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Old 06-03-2015, 06:56 PM   #3589
marc_cheng
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Join Date: Dec 2000
Posts: 122
So, I have sorted out how to get the transfer done at a cost effective manner after visiting SCB earlier in the morning and then calling DBS.

USD from DBS to SCB USD FCY SSA
1. Outward TT from DBS to SCB FCY SSA. DBS CSO confirms TT free.
2. SCB will then charge inward TT of SGD 10 equivalent.

USD from USD FCY SSA to DBS
1. Outward TT at 1/8% comms
2. DBS will then charge Inward TT at SGD 10 equivalent.

SCB SSA - don't accept cashier orders, only TTs or transfers to/from SCB savings/current accounts.
hi all,

Looks like I have been given the wrong information by the SC staff that opened the Online Equities Trading platform for me.

On Sat, he mentioned that I can directly TT from another bank to the FCY SSA. However, when I called the SC online equities trading platform hotline, the CSO said that it's not possible. The only possible transfers to all SSAs are from SC's savings accounts. In this case, it means I need to open a USD FCY$aver with SC and transfer from there and there's a min balance of 2K USD required.

Another thing to note, the CSO recommends that I can transfer my USD to my local currency e$aver account and they will flip it back to USD. I told her off that you are making me lose more money because of the double spread. She just kept mum.

So I assume my idea of avoiding the min 2K USD balance is not possible then.
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