OCBC SRS Account - What are the charges?

vince123123

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Dear OCBC,

Is it possible for me to download, fill out and send in those forms and save having to make a trip down to a branch? If so, where can I get these forms from?

Hi linusz,

To transfer SRS account from other banks to OCBC, you can:

Visit an OCBC Bank branch.
Complete and sign the

-Account Transfer form
-SRS Account Application form
-Declaration form

The branch will submit these documents for the processing of the transfer.

^DG
 

OCBC Bank

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Dear OCBC,

Is it possible for me to download, fill out and send in those forms and save having to make a trip down to a branch? If so, where can I get these forms from?

Hi vince123123,

We apologise for any inconvenience caused, but the forms can only be obtained at our branches.

^DG
 

OCBC Bank

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Any holding costs or service charges quarterly etc

Sent from Samsung SM-N9005 using GAGT


Hi linusz,

If you are using SRS for BCIP.

Buying shares

0.3% of total investment amount or S$5 per counter, whichever is higher
+
S$0.54 per counter for processing


Selling of shares


0.3% of total sales proceeds or S$5 per counter, whichever is higher
+
S$0.54 per counter for processing


Buy-in fee due to short-selling of shares

S$80.25 per counter +0.853325% of total sales proceeds


Transfer of shares to CDP or other financial institutions

Account in own name (no change of beneficial owner): S$10.70 per counter

Account in not in own name (change of beneficial owner): 0.107% X Last Done Price of counter X number of shares
(subject to minimum of S$150)

^DG
 

OCBC Bank

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Can I send someone to collect the forms and bring them back for me to fill out and send them to OCBC?

Hi vince123123,

The applicant will have to be present at the branch in order to apply for the transfer of his SRS account from other banks to OCBC.

^DG
 

linusz

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Hi linusz,

If you are using SRS for BCIP.

Buying shares

0.3% of total investment amount or S$5 per counter, whichever is higher
+
S$0.54 per counter for processing


Selling of shares


0.3% of total sales proceeds or S$5 per counter, whichever is higher
+
S$0.54 per counter for processing


Buy-in fee due to short-selling of shares

S$80.25 per counter +0.853325% of total sales proceeds


Transfer of shares to CDP or other financial institutions

Account in own name (no change of beneficial owner): S$10.70 per counter

Account in not in own name (change of beneficial owner): 0.107% X Last Done Price of counter X number of shares
(subject to minimum of S$150)

^DG
Is there a service charge every quarter

Sent from Samsung SM-N9005 using GAGT
 

lchkelvin

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Hi Skypower and chiokcc,

Currently OCBC does not levy any Service Fees or Transaction Charges.

If customer performs a Shares transaction (buying or selling), CDP will charge a $0.50 transaction fee (with additional prevailing GST).

Hope this clarifies.

^DG

Has this been changed? Cos i got charged a total fees of $46 for a purchase transaction of 7,000 shared at S$1.95 share price.
 

chiokcc

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Has this been changed? Cos i got charged a total fees of $46 for a purchase transaction of 7,000 shared at S$1.95 share price.

$46++ should be the brokerage with a token transaction fee included...
 

lzydata

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Has this been changed? Cos i got charged a total fees of $46 for a purchase transaction of 7,000 shared at S$1.95 share price.

Don't know which broker you use but I will assume the online commission rate 0.275% since they all have the same rate.

Online rate 0.275%
Clearing fee + SGX trading access fee 0.04%
7% GST on commission, clearing fees and SGX trading access fees
$0.54 per counter for SRS

7,000 x $1.95 x (0.275% + 0.04%) x 1.07 + $0.54 = $46.55.
 

Squaredot

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For money refund to CPF, how many days it takes to see the sum credited to cpf account?
 

lchkelvin

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Don't know which broker you use but I will assume the online commission rate 0.275% since they all have the same rate.

Online rate 0.275%
Clearing fee + SGX trading access fee 0.04%
7% GST on commission, clearing fees and SGX trading access fees
$0.54 per counter for SRS

7,000 x $1.95 x (0.275% + 0.04%) x 1.07 + $0.54 = $46.55.

thanks! That makes sense
 

ihuazai2

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It's weird that for CPFIS the banks all charge $2.50 per 1000shares/units or partthereof, subject to a maximum of $25.00 per transaction, but not for SRS.

CPFIS charges is awful cause it's like double paying brokerage commission, once to your broker, and then once to the CPFIS provider.
 

limster

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It's weird that for CPFIS the banks all charge $2.50 per 1000shares/units or partthereof, subject to a maximum of $25.00 per transaction, but not for SRS.

CPFIS charges is awful cause it's like double paying brokerage commission, once to your broker, and then once to the CPFIS provider.

CPF, buy shares that you want to hold forever, If you want to use CPFIS to trade, unit trust with FSM is actually quite good because they have zero sales charge, zero switching fees, no platform fee for CPF.
 

$ingaporean

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Hi linusz,

Currently OCBC does not levy any Service Fees.

^DG

Hello OCBC,

The list of Unit trust available to buy online is very limited compared to DBS.

Is there any plans to increase the list?

DBS sales charge for online unit trust purchase is very competitive to OCBC too.
 

AhPek_Lion

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Just to clarify....so if i invest using SRS to buy stocks, there is no charge of $2.50 per 1000share and quarterly maintenance?

However if i use CPF, this charges will apply?
 

zumaba

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Don't know which broker you use but I will assume the online commission rate 0.275% since they all have the same rate.

Online rate 0.275%
Clearing fee + SGX trading access fee 0.04%
7% GST on commission, clearing fees and SGX trading access fees
$0.54 per counter for SRS

7,000 x $1.95 x (0.275% + 0.04%) x 1.07 + $0.54 = $46.55.

that's why SGX and PAP are hopeless.

I use my own money to invest but were forced to pay such a ridiculously high commission? day robbery? where got law in Sinkapore? anyway 70% think we have the law. :s13:
 
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lzydata

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Just to clarify....so if i invest using SRS to buy stocks, there is no charge of $2.50 per 1000share and quarterly maintenance?

However if i use CPF, this charges will apply?

Correct, no charge for SRS and charged for CPFIS.
 
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