Redhill wrote:I used to think brokers being late in crediting cash was due to them deliberately delaying for their own financial benefit of being able to use the cash themselves in the interim but I'm now more inclined to think it's simply inefficiency.
I hold Vanguard ETFs with AJ Bell, Halifax and Hargreaves Lansdowne they all credit at different times and treat different sorts of the same products differently. ETFs reporting in foreign currencies are paid on different days in HL and always a few days post settlement date. AJ Bell is usually there in the morning on settlement day when I check. Halifax somewhere in the meddle.
So different providers, different systems, different efficiencies. Nether guile nor incompetence just the way it is. And they do all settle - though specifically with IPF and these corporate actions and payments do appear to be less snappy with HL than other providers.