Blue Chip Investment Plan (BCIP) by OCBC

htngwilliam

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8.8 Fractional Amounts
OCBC reserves the right to accumulate and retain, for its own benefit, any and all fractional amounts of the aggregated Gross Investment Amounts collected from Customers each calendar month.

It indicates fractional amount left will be accumulated or retained for their own benefits but fractional amount mean 0.xxxx? Assuming if you are left with $4.55, does it means they can keep $0.55? or they keep the whole $4.55? Both very different
 

makav31i

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8.8 Fractional Amounts
OCBC reserves the right to accumulate and retain, for its own benefit, any and all fractional amounts of the aggregated Gross Investment Amounts collected from Customers each calendar month.

It indicates fractional amount left will be accumulated or retained for their own benefits but fractional amount mean 0.xxxx? Assuming if you are left with $4.55, does it means they can keep $0.55? or they keep the whole $4.55? Both very different

This is what their staff just posted:

Hi nanotard, the quantity of shares allocated will be rounded to the nearest whole number. In this example above, the actual number of shares will be 32 shares because it is rounded up from 31.67 shares.


^Richelle
For OCBC Bank

Anyone want to ask OCBC question can do so over at their thread...
http://forums.hardwarezone.com.sg/money-mind-210/hello-team-ocbc-4379022.html
 
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Vincent_G

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I just realize their $5 charge (which is currently waived) is "PER COUNTER"!

I have invested in POEMS ShareBuilder Plan, and their charge is either $6.42 (for max 2 counters or up to $1,000) or $10.70 (more than 2 counters or $1,000). I have bought small shares of STI ETF, SPH, Starhub, KC, Sembmar, DBS, OCBC and Capmall over the years with total more than $1,200. With charge $10.70, it is only less than 1%. I have accumulated few full lots of some counter with decent profit. But downside, when you want to sell, they will charge normal brokerage fee (min $20++), and also charge 1% of dividend.

I thought OCBC is cheaper by only 0.3% or max $5, but when they activate $5 per counter, it will be only good to buy more than $500/counter. Benefit of OCBC is selling also charged 0.3% or $5 per counter and it seems there is no charge on dividend. I really hope OCBC can keep the waiver of $5 as long as possible, although I read from this thread, it will finish by end of this year ;(.
 

steven168z

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I just realize their $5 charge (which is currently waived) is "PER COUNTER"!

I have invested in POEMS ShareBuilder Plan, and their charge is either $6.42 (for max 2 counters or up to $1,000) or $10.70 (more than 2 counters or $1,000). I have bought small shares of STI ETF, SPH, Starhub, KC, Sembmar, DBS, OCBC and Capmall over the years with total more than $1,200. With charge $10.70, it is only less than 1%. I have accumulated few full lots of some counter with decent profit. But downside, when you want to sell, they will charge normal brokerage fee (min $20++), and also charge 1% of dividend.

I thought OCBC is cheaper by only 0.3% or max $5, but when they activate $5 per counter, it will be only good to buy more than $500/counter. Benefit of OCBC is selling also charged 0.3% or $5 per counter and it seems there is no charge on dividend. I really hope OCBC can keep the waiver of $5 as long as possible, although I read from this thread, it will finish by end of this year ;(.


when SGX reduce the lots from 1000 to 100 in jan 2014 i think

you not need BCIP/RSP.

the final outcome will be reduce to 1 share.

let looking forward for it.
 

genie47

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when SGX reduce the lots from 1000 to 100 in jan 2014 i think

you not need BCIP/RSP.

the final outcome will be reduce to 1 share.

let looking forward for it.

The proposed standard board lot size of 100 units will apply to ordinary shares, real estate investment trusts, business trusts, company warrants, structured warrants, extended settlement contracts and shares on GlobalQuote.

But board lot sizes for exchange traded funds - barring the SPDR STI ETF and ABF SG Bond Fund - American Deposit Receipts and fixed income instruments, including Singapore Government Securities and preference shares, will remain unchanged.

SGX seeks to reduce standard board lot size to 100 units - Channel NewsAsia
 

makav31i

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However, the index funds don't get this save for G3B which is already at 100 per lot.

I thought all ETF barring (except) the index funds would no be reduced in lot size? Or is it my English really cui?
 

Vincent_G

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Yeah, definitely lot size of 100 will make more shares becomes much more affordable. However, some stocks still need more than 1K to buy each time, like KC, DBS, etc.. And, the main problem is the minimum charges imposed by most broker, ranging from $18-$25 which is very high for small buy. SCB is cheapest right now, but they are still the custodian of your shares.

I hope SGX can come out with some agreement to reduce this fee..
 

Delsamor

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Take an example after the promotion ends. If every month I give OCBC $5, one year I would have given them $60. Is the dividends enough to cover this if I were to hold for long term?
 

makav31i

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Take an example after the promotion ends. If every month I give OCBC $5, one year I would have given them $60. Is the dividends enough to cover this if I were to hold for long term?

Now till June 2014 sign up for it as the fee is 0.3%..after June deduction, cancel the deduction for the next month and transfer your shares to your cdp account...:p

If they extend the promotion after June 2014, just continue loh...
 

bigmice

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Now till June 2014 sign up for it as the fee is 0.3%..after June deduction, cancel the deduction for the next month and transfer your shares to your cdp account...:p

If they extend the promotion after June 2014, just continue loh...

How to transfer? Is there any fee when doing transfer?
 

Delsamor

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Now till June 2014 sign up for it as the fee is 0.3%..after June deduction, cancel the deduction for the next month and transfer your shares to your cdp account...:p

If they extend the promotion after June 2014, just continue loh...

Idea hahaha. Thanks for the advice. :s12:
 

OCBC Bank

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How to transfer? Is there any fee when doing transfer?

Hi makav31i and bigmice,

You can get the Blue Chip Investment Plan Transfer Out Form from any OCBC Branch. Do note that only holdings settled with cash can be transferred out, and is not applicable to holdings in SRS.

Here’s the breakdown of the fees (inclusive of GST):
CDP | S$10.70 per counter*

Other financial institutions | Change of beneficial owner | S$10.70 per 1000 shares per counter, capped at S$107*
Other financial institutions | No change of beneficial owner | S$10.70 per counter*


^Richelle
For OCBC Bank
 

chyn_no

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just to confirm, the div rec frm bcip is non-taxable right? jus like our normal holding in cdp..
 
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