2023 T-NISA not working properly?

[Gareth]

Hi all

I use Monex for my T-NISA. In 2022, they took 33,333 from my bank each month on the 27th and that bought some eMaxi Slims. At the end of 2022, I was under the impression that I didn't need to do anything and that in 2023, everything would carry on the same.

However, the money taken out on December 27th hasn't bought anything and is sitting there as cash. That has now been joined by 33,333 from the January 27th payment. So I now have 66,666 sitting there in cash. I understand that it take a while for things to go through, so the January 27th payment certainly wouldn't show up yet as having bought something, but I would have expected the December 27th payment to have bought something by now. Is there an even longer delay when payments are made at the end of one year to buy something in the next year, or have I done something wrong?

[Gareth]

Well, like everything in life, I just needed a bit of patience. It’s working fine now. Panic over!

[RetireJapan]

Well, like everything in life, I just needed a bit of patience. It’s working fine now. Panic over!

Good to hear. I haven't run into anything like that with Rakuten, might just be different timings.

[Billy]

Glad to hear things fixed themselves. Does it show the fund being bought in December and January at different prices, or is it one bulk purchase?

[Gareth]

Only one set of 33333 seems to have bought something so far. I think. It’s confusing.

I don’t quite understand the timings at all. I don’t feel the way it’s displayed on Monex is particularly easy to grasp. But I used up all my T-NISA allowance last year and this year’s has already started to be used now so am just going to leave it now and let it do its thing.

[zeroshiki]

Paradoxically (because of their bad reputation) I think Rakuten has by far the best site out of the 3 low cost brokers. I try to navigate SBI and Monex and just get confused all the time. Rakuten has big colorful buttons and its very easy to find and understand mutual funds and NISA on there.