HWZ Forums

limster · 17-06-2011, 12:31 PM

steventay wrote:

first u need to have a saving account in SCB

e-Saver is FREE no need min
u have SCB SG Settlement acc

first u transfer fund from other bank to SCB e-Saver.

when the fund in the E-Saver, transfer it to the SCB SG Settlement acc if u want to buy SG Market.

the amt in the SCB Settlement acc is the purchasing power.

when u bid or queue any order, it will reduce the purchasing power.
Eg Settlement acc 50K
end of the day u bid 10K

the amt will deduct from the settlement Account T+3.

u can only transfer 40K back to E-Saver acc.

Amt in the settlement account do not earn interest i think.

thanks, that was very helpful.

Sinkie · 17-06-2011, 01:50 PM

Can I buy and sell on same day or before settlement day (t+3)

steventay wrote:

first u need to have a saving account in SCB

e-Saver is FREE no need min
u have SCB SG Settlement acc

first u transfer fund from other bank to SCB e-Saver.

when the fund in the E-Saver, transfer it to the SCB SG Settlement acc if u want to buy SG Market.

the amt in the SCB Settlement acc is the purchasing power.

when u bid or queue any order, it will reduce the purchasing power.
Eg Settlement acc 50K
end of the day u bid 10K

the amt will deduct from the settlement Account T+3.

u can only transfer 40K back to E-Saver acc.

Amt in the settlement account do not earn interest i think.

steventay · 17-06-2011, 02:58 PM

Sinkie wrote:

Can I buy and sell on same day or before settlement day (t+3)

yes i suppose

Sinkie · 17-06-2011, 04:05 PM

steventay wrote:

yes i suppose

if i buy and sell on the same day, when will the settlement account refund the money?

steventay · 17-06-2011, 04:07 PM

Sinkie wrote:

if i buy and sell on the same day, when will the settlement account refund the money?

why don't u try yourself to find out

Sinkie · 17-06-2011, 04:08 PM

steventay wrote:

why don't u try yourself to find out

i thought you are from standchart, opp.. sorry

steventay · 17-06-2011, 04:12 PM

Sinkie wrote:

i thought you are from standchart, opp.. sorry

i am not from standchart, i just have the account created recently.

Snoops88 · 18-06-2011, 01:01 PM

1. The account in offer is a pre-paid account with no contra permitted;

2. The rate of 0.18% is only offered to accounts with $200K or more deposited with the Bank;

3. Shares under this account are kept under Standard Chartered Bank’s Nominees. Clients who subsequently wish to close the account or change brokers will incur transfer charges to transfer the shares to CDP.

4. The platform offered to this account is purely DIY online trading platform with no personalized services.

blushing_guy · 19-06-2011, 09:58 AM

steventay wrote:

first u need to have a saving account in SCB

e-Saver is FREE no need min
u have SCB SG Settlement acc

first u transfer fund from other bank to SCB e-Saver.

when the fund in the E-Saver, transfer it to the SCB SG Settlement acc if u want to buy SG Market.

the amt in the SCB Settlement acc is the purchasing power.

when u bid or queue any order, it will reduce the purchasing power.
Eg Settlement acc 50K
end of the day u bid 10K

the amt will deduct from the settlement Account T+3.

u can only transfer 40K back to E-Saver acc.

Amt in the settlement account do not earn interest i think.

Based on the FAQ, there are interests being paid out in your settlement account. Just only I do not know how much is the interests being paid to the account holders.
http://www.standardchartered.com.sg/...ng/en/faq.html

earthyblue · 19-06-2011, 12:13 PM

The attractiveness of this SCB scheme is the NO MINIMUM COMMISSION.

- How they make money is where your money is to get you to dump your money into their bank so that funds which you did not use to purchase shares can be invested by them.

- The low entry barrier scoops up the mass market and also those who do a lot of intra day trading. Imagine the money these people can save on.

- SCB holds the shares, not CDP. You will need to buy and sell only through SCB.

Of course, there will be concerns by many because it looks too good to be true compared to the market standard.
However let's not forget, in foreign countries, this is already very common. And today we are not talking about ABC bank or XYZ bank. If its citibank rolling this out, I may have some concerns, but not Standard Chartered.

Their marketing campaign is weak but that's the irony. They got a lot of people interested with questions so that people actually go down to their bank branches to find out more. That is where this bank suddenly improves its network arm.

So eventually I must say, NO MIN COMMISSION might be an industry standard in time to come. Don't write it out.

addict951 · 21-06-2011, 08:32 AM

eh ask yall
how long does the trsf of funds from my esavers a/c to the settlement a/c take? It's not immediate one leh

blushing_guy · 21-06-2011, 09:37 AM

addict951 wrote:

eh ask yall
how long does the trsf of funds from my esavers a/c to the settlement a/c take? It's not immediate one leh

Hmm... I just did a internal transfer from my Xtrasaver account to my SECURITIES SETTLEMENT ACCOUNT and the funds transfer is immediate. So I think E-savers should be the same ba.

addict951 · 21-06-2011, 09:37 AM

Eh, ask yall somemore

Current promo 1st 2 trades free for everyone right?
Then just now I test test I click buy, but still come out showing comm 0.2% and sgx clearing fee 0.04%
So what? After you click liao, trade went thru then they return you back the comm for these 1st 2 trades?

addict951 · 21-06-2011, 09:38 AM

blushing_guy wrote:

Hmm... I just did a internal transfer from my Xtrasaver account to my SECURITIES SETTLEMENT ACCOUNT and the funds transfer is immediate. So I think E-savers should be the same ba.

ya ya, thanks thanks
I transferred at about 7:30am just now
9am then i see the amount in the settlement a/c