View Single Post
Old 17-06-2011, 12:25 PM   #75
steventay
Banned
 
steventay's Avatar
 
Join Date: Jan 2000
Posts: 1,810
There is a cash settlement account for the purchase of shares. Can I transfer funds from say a POSB account to this cash settlement account to buy shares? Or is this special account only accessible via another SCB account?
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 is offline