CPF Easy Info Thread. :)

[item2sell]

do you recall which post mentioned about DBS with CPF for T-bill?

Anyway will be great if you can share the next round, so i can update the t-bill thread also. will reach out. thanks!

Confirm that my friend uses DBS CPf buy Tbills. Deduct first from CPF

 

[reddevil0728]

Confirm that my friend uses DBS CPf buy Tbills. Deduct first from CPF

So deduct before auction date?

 

[item2sell]

So deduct before auction date?

Yes deduct on the day he applied

 

[reddevil0728]

Yes deduct on the day he applied

wah ok.

 

[item2sell]

wah ok.

I changed to OCBC. It I have not tried with tbills yet

 

[vsvs24]

I changed to OCBC. It I have not tried with tbills yet

I try with DBS you try with OCBC then we can compare how different they work

Btw, how you change CPFIS to ocbc ? Previously with which bank ? You had to liquidate everything inside or can transfer over to ocbc ?

 

[reddevil0728]

I try with DBS you try with OCBC then we can compare how different they work

@Happyhappydays previously confirmed application with OCBC, only the discounted face value got deducted and it was deducted on 8 Aug ahead of issue date of 10 aug for BS22115F.

@Happyhappydays did you try apply a second time?

 

[item2sell]

I try with DBS you try with OCBC then we can compare how different they work

Btw, how you change CPFIS to ocbc ? Previously with which bank ? You had to liquidate everything inside or can transfer over to ocbc ?

I went down OCBC and explain what I want to do. The cso got some document for me to sign and DBS charge me $81 to transfer my account over due to existing shares and gold etf

 

[vsvs24]

I went down OCBC and explain what I want to do. The cso got some document for me to sign and DBS charge me $81 to transfer my account over due to existing shares and gold etf

The charges is how much per security ? Paid by cash or from CPF OA?

 

[item2sell]

The charges is how much per security ? Paid by cash or from CPF OA?

Deduct from OA

 

[vsvs24]

@Happyhappydays previously confirmed application with OCBC, only the discounted face value got deducted and it was deducted on 8 Aug ahead of issue date of 10 aug for BS22115F.

@Happyhappydays did you try apply a second time?

Interesting. BS22115F auction date 4 Aug, issue date 10 Aug. Nett was deducted on 8 Aug.

OCBC not scared CPF OA got insufficient funds ?

 

[vsvs24]

Wah. So if bid competitive and did not get because cutoff yield is lower, those under DBS lose interest for one month and those under OCBC don't lose interest at all ? This could be a big difference !

 

[reddevil0728]

Wah. So if bid competitive and did not get because cutoff yield is lower, those under DBS lose interest for one month and those under OCBC don't lose interest at all ? This could be a big difference !

seems like it. but we have at least one case of ocbc only deducting after the fact.

 

[oceanicmanta]

I think that is OCBC. That's why I very unhappy with DBS. But my CFPIS with DBS so have to bear with their nonsense or get out.

Anyway I plan to do small test next issue to understand how it works before I start the big purchase. Plan to place $2000 non-competitive and $1000 competitive at 3.9% (test unsuccessful).

bro, like that will kena $2.50 x 2 or not by DBS ?

and if refund back, would there be another charge ?

 

[oceanicmanta]

@Happyhappydays previously confirmed application with OCBC, only the discounted face value got deducted and it was deducted on 8 Aug ahead of issue date of 10 aug for BS22115F.

@Happyhappydays did you try apply a second time?

Discounted FV was deducted (after application) as he was successfully allocated.

Is it safe to assume that there will be no deduction (by OCBC) if not successful ie Comp Bid higher than Cut Off ?

 

[reddevil0728]

Discounted FV was deducted (after application) as he was successfully allocated.

Is it safe to assume that there will be no deduction (by OCBC) if not successful ie Comp Bid higher than Cut Off ?

reasonable assumption. but unless there is a case study, it is a calculated gamble.

 

[vsvs24]

bro, like that will kena $2.50 x 2 or not by DBS ?

and if refund back, would there be another charge ?

That's why I am testing both successful and unsuccessful next issue.

 

[oceanicmanta]

That's why I am testing both successful and unsuccessful next issue.

maybe a unsuccessful Comp Bid wld suffice to test water

can save $2.50 for the subsequent main placement

 

[vsvs24]

I went down OCBC and explain what I want to do. The cso got some document for me to sign and DBS charge me $81 to transfer my account over due to existing shares and gold etf

Bro, can share more info ?

1. From the time you sign the documents at OCBC, how long did it take for the transfer to be effected at OCBC CPFIS ?

2. How is the $81 charge arrived at ? Is it based on number of securities or value ?

3. Kaypo a bit. What made you want to change ?

 

[vsvs24]

maybe a unsuccessful Comp Bid wld suffice to test water

can save $2.50 for the subsequent main placement

Will test successful too because I am going big on subsequent purchase.