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Old 11-11-2013, 07:46 PM   #1
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Transferring shares from CDP to SCB

Just did a share transfer at a SCB branch last week. Quite a few forms to fill up including details such as stock ISIN and counterparty details. The RM who helped me seems like buay zhai (i.e. no confident)... anyone knows exactly what will happen subsequently? specifically the following questions i have on my mind:
- how many days for shares to be fully transferred
- how is CDP going to charge me $10.70 per share transferred?
- will SCB notify me once the transfer is completed?

basically, the RM couldnt answer my questions, but i still went ahead to sign the share transfer form. Any help would be much appreciate!
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Old 11-11-2013, 08:37 PM   #2
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Just did a share transfer at a SCB branch last week. Quite a few forms to fill up including details such as stock ISIN and counterparty details. The RM who helped me seems like buay zhai (i.e. no confident)... anyone knows exactly what will happen subsequently? specifically the following questions i have on my mind:
- how many days for shares to be fully transferred
- how is CDP going to charge me $10.70 per share transferred?
- will SCB notify me once the transfer is completed?

basically, the RM couldnt answer my questions, but i still went ahead to sign the share transfer form. Any help would be much appreciate!
Answering to your questions to the best of my knowledge.

1. Transfer time frame varies between 2 to 3 weeks. But please be prepared for occasional "hicups" example: rejection from CDP side pertaining to signature irregularities...

2. Transfer from CDP to SCB is "free". The admin fee is absorbed by SCB from what i heard. Anyone please do correct me if i am wrong in this. (regards to SCB absorbing the fee)

3. Once the shares are successfully transferred, you will be notified by post, both from CDP and SCB side.

Hope these information help to clarify any doubts you have.
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Old 11-11-2013, 08:53 PM   #3
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ya, kind of expecting some hiccups from CDP side. anyway, thanks for your help!
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Old 12-11-2013, 09:55 AM   #4
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Scb is $0 fee, but CDP will charge you $10.70 per 1000 shares in transfer.

So is better to sell rather than transfer.

Imagine you have 200,000 shares at $0.10. How much to pay? Again, I remember there is cap of transfer fees, but forget how much...
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Old 12-11-2013, 10:03 AM   #5
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I have a transfer application request raised on the 12 OCt.

Has been ding donging between CDP and SCB and reason being signature irregularities... approximately 3 times i have re-signed the form.

Called CDP and gave them a piece of my mind and till today still no updates.

Personally i think due to the influx of requests from SCB for shares transfer, CDP has came out with this "delay technique".

Anyone facing the same problem?
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Old 12-11-2013, 10:27 AM   #6
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I have a transfer application request raised on the 12 OCt.

Has been ding donging between CDP and SCB and reason being signature irregularities... approximately 3 times i have re-signed the form.

Called CDP and gave them a piece of my mind and till today still no updates.

Personally i think due to the influx of requests from SCB for shares transfer, CDP has came out with this "delay technique".

Anyone facing the same problem?
you can go to CDP and change signature there just in case the last time you opened the account your signature has morphed . that's what happened to me and I changed at CDP and everything was resolved pretty quickly after that.
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Old 12-11-2013, 10:36 AM   #7
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you can go to CDP and change signature there just in case the last time you opened the account your signature has morphed . that's what happened to me and I changed at CDP and everything was resolved pretty quickly after that.
Hi Imara,

Thanks for the advice

But i did not face this problem on my initial 3 transfers.

Only recently did i start to face this hindrance from CDP side.

Nevertheless, i will continue to bug them and see how long it will take for this transfer to go through.

Thanks again!
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Old 12-11-2013, 01:09 PM   #8
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mine took 4 days from CDP to SCB and it's free... not sure how come the $10.70 kick in...
only 2 forms to fill lahz.. where got many forms?
you will receive a letter from both CDP and SCB on the transfer or otherwise check your SCB trading account
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Old 12-11-2013, 09:52 PM   #9
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whats the pros of transferring from cdp to scb???
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Old 13-11-2013, 11:15 AM   #10
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whats the pros of transferring from cdp to scb???
My reasons:
- to make use of their "stop loss" function
- take advantage of their lower commissions
- consolidate my share-holdings
- add on/accumulate small quantities to my holdings (i.e. no minimum commission)
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Old 13-11-2013, 08:39 PM   #11
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mine took 4 days from CDP to SCB and it's free... not sure how come the $10.70 kick in...
only 2 forms to fill lahz.. where got many forms?
you will receive a letter from both CDP and SCB on the transfer or otherwise check your SCB trading account
CDP charges $10.70, but SCB absorbs it
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Old 13-11-2013, 08:45 PM   #12
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My reasons:
- to make use of their "stop loss" function
- take advantage of their lower commissions
- consolidate my share-holdings
- add on/accumulate small quantities to my holdings (i.e. no minimum commission)

FYI sgx moving into 100units from 2014 so
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Old 13-11-2013, 09:08 PM   #13
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FYI sgx moving into 100units from 2014 so
No use lah!

We want no minimum commission! So that we can buy 1 lot of blumont.
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Old 14-11-2013, 04:46 PM   #14
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No use lah!

We want no minimum commission! So that we can buy 1 lot of blumont.
Use stanchart lah.

Sometimes i buy already i transfer to CDP.
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Old 14-11-2013, 08:06 PM   #15
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Use stanchart lah.

Sometimes i buy already i transfer to CDP.
if i am not wrong, there is a charge of $10.70 per type of share if you transfer out from SCB
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