RetireJapan

Yokohama wrote: ↑Sun Feb 17, 2019 2:42 am I'm using this service to have money automatically transferred from my bank account to my SBI hybrid account directly each month.

Thanks for the link- knew there must be a way.

Yokohama wrote: ↑Sun Feb 17, 2019 2:42 amThe disadvantage of using that service is that it takes about 2 weeks before the money taken out of your bank account appears in SBI. In my case, every month on the 27th money is taken out of my account by that service, and it appears in my SBI account around the 14~15th next month.

That is kind of annoying. I used to furikomi to them and don't think it took that long. Wonder why the direct debit takes longer? Sounds like Petronius' method of furikomi to SBI bank and then manual furikae to the hybrid account is faster. If it is fully automated I guess that's fine, but I'm still doing the investments manually, so I'd be too impatient and end up doing the transfer manually too.

RetireJapan wrote: ↑Sun Feb 17, 2019 3:20 am Given how competitive the online brokers are, I would be surprised if SBI doesn't start an automatic bank withdrawal to match Monex and Rakuten at some point.

As per the above link - they already do!

adamu wrote: ↑Sun Feb 17, 2019 4:56 am As per the above link - they already do!

They don't really though. Monex and Rakuten allow you to set up tsumitate fund purchases and take the money directly from a bank account. SBI has this work around, but it seems to involve a few more steps.

Thank you for the link, this will do it! Exactly what I needed!
I suppose that the working capital they generate with the 15 days lag is why they offer the service for free.

I think it's probably more like they have some sort of internal accounting process where somebody manually checks all the transfers, thus taking two weeks.