Monday, May 20, 2013

How To Fund Account in Citiseconline or COL Financial

Stock Market Cash Balance not enough?

Here's how you can fund your Citiseconline or COL Financial Bucket for you to be able to buy more shares on your stocks:

1. Bank transaction

    During the first months, I do bank transaction with Bank of the Philippine Islands (BPI) to fund my account. I choose "Payment" transaction NOT deposit then put my name and my COL Financial account number in the account I should pay for. Of course, amount will be asked.
    They also accept payment transactions for COL Financial accounts in Metrobank and BDO. I haven't tried it yet in Metrobank and BDO but most likely it will be the same with BPI where you do payment transaction and pay to your COL Financial's trading account.
    Lastly, no extra charges for your transactions. :)

2. Online Banking

     Since I've been funding my account regularly, I have to go to the bank twice a month. Good thing we have a very powerful tool called the "Internet" which help me achieve things with just a few clicks.
     As I have mentioned above, I do transaction with BPI so what I can share with you is how you can fund your account through BPI Express Online.
     First, make sure that you register your BPI Account in www.bpiexpressonline.com. Once you can access BPI Express Online with your registered account, go to BPI Bank and ask the teller for a form to add your COL Financial trading account in your online account. Fill out the form. As much as we wanted to add your COL Financial account in the system without going to the bank, this is the fastest way to get your account added. You don't have to fax or call their service hotline. After 24-48 hours, you can see your COL Financial account in the list of accounts you can pay online through BPI.
     I know it's a bit tiring to go to bank and fill out forms but it will be just one time. You'll realize that you are saving time and energy if you are going to fund your account online. Online banking became beneficial for me as I can do my transaction without going out of the office.
     Once you have made your payment transaction, wait for 24 hours max to see your additional fund reflected in your stock market cash balance.
      Again,in Metrobank & BDO, it might be same procedure.

After transacting your deposit to your COL Financial or Citiseconline account, wait for 24 hours before it gets reflected.

TIP: Based from my experience, there are times that my deposit gets reflected within the day ( most likely in the afternoon just within the stock market trading hours). This happens when I do my online banking transaction early in the morning. So if you are trying to add funds in your stock market  account to buy additional stocks within the dat, make sure to make your funding transaction early in the morning - 10am at the latest.


That's all for now.
Happy Investing!

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