Automation of monthly funding my Monex account

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JapaneseMike
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Automation of monthly funding my Monex account

Post by JapaneseMike »

I've been using monex for a few months now and i'm really liking both the products and the interface.

Up until June I was using online funding system via monex to transfer funds from my yuucho account and it's amazing. Literally funds transferred and available within minutes, even at night or on weekends. Wow.

From July i've setup an auto payment from yuucho instead. Money comes from my yuucho on the 25th but doesn't appear in Monex account until around the 8th of the following month.

My goal is to 'forget` my monthly contributions, with both monex transfers and subsequent fund purchases automated (so i'll only check it once or twice a year for rebalancing).

It seems i have to choose between having manual effort every month, adding risk and choice, or i lose a few weeks where my money sits in limbo between banking system and shouken gaisha

Is my situation similar to others?
Yokohama
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Re: Automation of monthly funding my Monex account

Post by Yokohama »

It is the same situation for me on SBI. I automated money transfers and buying funds. The delay sucks (about 16 days for me between transfer and being able to buy funds), but I still went with that valuing the automation and avoiding any temptations of not following my plan and starting to chase yesterday's winners.
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RetireJapan
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Re: Automation of monthly funding my Monex account

Post by RetireJapan »

I just set up Monex to do automatic purchases (using the 銀行de) functionality, so I guess I will see how that turns out. I didn't mind doing it manually, but with money it tends to be better to automate...
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JapaneseMike
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Re: Automation of monthly funding my Monex account

Post by JapaneseMike »

Thanks both, good information appreciated.

I saw the 銀行で option and was worried there might be a 手数料, let me know how it goes.
anroy
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Re: Automation of monthly funding my Monex account

Post by anroy »

RetireJapan wrote: Fri Aug 24, 2018 11:17 am I just set up Monex to do automatic purchases (using the 銀行de) functionality, so I guess I will see how that turns out. I didn't mind doing it manually, but with money it tends to be better to automate...
What does the "銀行de" functionality specifically do?
Is it the ability to automate the purchase of, say, 10 shares of stock A, 1 share of B, 5 shares of C every month?

I've been using Monex for a couple of years and still struggle with it.
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RetireJapan
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Re: Automation of monthly funding my Monex account

Post by RetireJapan »

I've been using it to buy mutual funds (tsumitate) and you just specify the amount of money. On the specified date they take it out of your account and buy the funds.

Out of sight, out of mind. I like it a lot.
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