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Non-Tech : Web Street Securities (WEBS)
WEBS 20.05-3.3%Nov 28 4:00 PM EST
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To: Linda Kaplan who wrote (468)7/21/1998 5:58:00 PM
From: Doug Coughlan  Read Replies (1) of 1339
 
I spoke with one of their reps today concerning a problem I was having with the posting of interest too my account. He stated that he was seeing the correct balance in my account. On the other hand I was still seeing my original balance. I was seeing the credit to my account under transaction history, but was surprised to see my account balance drop by $188 on Monday morning. The net result is that not only am I not seeing the interest posted to my original balance but it dropped by $188.
I mentioned to him that customers on this thread have experienced similar accounting problems. He stated that there is a computer problem that they are working to rectify. His computer connects directly to US Clearing in NYC and has the correct information. I neglected to ask where the customer is receiving the information on their screen from. He also mentioned that Web Street follows the postings on this thread. To be fair to Web Street and people who read this thread, I have basically had pretty fast fills. Out of eleven trades only once when all firms that deal with US Clearing had a problem was I really burned. Of the other ten trades I have received a price back anywhere between five to ten seconds and five minutes. The five minute confirmation was during fast market conditions. Most of the confirmations are back in under a minute. I would also like to receive the fills back faster since I tend to day trade or more accurately five to ten minute trade.
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