Under certain circumstances your account statement may show a negative interest figure. In most cases this is related to the fact that banks use a technique for calculating interest based on "value dates".
Each entry on a bank statement carries at least two dates:
• the accounting date - corresponding to the date on which a transaction is carried out, and
• the value date - which corresponds to the date as of which interest is either credited or debited to the account.
With respect to the buying or selling of securities, the gap between the accounting date and the value date can vary between 2 to 3 days and in effect represents the time necessary for the completion of the transaction(s) on the market(s).
In fact there is a delay between the moment a security is bought (or sold) on a market and the moment it is actually booked by the bank which has conducted the transaction.
Thus, a security bought or sold today - with an accounting date of today's date - is not actually booked into (or out of) the respective accounts until a later value date (+2 or +3 days).
In the case of a sale of securities, Swissquote Bank allows you immediate access to the proceeds of that sale - either for reinvestment or for payment transactions. It has to be borne in mind, however, that using funds in this way before the actual value date may result in an account being in the red for one or more days, without this being visible for the client.