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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: bluejeans who wrote (7478)	3/22/1998 10:16:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 16892

bluejeans: Yes, the letter only said you don't get interest on the short proceedings, but they haven't said that you will be charged 7% interest if the proceeding is coming from Margin. There is a HUGE difference bet. the two. I asked this question to at least 3 customer representatives, and they could not even give me an answer. However, if the short proceeding comes from your own cash balance, this amount deserves the 4% interest. They often times forget to pay you on this, and sometimes they might mistaken the whole amount of proceeding comes from margin and charge you 7% interest on the whole amount. This happened to me in Feb., and I am still fighting them. After hours on the phone and talked to at least a dozen people in Datek, the problem hasn't been solved yet. I am so frustrated and now I stop to use the margin overnight any more. Good luck.