Steps for banks to buy and sell funds
first step
Deal with transaction cards
During trading hours (Monday to Friday, 9: 30- 15: 00), bring your ID card to the counter to handle the trading passbook and fund trading card (different banks have different requirements, CCB must require a special securities trading card, and ICBC and ABC universal bank cards are enough).
Second step
Open a fund account
Investors buying and selling open-end funds must first open a fund trading account and a TA account. To buy funds from several fund companies, you have to open several fund accounts accordingly, one for each fund company; One ID number can only open one fund account in one fund company (except those registered in China).
Third step
Purchase fund
The process of investors buying fund shares during the raising period of open-end funds and before the establishment of funds is called subscription. Usually, the subscription price is the face value of the fund unit (1 yuan) plus certain sales expenses. To subscribe for a fund, an investor shall fill in the subscription application form at the fund sales point, pay the subscription fee, go through the relevant formalities at the registration authority and confirm the subscription.
After the establishment of the fund, the process of investors applying to the fund management company to purchase fund shares through the sales organization is called subscription.
When investors buy funds, they usually fill in the application form and pay the subscription money. Once the amount is paid, the subscription application is valid. Note: the subscription fund adopts the principle of unknown price, that is, the transaction price is the net value of the fund after the close of the day.
The minimum amount of initial subscription/subscription is generally 1 1,000-5,000 yuan, which varies from company to company, and the subsequent subscription is generally more than 1 1,000 yuan.
Fourth step
Confirm the transaction
After 2-3 working days, you can check the transaction confirmation at the online bank or the counter. If there are no accidents (computer failure, non-trading days, operational errors), you can close your position.
Step five
Sell fund
Contrary to buying a fund, investors sell their fund units to fund managers at a certain price to recover cash. This process is called redemption. The redemption amount is calculated on the basis of the net asset value of the fund unit on that day.
Investors should generally fill in the redemption application form at the fund sales point when redeeming funds. Generally, the transaction can be confirmed within 3 working days from the date of the fund investor's redemption application, and the redemption money is generally received within 7 working days from the date of the fund investor's effective redemption application.