password but log out of that screen and try again.
Back to top
Why can't I access live prices for UK, Canada, Hong Kong or other non-US stocks on the website?
Our website is only enabled to give live pricing for US market stocks. You can get non-US stock pricing information by calling our desk on
1300 361 170 or from third party providers or public websites, including:
Back to top
How long does settlement take?
Settlement for most markets around the world is the same as in Australia — T+3 (trading day plus 3 days). The Hong Kong market and the Options market in the US are the exceptions, where settlement is T+2 (trading day plus 2 days).
What do I need to place a buy order? You need full funds held in the right currency in your Pershing account before your buy order will be accepted — that is, the total funds required to cover all unsettled executed buy trades and open buy trades on the account. You will need to make a funds transfer request if your Pershing account is short of funds.
Back to top