cash withdrawable
currently, many mooers park our idle money (ammo) in cash plus to earn 3-4% interests, while waiting for better opportunities to deploy them in the stock market.. and the smartsave feature works well to auto-redeem the units to pay for any stock purchases the next morning to cover for any account deficits..
normally when a mooer buys a stock on day 1, and the cash plus gets redeemed on day 2 morning, you would expect that the account will be "settled" in due time with no more deficits.
however, this is apparently NOT the case here.
if the mooer were to receive some dividends on day 2 (after the units were redeemed) or if he were to make a cash deposit into the account because he just receives his monthly salary, the cash he puts in the account will become "earmarked" AGAIN (i.e. it falls under cash but not cash withdrawable), so his fresh funds are now stuck and the cash cannot be used (= double deduction!).
this doesnt make sense as cash plus units were already redeemed resulting in lost interests for the day and the cash you deposited also does not get any interests so you end up in a double disadvantage...
my christmas wish is therefore for moomoo to review this "redemption<>cash balance" setup and not penalise the mooer of the opportunity to invest the fresh funds he deposited into his account.
feel free to contact me if this post is not clear, thank you for your consideration!![]()
however, this is apparently NOT the case here.
if the mooer were to receive some dividends on day 2 (after the units were redeemed) or if he were to make a cash deposit into the account because he just receives his monthly salary, the cash he puts in the account will become "earmarked" AGAIN (i.e. it falls under cash but not cash withdrawable), so his fresh funds are now stuck and the cash cannot be used (= double deduction!).
this doesnt make sense as cash plus units were already redeemed resulting in lost interests for the day and the cash you deposited also does not get any interests so you end up in a double disadvantage...
my christmas wish is therefore for moomoo to review this "redemption<>cash balance" setup and not penalise the mooer of the opportunity to invest the fresh funds he deposited into his account.
feel free to contact me if this post is not clear, thank you for your consideration!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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ZnWC : @Milk The Cowis also facing similar problem
Milk The Cow : This the another issue I'd mentioned under one of my post comment section.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
)but then I realised this issue thank to other users ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
.
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
).
, what's this, 1st come 1st served ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
= no no no 
, we don't do it like this here ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
as we may lose a possible extra interest from the MMF when the auto redeem finally returned (become withdrawable cash but some are considered as new idling cash now).
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
) = fresh deposit cash being used to pay for the deficits 1st...![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
.
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
:![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
x Non-withdrawable ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
× subscribe fund instantly x 1st come 1st served withdrawable![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
used to pay for any deficit 1st in the universal account are the issues here.
GTC issue is fixed (good job
Did not elaborate on this issue as it's quite minor to me for now & yet a very complicated issue (don't know how to explain it clearly...
To put it simple, the auto redeemed cash from MMF is yet to return (become withdrawable) to pay for the deficits for an executed transaction due to T+1 or T+2 redeem delay.
However, the universal account will use up for which ever cash (withdrawable cash avaliable) come to the account 1st for any deficits in the universal account= wth
Also, u may also face a currency urgent exchange issue when u need other currency urgently (buy the market crash dip
This minor issue may lead to quite a lot problems if u never time the period properly, especially for active traders
Long story short
Withdrawable
hanabi3 Milk The Cow : I had to deposit even more cash so that I can do currency exchange after a portion of my fresh funds got locked away for a transaction I made 1 day ago. Smartsave is frustrating![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
toomanyscammers hanabi3 : ohmans . if we pause it will it work
Shuseido hanabi3 : That's the reason I give up smart save..![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Big issue for me when the opportunity (lower usd rate) presents but I cannot do any exchange without topping up fresh funds.
The work around is to indicate reserve funds but again this is idle funds again..
hanabi3 Shuseido : What if I indicate reserve funds then do a deposit after a trade? Will my fresh funds still be locked up? Maybe I should test this out![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
hanabi3 toomanyscammers : It will only pause auto subscription to Cash Plus, but it won't pause auto redemption. The issue arise when the funds that are automatically redeemed still need time to become available, then if you deposit fresh funds in the meantime, it will get locked, ie you'll get double charged for the same transaction for that period of time![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
toomanyscammers hanabi3 : ooo double charged as in, two funds used to buy the stock or just that two funds frozen?
hanabi3 toomanyscammers : For eg, if you bought stocks for $10k,![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
so you end up having 2 sets of funds frozen for the same transaction
1) $10k will be redeemed from Cash Plus/ MMF that's still processing (you will lose the interest for that amount)
2) If you deposit say $15k fresh funds before your redeemed amount arrives, $10k would be locked up, so you'll only have $5k to use for currency exchange
Eventually when the funds arrive, your $10k will be released, but then you might miss some opportunities due to this
Shuseido hanabi3 : anything more than the reserved funds will be auto invested.
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