how can i transfer from SC USD securities acc to IBKR?

[RoLanTo]

Hi,

may i know what is the best efficient way with possibly 0 fees and no FX transaction to transfer my USD in SC usd securities account to IBKR?

i dont wish to convert USD-->SGD then xfer to IBKR and convert back to USD again.

And the securities account doesnt seem to allow me fund transfer it out to other bank/entity

 

[reddevil0728]

Hi,

may i know what is the best efficient way with possibly 0 fees and no FX transaction to transfer my USD in SC usd securities account to IBKR?

i dont wish to convert USD-->SGD then xfer to IBKR and convert back to USD again.

And the securities account doesnt seem to allow me fund transfer it out to other bank/entity

Dbs remit is free.

But u need to get ur money into dbs first. If u do it bit TT dbs charges an inward remittance fee.

Maybe u see if SCB can issue u a USD cheque at minimal cost. Then bank it into dbs which is free. Then do the transfer.

 

[RoLanTo]

sorry, pretty new to this..

from SC can remit free to IBKR?
if cannot, then the 0 fee method will be

from SC FCY$aver --> DBS multiplier USD --> dbs remit to IBKR ?

 

[reddevil0728]

sorry, pretty new to this..

from SC can remit free to IBKR?
if cannot, then the 0 fee method will be

from SC FCY$aver --> DBS multiplier USD --> dbs remit to IBKR ?

Probably can. But may cost money?

Sc to dbs multiplier will probably incur cost also. But maybe cheaper, since local to local.

 

[livingcharsiew]

scb can withdraw usd to scb usd account?
SCB remit is free until 30 sep and better rates than dbs retail
https://www.sc.com/sg/save/mca/
*To participate in the SC Remit Promotion (“Promotion”), you must during the Promotion Period (1 July 2020 to 30 September 2020, both dates inclusive) successfully complete an online remittance transaction using Online Banking or Mobile Banking from a bank account (held with Standard Chartered Bank (Singapore) Limited (the “Bank”)) to the eligible countries in the eligible currency pairs (each, a “Qualifying Remittance Transaction” or “QRT”).

https://www.interactivebrokers.com/en/index.php?f=1544&p=transfer
or initiate position transfer from ibkr side?

 

[RoLanTo]

scb the FCY securities account can only withdraw to SCB savings account
so its either bonus$aver or FCY$aver at the moment

seems like FCY$aver will have a lower requirement for avg daily balance.

The SC remit, dunnoe why no option send in USD dollar, only SGD option