What is Instant Settlement?
Instant Settlement lets you access your sell proceeds immediately after your securities sell order executes, instead of waiting for the standard T+1 settlement window for US shares or T+2 for Aussie shares. You opt in at the time of placing your sell order, and if approved, the funds (less the Instant Settlement Fee) are credited to your Superhero Account straight away.
You don’t need to use Instant Settlement if you are trading in the same market (ASX → ASX or US → US). Funds are available to reinvest immediately after execution for these trades.
However, if you’re switching markets (ASX → US or US → ASX), or need to withdraw the funds straight away, you can now choose Instant Settlement.
How do I request Instant Settlement?
When placing a securities sell order via the Superhero platform, you'll see the option to request Instant Settlement. Select it before confirming your order. Once your order executes, we'll review and process your request. If approved, proceeds are credited to your account immediately.
And remember, you don’t need to use Instant Settlement if you are trading in the same market (ASX → ASX or US → US). Funds are available to reinvest immediately after execution for these trades.
However, if you’re switching markets (ASX → US or US → ASX), or need to withdraw the funds straight away, you can now choose Instant Settlement.
Is there a fee for using Instant Settlement?
Yes, an Instant Settlement Fee applies. This is deducted from your proceeds before they are credited to your Superhero Account. The exact fee is set out in the Superhero Fee Schedule and will always be clearly shown to you before you confirm your request.
The fee only applies if you choose Instant Settlement. Standard settlement remains available at no extra cost.
And remember, you don’t need to use Instant Settlement if you are trading in the same market (ASX → ASX or US → US). Funds are available to reinvest immediately after execution for these trades.
However, if you’re switching markets (ASX → US or US → ASX), or need to withdraw the funds straight away, you can now choose Instant Settlement.
What amount will be credited to my account?
You'll receive the proceeds of your securities sell order minus any standard brokerage fees and the Instant Settlement Fee. The exact amount will be shown to you before you confirm the request, so you always know what you'll receive upfront.
Is Instant Settlement guaranteed?
Instant Settlement is subject to eligibility and Superhero's approval. We may decline requests where you don't meet our eligibility criteria, or for operational, regulatory or commercial reasons.
If we're unable to fulfil an approved request, we'll notify you promptly and your securities sell order will follow the standard settlement process.
Not all users or all securities sell orders will be eligible. Eligibility may change over time.
What happens if my Instant Settlement request is declined?
If your request is declined, either upfront or after initial acceptance your securities sell order will simply follow the standard settlement process. You will not be charged the Instant Settlement Fee if your request is declined. We'll notify you as soon as reasonably practicable if an accepted request cannot be fulfilled.
What happens to my shares after I use Instant Settlement?
When you use Instant Settlement, you are assigning your right to receive the sale proceeds to Superhero. In exchange, we credit the funds, less the Instant Settlement Fee to you immediately. On the standard settlement date, the shares are debited from your Superhero Account in the normal way. There is no impact on how or when your shares are sold on market.
Can I use the funds straight away after they're credited?
Yes. Once the proceeds are credited to your Superhero Account, they are available for use immediately.
You don’t need to use Instant Settlement if you are trading in the same market (ASX → ASX or US → US). Funds are available to reinvest immediately after execution for these trades.
However, if you’re switching markets (ASX → US or US → ASX), or need to withdraw the funds straight away, you can now choose Instant Settlement.
Do I have to use Instant Settlement every time I sell?
No. Instant Settlement is fully opt-in and you choose at the time of each securities sell order whether to use it. If you don't opt in, your securities sell order follows the standard settlement process at no additional cost. There is no standing instruction or automatic enrolment.
And remember, you don’t need to use Instant Settlement if you are trading in the same market (ASX → ASX or US → US). Funds are available to reinvest immediately after execution for these trades.
However, if you’re switching markets (ASX → US or US → ASX), or need to withdraw the funds straight away, you can now choose Instant Settlement.
Is Instant Settlement available for all securities on the platform?
Instant Settlement may not be available for all securities sell orders or all securities. Eligibility will be shown to you at the time of your sell order. Superhero may update the scope of eligible securities over time.
Check the Superhero app at the time you place a trade for the most current eligibility information.
And remember, you don’t need to use Instant Settlement if you are trading in the same market (ASX → ASX or US → US). Funds are available to reinvest immediately after execution for these trades.
However, if you’re switching markets (ASX → US or US → ASX), or need to withdraw the funds straight away, you can now choose Instant Settlement.
Can I use Instant Settlement after I’ve sold my securities?
Instant Settlement is only available at the time of sale.
If you choose to not use this feature, we cannot expedite the settlement after your order has been placed.