SRS Portfolio

[af7680]

yes. SRS using CashPlus


Read HWZ Forum Rules!

Thank you for helpful advice
I have both cash management and cash plus account but I can't place an order using SRS money from cash plus account. Called up poem and their cust rep said in order to place an order using SRS money in cash plus account , I need to put in cash into cash plus account first and then can place an order (using SRS money ),after which , I can withdraw the cash . Does it make sense ?
So last time , I had to open cash management account for SRS stock order which has minimum fee.

 

[XiaoFu99]

Thank you for helpful advice
I have both cash management and cash plus account but I can't place an order using SRS money from cash plus account. Called up poem and their cust rep said in order to place an order using SRS money in cash plus account , I need to put in cash into cash plus account first and then can place an order (using SRS money ),after which , I can withdraw the cash . Does it make sense ?
So last time , I had to open cash management account for SRS stock order which has minimum fee.

Yes, CashPlus type of account is "pre-fund" type of account. Think of it like Debit card instead of credit card. This is similar to Interactive Broker as well.

Even though you are using SRS to fund your transaction, still, you need to pre-fund it with cash (since they won't know whether you have sufficient fund @ your SRS account).

After clearance, yes, you can withdraw the cash out from POEMs back to your bank account.

 

[af7680]

Yes, CashPlus type of account is "pre-fund" type of account. Think of it like Debit card instead of credit card. This is similar to Interactive Broker as well.

Even though you are using SRS to fund your transaction, still, you need to pre-fund it with cash (since they won't know whether you have sufficient fund @ your SRS account).

After clearance, yes, you can withdraw the cash out from POEMs back to your bank account.

Thank you !!

 

[Kojo0403]

Yes, CashPlus type of account is "pre-fund" type of account. Think of it like Debit card instead of credit card. This is similar to Interactive Broker as well.

Even though you are using SRS to fund your transaction, still, you need to pre-fund it with cash (since they won't know whether you have sufficient fund @ your SRS account).

After clearance, yes, you can withdraw the cash out from POEMs back to your bank account.

thanks, learnt something

 

[pcmdan]

I bought shares using my srs dbs vickers for years. However I am disgusted with the admin charges. Any ways to lower the fees? Like cash plus method etc?
Any expert can teach me?

I called dbs vickers they say no other ways.

 

[Kojo0403]

I bought shares using my srs dbs vickers for years. However I am disgusted with the admin charges. Any ways to lower the fees? Like cash plus method etc?
Any expert can teach me?

I called dbs vickers they say no other ways.

fsmone/ iFast is cheapest at $8.80.
however they only allow SGD counters at this point

 

[Pathos00]

can someone advise how to calculate cost of buying S27 using DBS SRS (Vickers) and how to know how much can buy?
How they determine the exchange rate?

 

[yuzu28]

Thank you for helpful advice
I have both cash management and cash plus account but I can't place an order using SRS money from cash plus account. Called up poem and their cust rep said in order to place an order using SRS money in cash plus account , I need to put in cash into cash plus account first and then can place an order (using SRS money ),after which , I can withdraw the cash . Does it make sense ?
So last time , I had to open cash management account for SRS stock order which has minimum fee.

I thought the SRS can only tie to one account... Mine is with Poems cash management. Hence, the commission is not cheap, and I also dun do rsp for stocks. In the past, i use my SRS to buy only ES3. Now, I swapped to UTs.

 

[celtosaxon]

can someone advise how to calculate cost of buying S27 using DBS SRS (Vickers) and how to know how much can buy?
How they determine the exchange rate?

You’ll have to contact your broker to know how they determine the exchange rate. For my broker, UOBKH, they get some kind of board rate from UOB and it’s been quite good - consistently 0.3% from spot.

 

[af7680]

I thought the SRS can only tie to one account... Mine is with Poems cash management. Hence, the commission is not cheap, and I also dun do rsp for stocks. In the past, i use my SRS to buy only ES3. Now, I swapped to UTs.

my understanding is this is not tied to one account. as long as other brokerage account is linked to your SRS account, you can use any brokerage account to use SRS money.

 

[Kojo0403]

POEMS cheapest for sgx etf now

https://www.poems.com.sg/no-minimum-commission-sgx-listed-etfs/

 

[iceblendedchoc]

POEMS cheapest for sgx etf now

https://www.poems.com.sg/no-minimum-commission-sgx-listed-etfs/

i am on cash management account. should i switch to cash plus instead?

 

[dgeralds]

i am on cash management account. should i switch to cash plus instead?

Is it only for cash plus account? It is not mentioned.

By the way if we already have a cash management account, should we open a new cash pus account?

 

[elvintay07]

Not sure what everyone think of Lion Philip S Reit? Looks like a better investment than STI ETF. Any thoughts?

 

[iceblendedchoc]

Is it only for cash plus account? It is not mentioned.

By the way if we already have a cash management account, should we open a new cash pus account?

i look at the commissions. the cash plus is lower but need investment every quarter to avoid quarterly charges which is not hard if i spread the $15300 in four portions for each quarter instead of a lump sum every Jan.

 

[dgeralds]

i look at the commissions. the cash plus is lower but need investment every quarter to avoid quarterly charges which is not hard if i spread the $15300 in four portions for each quarter instead of a lump sum every Jan.

Yes I understand. Can i convert my cash account to cash plus account or open a cash plus account?

Looks like the below link did not mention about the account type

https://www.poems.com.sg/no-minimum-commission-sgx-listed-etfs/

 

[iceblendedchoc]

Yes I understand. Can i convert my cash account to cash plus account or open a cash plus account?

Looks like the below link did not mention about the account type

https://www.poems.com.sg/no-minimum-commission-sgx-listed-etfs/

not sure but i send a query via email to Philips on account conversion. Maybe will get an answer monday or so.

 

[sohguanh]

It would be good if poems extend this promotion to include all stocks REIT and non-REIT listed in SGX instead of only ETF.

 

[dgeralds]

Did you receive any reply?

Looks like it is for all accounts and the no minimum commission for sgx listed etf is from 03 February to 30 June 2022.

For info, mine is a cash account. I bought 1 share using SRS on 21/2/22. Details are as follows:
Price: USD438
Settlement Amount: -SGD539.39
Exchange rate: 1.3493

not sure but i send a query via email to Philips on account conversion. Maybe will get an answer monday or so.

 

[wrathofgod]

Hi,

I used my SRS to purchase SGX shares using vickers.

Any idea when I reached retirement age(62), what do I need to do in order to retain the shares?

TIA