*OFFICIAL* Standard Chartered Bank Online Equities Trading

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TiedInsurer

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I have an e-saver account that SCB forced me to open, when i opened an online trading account with SCB. Can i close the e-saver account while still retaining the online trading account? My SCB online trading account also have an SGD account, so i can just transfer $$$ directly to this account from other banks, when i want to invest right?

Only problem now is that i can't find a way to transfer out money from my SCB online trading account, into other bank accounts. This is not supported?
 
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Celibrium

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TiedInsurer said:
I have an e-saver account that SCB forced me to open, when i opened an online trading account with SCB. Can i close the e-saver account while still retaining the online trading account? My SCB online trading account also have an SGD account, so i can just transfer $$$ directly to this account from other banks, when i want to invest right?

Only problem now is that i can't find a way to transfer out money from my SCB online trading account, into other bank accounts. This is not supported?
Click to expand...

Based on what I know, that is not possible. You have to keep the esaver because you wouldn't be able to transfer funds with just the trading account.
 
wutawa

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TiedInsurer said:
I have an e-saver account that SCB forced me to open, when i opened an online trading account with SCB. Can i close the e-saver account while still retaining the online trading account? My SCB online trading account also have an SGD account, so i can just transfer $$$ directly to this account from other banks, when i want to invest right?

Only problem now is that i can't find a way to transfer out money from my SCB online trading account, into other bank accounts. This is not supported?
Click to expand...

yes, while u can transfer money from other banks into your sgd settlement acct, u cannot transfer directly from your sgd settlement acct to other banks. therefore esaver is needed.
 
klanddt

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wutawa said:
yes, while u can transfer money from other banks into your sgd settlement acct, u cannot transfer directly from your sgd settlement acct to other banks. therefore esaver is needed.
Click to expand...

I wonder can you transfer money from other banks directly to other FCY settlement account?

E.g. USD DBS to SCB USD Settlement Account
 
wutawa

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klanddt said:
I wonder can you transfer money from other banks directly to other FCY settlement account?

E.g. USD DBS to SCB USD Settlement Account
Click to expand...
Yes but scb will charge S$10. Dbs will charge 0.125% min S$10 too.
 
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klanddt

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I see thank you for the info.

In this case, one might actually save a bit on forex spread losses via SCB if can buy USD at mid market rates?


wutawa said:
Yes but scb will charge S$10. Dbs will charge 0.125% min S$10 too.
Click to expand...
 
wutawa

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klanddt said:
I see thank you for the info.

In this case, one might actually save a bit on forex spread losses via SCB if can buy USD at mid market rates?
Click to expand...

Not sure what u mean by mid market rates. If u not intending to buy shares yet, u can wait for a lower exchange rate. But if u wan to buy something already, dun be held back because of fx. After all, fx changes all the time and u may miss a good chance to get profit. Too troublesome to consider everything bah.
 
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Jacqueline.

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silly question

1. how do i buy US stocks using SCB? Do i transfer local funds into the USD settlement account?


2. Is there only a curated list of US stocks i can buy from?
friend say he couldn't buy US Prime REITS with SCB
So does that mean i need to open another trading account with another bank?

3. can i transfer from other bank to USD settlement account?

Hope you guys can help, TIA =:p
 
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limster

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wutawa said:
Yes but scb will charge S$10. Dbs will charge 0.125% min S$10 too.
Click to expand...

local US$ cheque deposit directly into SCB US$ settlement account no charge.

user Asphodeli confirmed it works in this thread.
 
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limster

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wutawa said:
Yes but scb will charge S$10. Dbs will charge 0.125% min S$10 too.
Click to expand...

local US$ cheque deposit directly into SCB US$ settlement account no charge. user Asphodeli confirmed it works in an earlier post. The US$ settlement account number is an internal number not valid for electronic transfers - so probably only physical cheque is allowed

I transferred US$ from poems to SCB USD high account. No charge for this.
 
klanddt

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How do you request transfer of shares into SCB account? Do you have to physically go to the Branch and initiate this or can you do it online?
 
wutawa

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limster said:
local US$ cheque deposit directly into SCB US$ settlement account no charge. user Asphodeli confirmed it works in an earlier post. The US$ settlement account number is an internal number not valid for electronic transfers - so probably only physical cheque is allowed

I transferred US$ from poems to SCB USD high account. No charge for this.
Click to expand...

Your poems to scb is without cheque? Error when u did an electronic transfer to usd settlement acct instead of high acct? My fren just did a transfer from dbs to scb recently, that's why i shared the charges. Thanks for sharing 2 cheaper ways.
 
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linkteo

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I am migrating from SCB to IB. What is the best way to transfer my USD$ in SCB FCY Securities Settlement Account to IB overseas USD account? Thanks.
 
Oppa380

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klanddt said:
How do you request transfer of shares into SCB account? Do you have to physically go to the Branch and initiate this or can you do it online?
Click to expand...

I sold my shares at the other broker
Then buy in the shares at scb on same day
 
Oppa380

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klanddt said:
By this way you incur brokerage fees and for me it is not economical.
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I see
Means probably you got more than 1 counter
To transfer in to scb, you need the international stock code or something
Are you scb priority banking?
Can consider asking your relationship manager
I don’t think you can do this online
 
wutawa

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klanddt said:
By this way you incur brokerage fees and for me it is not economical.
Click to expand...

And even fx/cash transfer fees if in usd. Transferring sg shares cost $10.70/counter by cdp. Free for inwards of foreign shares but the other broker may charge outwards transfer fee.
 
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