Saxo - Understanding value date to avoid negative interest

[ducatona]

I just opened a Saxo account and I'm confused about when I can use my money - trying to avoid negative interest.
I read some of the documents provided by Saxo and talked to a bot and an agent, but both the bot and agent just kept pointing me at the documents I had already read (and not understood).
The issue seems to be that even tough I transfer funds to my Saxo account and I can see them there, I can only use them (without incurring negative interest) after the 'value date'. I don't know where to check for this value date.
It gets a bit more complicated (or maybe I'm doing something wrong) when funding your account with CHF but wanting to buy an ETF in USD - my understanding is that I have to convert CHF to USD once my funds are available to me AND, even though I see the USD straight after I requested the transfer, they are also not available to me until after another 'value date' (and again, I don't know when this is).
Is somebody here using Saxo for investing and has a good grasp of when your own funds can be used without incurring negative interests?
I'm confused at the moment and not getting much help from Saxo.
Thanks a lot

 

[Baptiste Wicht]

Hi

This value date has to do with settlement of operations. It's indeed a complicated system.

However, I do not think this applies to deposits at Saxo Switzerland. I have just looked at my transactions and I have always invested the money on the same day as the deposit and I never got any negative interest rate.

If you only deposit cash and buy stocks, I do not think you have to worry about that.

 

[ducatona]

Thanks Baptiste - Just one more question: did you invest directly in CHF or did you do some currency conversion in-between?

 

[Baptiste Wicht]

Both. I tried doing both VT and CHSPI on the same day as deposit and did not see any charge.

 

[ducatona]

Thanks for the feedback - I will do some tests!