1. C/U Bank sign in Cyprus capital, Nicosia
2. W/S Bank customer approaching ATM cash machine
3. M/S Bank customer withdrawing money from the ATM
4. SOT Bank customer, Hasan Abul: "I definitely am angry because they didn't give us any notification, what will happen with the rest of the amount?"
5. W/S Facade of the Laiki Bank
6. M/S ATm at the Laiki Bank
7. M/S Bank customer withdrawing money from the account
8. M/S ATM machine
9. C/U Broken exchange rate board
Cyprus: Cypriots empty ATM machines after proposed tax levy
As banks remain closed in Cyprus due to the national holiday, inhabitants of Nicosia rush to ATMS to withdraw their money after hearing about a European Union bailout on Saturday, 16 March. The Cypriot government was to decide later today, March 17, whether to seize up to 10% of deposits held in national banks however the debate and vote has been postponed until tomorrow.
The 10 billion EU bailout deal was agreed between the newly elected government of Cyprus and the so-called Troika, consisting of the European Commission, the European Central Bank and the International Monetary Fund. The deal proposes that people with less than 100,000 EU in their accounts will pay a 6.75% tax. Those who earn more than the 100,000 EU threshold, will have to pay 9.9%. Cyprus will be the first country in the eurozone to finance their bailout by putting a tax levy on people's savings.
Hasan Abul, inhabitant of Nicosia, expressed his feelings by stating: "I definitely am angry because they didn't give us any notification, what will happen with the rest of the amount?"
Cyprus President Nicos Anastasiades gave a televised address on Sunday night by explaining that the levy on bank deposits was a necessary measure to prevent the country from exiting the euro zone, which would result in total bankruptcy for Cyprus.
Brokerage fee amount by transaction value 1.
Trade online and settle your trade to a CDIA or CommSec Margin Loan 2.
Trade online and settle into a bank account of your choice.
Share Trades over the Phone 3.
CommSec Share Packs online 4.
CommSec Share Packs over the phone 4.
Trades requiring settlement through a third party 6.
1 For GST rounding reasons, the final brokerage fee may vary from the stated or expected brokerage fee by a couple of cents.
4 Normal brokerage will apply when a stock acquired through CommSec Share Packs is subsequently sold.
5 Amount per share will be noted as brokerage on each confirmation issued. There will be no substitution should a stock have a trading halt placed on it.
6 Includes third party Margin Lending, and where the Commonwealth Bank exercises its rights under the loan Terms and Conditions.
Other fees may apply. Please see the CommSec Financial Services Guide.
Open a CommSec Share Trading Account.
Buy and sell shares using a CommSec Share Trading Account with our cash account - with it you can seamlessly settle trades, transact and earn interest.
Buy and sell shares using a CommSec Share Trading Account with your existing bank account.
Frequently asked questions.
Shares held with another broker.
For the transfer to be successful the name and address registered on your issuer holdings must match your CommSec account.
Your request will be completed within 72 hours.
Shares held with the share registry To transfer shares held with the share registry into your CommSec Trading Account you need to complete an Issuer Sponsored Holdings to CHESS Sponsorship Transfer Form.
Your request will be completed within approximately 48 to 72 hours of receipt.
When you have bought and sold shares on the same day and the next trading day, your payment may be partially or wholly offset. For more information refer to the New Client Guide.