Page 1 of 1
NISA upper limit is... incorrect?
Posted: Wed Jan 27, 2021 1:38 pm
by Viralriver
Hi all, apologies for yet another thread.
I skipped January for this year's tsumitate NISA as I was waiting on my Rakuten credit card to come through. This came in time for a February start, so I set up a 33,333 JPY tsumitate on one fund, and turned on 増額 for the additional amount to max out at 400k over the year (i.e. making up for the missed January). Unfortunately, I didn't realise they check your credit card on the 15th to see if it has enough funds even though the purchase would have been a couple of weeks later. My card didn't have the funds (I set a late payment date, but it would have had the funds in time...) so they cancelled my tsumitate. So I'm still sitting here with 0 in my NISA.
Thought I would set it up now to start in March. I was expecting to do 33,333 JPY per month (March onwards) and then a 増額 of 6667 each month (total 40k per month for 10 months). Sounded simple! But no, it limited my 増額 to 3030 JPY per month.
Please take a look at my screenshot - it seems that I have already used 36,363 JPY of my NISA allowance this year. However, I haven't purchased anything. The only investments I have in my NISA account are from the year previous (maxed out, not sold). I can't for the life of me find out where this 36,363 JPY is coming from. I have no tsumitate orders at the moment (I had the one I mentioned which got cancelled, but that's it). Any ideas?
EDIT: Also attaching my order history to show there's nothing else there.
Re: NISA upper limit is... incorrect?
Posted: Wed Jan 27, 2021 2:05 pm
by Kanto
Viralriver wrote: ↑Wed Jan 27, 2021 1:38 pm
Hi all, apologies for yet another thread.
I skipped January for this year's tsumitate NISA as I was waiting on my Rakuten credit card to come through. This came in time for a February start, so I set up a 33,333 JPY tsumitate on one fund, and turned on 増額 for the additional amount to max out at 400k over the year (i.e. making up for the missed January). Unfortunately, I didn't realise they check your credit card on the 15th to see if it has enough funds even though the purchase would have been a couple of weeks later. My card didn't have the funds (I set a late payment date, but it would have had the funds in time...) so they cancelled my tsumitate. So I'm still sitting here with 0 in my NISA.
Thought I would set it up now to start in March. I was expecting to do 33,333 JPY per month (March onwards) and then a 増額 of 6667 each month (total 40k per month for 10 months). Sounded simple! But no, it limited my 増額 to 3030 JPY per month.
Please take a look at my screenshot - it seems that I have already used 36,363 JPY of my NISA allowance this year. However, I haven't purchased anything. The only investments I have in my NISA account are from the year previous (maxed out, not sold). I can't for the life of me find out where this 36,363 JPY is coming from. I have no tsumitate orders at the moment (I had the one I mentioned which got cancelled, but that's it). Any ideas?
EDIT: Also attaching my order history to show there's nothing else there.
Possible issue #1 The cancelled payment is still in the system and will take a while to clear. Tsumitate Nisa moves slower.
Possible issue #2 I believe the limit for Tsumitate payment with a Rakuten card is 5万 a month.
Possible outside issue #3. A payment made in the last 10ish days of December will count for the next year's Tsumitate.
Re: NISA upper limit is... incorrect?
Posted: Wed Jan 27, 2021 2:28 pm
by Viralriver
Hoping it's issue #1 - although it got cancelled about 10 days ago.
Issue #2 I doubt, as I also tried to do it through my securities account and not credit card just as a sanity check.
Issue #3 is very doubtful, as my initial order allowed for 400k to be set (and then cancelled because of lack of funds). Plus my December order was my only order last year. I set the whole amount as a bonus essentially.
Thanks for the reply, fingers crossed it is #1!
Re: NISA upper limit is... incorrect?
Posted: Thu Jan 28, 2021 3:05 am
by Kanto
Viralriver wrote: ↑Wed Jan 27, 2021 2:28 pm
Hoping it's issue #1 - although it got cancelled about 10 days ago.
Issue #2 I doubt, as I also tried to do it through my securities account and not credit card just as a sanity check.
Issue #3 is very doubtful, as my initial order allowed for 400k to be set (and then cancelled because of lack of funds). Plus my December order was my only order last year. I set the whole amount as a bonus essentially.
Thanks for the reply, fingers crossed it is #1!
On #2 the limit has nothing to do with the credit space on your Rakuten credit card, it is a hard limit with Rakuten securities.
Why? Otherwise, people would get too many Rakuten points"
You can only purchase 5 man worth of securities at any time with a Rakuten card.
Re: NISA upper limit is... incorrect?
Posted: Thu Jan 28, 2021 7:44 am
by Viralriver
Ahh, I meant I tried to do it through my standard balance and not the credit card (so no point accumulation) to see if there was some internal limit (and there was).
So I just called them up, and after they did some checks they realised there's an error on my account. Essentially I placed a tsumitate order with my card which wouldn't activate until Feb. 1st, but they checked my balance on the 15th of Jan, realised there wasn't enough (2 weeks before the execution date!!) and cancelled the order, but the 増額 portion over all 11 months was seen as executed on even though it wasn't. They have no idea why, but they told me that come Feb. 1st the system will revert itself hopefully and I will be able to set a new 400k NISA for this year.
Apart from the 30 min wait on the phone to speak to them, they were incredibly helpful and didn't ask any stupid questions/ bureaucratic nonsense so I'm happy with that! Hopefully it really does revert itself. But yay I managed to break their system.
EDIT: In case anyone else comes across this in the future. On Feb 1st I got an error on my account saying my payment couldn't go through (even though I had no payment setup - this must have been the problem internally). Either way, the ghost payment got cancelled, and my account is back to normal, able to put in 400k tsumitate
.