Users' questions 

What is a CDIA account with CBA?

Leia Doyle

What is a CDIA account with CBA?

What is a Commonwealth Direct Investment Account (CDIA)? The Commonwealth Direct Investment Account (CDIA) is a cash management account specifically designed for CommSec share traders. It allows you to trade, save and transact when and where it suits you.

Do you need a Commonwealth Bank account to use CommSec?

You don’t need to be a banking customer of the Commonwealth Bank to open a CommSec Share Trading Account, but it does allow you to easily view and move between banking and trading accounts with a single login.

How do I link my CDIA account?

How to transfer funds from another financial institution:

  1. Log in to your NetBank account and select View accounts in the main menu.
  2. Click on Account information and use the dropdown menu to select your CDIA account.
  3. Here you’ll see your CDIA BSB and account number – make a note of these.

Is a CDIA account free?

There’s no monthly fee for CDIA accounts linked to the CommSec Share Trading Account and there are unlimited fee-free electronic withdrawals.

Can you use CommSec pocket without a Commonwealth Bank account?

Sign up using your CommSec ID or CBA NetBank Client number. If you don’t have a CBA account then you’ll need to open one. Review the details of your account and deposit money from your chosen transaction account. Choose an ETF to invest in.

How do I put money on my CDIA account?

How do I transfer funds into my CDIA?

  1. Login to NetBank.
  2. Go to the Transfers tab then select Transfer money.
  3. In the From account drop-down menu, select the account with the funds you wish to transfer.
  4. In the To account drop-down menu, select your CDIA.

Is IG better than CommSec?

If low brokerage is the most important factor in deciding on an alternative to CommSec, then IG may be for you. Along with low fees, it also offers a reliable online mobile share trading platform with a wide range of markets to choose from.

Is CommSec pocket good for beginners?

Final verdict. CommSec Pocket was simple and fairly enjoyable to use. It offers new investors an easy way to start saving and getting involved in the share market. However, it pays to work out how often you plan to invest per year, what your fees will be and how much that will impact your investments.

Can you day trade on CommSec?

CommSec is a top broker in Australia and offers a range of assets for day trading including shares, options, ETFs, and warrants.

Is CommSec or CommSec Pocket better?

The difference between Commsec Pocket and Commsec is that Pocket allows you to buy a single unit of shares that are less than $500 in value whereas in Commsec the investing value should be a minimum of $500.

Can I make money from CommSec Pocket?

CommSec Pocket charges $2 per trade for investments less than $1,000 or 0.2% of the trade value for amounts above $1,000. If you were to invest the minimum amount of $50 per trade, you’re being charged 4% on a trade, which can seriously cut into any gains you’re looking to make. There is also a late settlement fee.

Is day trading illegal in Australia?

Yes, day trading is legal in Australia. Although it is still important to make sure you are trading with a trusted and regulated provider. For example, IG is authorised and regulated by the Australian Securities and Investments Commission (ASIC).

How do I day trade for living in Australia?

If you want to start day trading in Australia, you should:

  1. Research which markets you can day trade in Australia.
  2. Decide on a day trading strategy.
  3. Practise using your strategy with an IG demo account.
  4. Open an account to day trade on live markets.

A cash management account for investors allowing you to trade and transact when and where it suits you.

Do you need a commbank account to use CommSec?

Launching in 1995, CommSec is one of Australia’s oldest share trading platforms for the retail market. You don’t need to be a banking customer of the Commonwealth Bank to open a CommSec Share Trading Account, but it does allow you to easily view and move between banking and trading accounts with a single login.

How do I link CDIA to NetBank?

How do I transfer funds from my CDIA to another account?

  1. Login to NetBank.
  2. Go to the ‘Transfers’ tab then select ‘Transfer money’.
  3. In the ‘From’ account drop-down menu, select your CDIA.
  4. Under the ‘To’ account, use the drop-down menu to select an account which is already in your NetBank address book.

A CDIA is free to use. There are no monthly fees for CDIA accounts that have been linked to your CommSec account. There are also unlimited no fee electronic withdrawals.

Can I have 2 CommSec accounts?

Yes, you can have multiple Commonwealth Direct Investment Accounts (CDIA) under your CommSec profile.

Can I have 2 NetBank accounts?

For joint accounts: You can open this account with one other person if you already have a joint account together with us. To open up a joint account for the first time or with someone new please visit your nearest branch together.

Do I need a CDIA account?

The Commonwealth Direct Investment Account (CDIA) is much like any other transaction account except that it’s designed to let you trade CommSec shares. In order to settle trades via an online share trading platform, you’re required to have a linked cash management account.

How to buy shares in CBA CDIA account?

If you do not have sufficient funds in the account that CommSec will debit for your share purchases, you better get the money in there before settlement date (T+3). To find out your settlement account details, log into CommSec using your login number (not shares account number) and password.

When was CCA and CIA replaced by CdiA?

OP has the Commonwealth Direct Investment Account (CDIA), not the CommSec Cash Account (CCA) and CommSec Investment Account (CIA). Effective 26 January 2013, CCA and CIA will be obsolete and replaced by CDIA. All new CommSec accounts since mid December 2012 use CDIA whilst existing accounts are going through the transition period now.

How to open a CdiA in CommSec share trading account?

Open a CommSec Share Trading Account and a CDIA together to settle your trades directly and enjoy discounted brokerage. Already have a CommSec Share Trading Account? Open a CDIA in CommSec. Login to CommSec below and follow the prompts to add a CDIA to your list of accounts.

Is there a monthly fee for a CdiA account?

There’s no monthly fee for CDIA accounts linked to the CommSec Share Trading Account and there are unlimited fee-free electronic withdrawals. This means that you have complete access to the cash in your trading account at all times – something that isn’t always possible with brokers that use external bank accounts.