*OFFICIAL* Standard Chartered Bank Online Equities Trading

[oldchanggold]

The new email I got from SCB hotline is : onlineequities.gbsindia-sg@sc.com
sgwm.assettransfer@sc.com not in use anymore

Just in case anyone needs

I also transferred (LSE ETF: VWRD) a few times before, and I have an IBSG account.

Sharing with you the note I keep for my own reference.



As a good practice, you should always check the information of both brokers to confirm the correctness. I last transferred in Nov 2023 and I got the updated IBKR info by opening a ticket with them. I didn't call SC as was lazy.

There was once I hit a problem, due to a "margin issue" according to IBKR. In fact I have a cash account, not margin. The issue arised because I submitted a transfer when I had a trade that is executed but not yet fully settled. So, I always try to set aside a 2 week of non-trading period if I want to transfer from IBKR to SC. After the last trade in IBKR, wait for 2 business days for the trade to fully settle, then submit the application to both IBKR and SC. Avoid making any new trade in IBKR before the transfer completes.

Thank you for the information and sharing. May I check the rationale for transfer to SCB from IBKR pl

 

[reddevil0728]

Thank you for the information and sharing. May I check the rationale for transfer to SCB from IBKR pl

some ppl feel safer with securities being held in a bank operating in sg than a brokerage from overseas

 

[hwckhs]

Thank you for the information and sharing. May I check the rationale for transfer to SCB from IBKR pl

To guard against a single broker going broke or having other issues, no matter how small the probability. I hold my financial assets with IBKR, SCB and CDP. Diversification, helps me sleep better.

 

[oldchanggold]

To guard against a single broker going broke or having other issues, no matter how small the probability. I hold my financial assets with IBKR, SCB and CDP. Diversification, helps me sleep better.

some ppl feel safer with securities being held in a bank operating in sg than a brokerage from overseas

Sorry, may I ask if it's better to just transact at IBKR then trf to SCB since it's cheaper to perform trades at IBKR, or if I'm missing anything (provided that I still maintain min 100k USD to avoid recurring charges). Thank you.

 

[hwckhs]

Sorry, may I ask if it's better to just transact at IBKR then trf to SCB since it's cheaper to perform trades at IBKR, or if I'm missing anything (provided that I still maintain min 100k USD to avoid recurring charges). Thank you.

I think IBKR scraps the recurring $10/mo charge long time ago?
Yes, I buy with IBKR and transfer to SCB.

 

[oldchanggold]

I think IBKR scraps the recurring $10/mo charge long time ago?
Yes, I buy with IBKR and transfer to SCB.

Omg I didnt know. Last time that was y I opened scb account but then decided to bite the bullet and absorb the recurring cost in IBKR since rather troublesome and the fx savings. Thank you very much for the information.

 

[twosix]

I think IBKR scraps the recurring $10/mo charge long time ago?
Yes, I buy with IBKR and transfer to SCB.

Why transfer to scb?

 

[hwckhs]

Why transfer to scb?

To guard against a single broker going broke or having other issues, no matter how small the probability. I hold my financial assets with IBKR, SCB and CDP. Diversification, helps me sleep better.

This.

 

[twosix]

This.

Noted. But you said buy with ibkr and transfer to scb.

For me, I buy with multiple brokers and keep them there. Same concept as dun keep all eggs in one basket.

 

[hwckhs]

Noted. But you said buy with ibkr and transfer to scb.

For me, I buy with multiple brokers and keep them there. Same concept as dun keep all eggs in one basket.

It is free to transfer from IBKR to SCB (at least for LSE ETF). IBKR has a much better FX rate and lower commission. So, buying at IBKR and transferring to SCB is cheaper than buying directly in SCB.

 

[oldchanggold]

It is free to transfer from IBKR to SCB (at least for LSE ETF). IBKR has a much better FX rate and lower commission. So, buying at IBKR and transferring to SCB is cheaper than buying directly in SCB.

Btw can just trf one share to make sure the inward instructions is correct? Haha

 

[CaptainWu]

It is free to transfer from IBKR to SCB (at least for LSE ETF). IBKR has a much better FX rate and lower commission. So, buying at IBKR and transferring to SCB is cheaper than buying directly in SCB.

Not bad if both IBKR and SCB are free as I thought normally there will be charges from the sending end. You can initiate the transfer online or need RM to perform the form filling and transfer?

 

[hwckhs]

Btw can just trf one share to make sure the inward instructions is correct? Haha

Yes. Also before you embark on a serious 'buy and transfer' operation, ensure that your stock can actually be transferred. There are some peculiar one that cannot.

Not bad if both IBKR and SCB are free as I thought normally there will be charges from the sending end. You can initiate the transfer online or need RM to perform the form filling and transfer?

No RM involvement.

After logging into SCB online trading, there is an icon/menu at the top for online form submission. If you wish to confirm SCB's email address (to be provided to IBKR), you need to call SCB online trading hotline though.

 

[oldchanggold]

Yes. Also before you embark on a serious 'buy and transfer' operation, ensure that your stock can actually be transferred. There are some peculiar one that cannot.

No RM involvement.

After logging into SCB online trading, there is an icon/menu at the top for online form submission. If you wish to confirm SCB's email address (to be provided to IBKR), you need to call SCB online trading hotline though.

May I ask if you transfer in dividend paying stocks into SCB and if there is any cost effective way to invest the dividend. i.e. trf the USD to IBKR haha

 

[elvintay07]

Sorry, may I ask if it's better to just transact at IBKR then trf to SCB since it's cheaper to perform trades at IBKR, or if I'm missing anything (provided that I still maintain min 100k USD to avoid recurring charges). Thank you.

In my opinion, I feel ibkr can be very cheap. uS$0.35 per transaction. But I observed if you buy LSE, sometimes IBKR can be more ex. SC seems cheaper. For Singapore, I buy with SC because it is % driven.

In terms of safe, I think both IBKR and SC are safe. But I think banks will have more regulation to follow. And SC is in SG mah. Perhaps can sleep better. Furthermore if you put in SC, can be priority/ private banking client. Year end can change some notes for ang pow. Although now service by all banks are ultra cui

 

[hwckhs]

May I ask if you transfer in dividend paying stocks into SCB and if there is any cost effective way to invest the dividend. i.e. trf the USD to IBKR haha

My LSE ETF pays USD dividends. I just reinvest received USD dividends in SCB. Not transferring out.

If you get priority banking, there is no minimum commission. You can buy even 1 share with no cost penalty.

 

[oldchanggold]

In my opinion, I feel ibkr can be very cheap. uS$0.35 per transaction. But I observed if you buy LSE, sometimes IBKR can be more ex. SC seems cheaper. For Singapore, I buy with SC because it is % driven.

In terms of safe, I think both IBKR and SC are safe. But I think banks will have more regulation to follow. And SC is in SG mah. Perhaps can sleep better. Furthermore if you put in SC, can be priority/ private banking client. Year end can change some notes for ang pow. Although now service by all banks are ultra cui

Sorry, the statement in bold. Isit cos u r priority customer? But I thought the FX conversion cui

 

[elvintay07]

Sorry, the statement in bold. Isit cos u r priority customer? But I thought the FX conversion cui

Yes. Priority. I see my IBKR commission higher. I don’t compare the FX. Usually SC I buy those shares I want to hold forever. It is an account with only buy and no sell so doesn’t matter to me since keeping for long

 

[oldchanggold]

My LSE ETF pays USD dividends. I just reinvest received USD dividends in SCB. Not transferring out.

If you get priority banking, there is no minimum commission. You can buy even 1 share with no cost penalty.

Sorry, may I know how many days did you experience before the transfer takes place successfully!

 

[hwckhs]

Sorry, may I know how many days did you experience before the transfer takes place successfully!

+/- a week (up to 2 weeks) for the whole process, if all details are correct. After 2-3 business days, the shares will be deducted from IBKR first. Then, another 2-3 business days later, they appear in SCB.