DEBIT INTEREST
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Example
The following example illustrates the issue:
On December 10, 2007 the balance of your accounts stands at zero.
You sell 1000 XYZ at CHF 70.00 on December 10, 2007, generating proceeds of CHF 70,000.
The accounting date is December 10, 2007.
The value date will be December 13, 2007.
The same day, i.e. December 10, you decide to use the proceeds of the sale for an urgent payment with a value date of the following day (December 11, 2007).
Given that the value date of the sale will be two days later, your account will show a debit balance of CHF 70,000 for two days. This negative position will generate debit interest.
Conclusion
Interest charges may also apply in other situations such as, notably, temporary negative cash positions. Such situations may occur if you have consciously decided to manage your forex reconciliation yourself and have configured your profile accordingly (My profile ‑ My account options). In this case, we recommend that you check the configuration of your profile.