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Unsettled Debit

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Hi all.

I have an amount in my unsettled debit, on the overview tab. What is this and how is it calculated? 

Thanks. 

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Guest Jbutleruk

No. 

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I've it too, it's very unusual. What could we 'owe'. It's a massive amount. Can anyone shed light on this? @CharlotteIG

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On 02/04/2020 at 16:29, jbutleruk said:

Hi all.

I have an amount in my unsettled debit, on the overview tab. What is this and how is it calculated? 

Thanks. 

 

On 06/04/2020 at 14:48, applicant679339 said:

I have the same question.  Did you get any answers Jbutleruk?

 

On 06/04/2020 at 14:52, Guest Jbutleruk said:

No. 

 

On 20/04/2020 at 15:31, hawksworthy said:

I've got this also - same question from me!  Grateful for some help. 

 

On 05/05/2020 at 15:15, HeadBeeGuy said:

I've it too, it's very unusual. What could we 'owe'. It's a massive amount. Can anyone shed light on this? @CharlotteIG

Hey everyone, 

If this is on a non-leveraged account (Share dealing or ISA) an unsettled debit are the funds we require when you buy shares. Say you bought £10,000 worth of shares. These funds are made unavailable on your account however 2-3 working days later the funds settle which means we send your funds to the person you bought the shares from. 

This is the underlying settlement period which we have no control over. 

When you sell the shares you will see an unsettled credit. 2-3 working days later the funds will settle and you can withdraw them if you wish. 

I hope this helps. 

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So, it's much like a pending amount. Thanks for the clarification, very helpful!

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Can you trade with this amount in the time it takes to settle? If you only had a small amount in the trading account then this would mean 2-3 days no trading???

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On 30/07/2020 at 14:47, penguintrader said:

Can you trade with this amount in the time it takes to settle? If you only had a small amount in the trading account then this would mean 2-3 days no trading???

If you have bought something and it's an unsettled debit you will not be able to trade with this. The reason for this is it's an unsettled amount for shares you have already bought. 

If you sell stock and have an unsettled credit you can trade with these funds. If you sell shares and want to withdraw the funds you have to wait 2-3 working days before you can withdraw, 

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