(Standard Chartered Online Trading Account) Can't transfer my $100K into it. Help!

yukari_san3

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1) Have USD $100,000 in Citibank.

And I want to transfer it to my Standard Chartered's USD Settlement Account.

Both accounts are in USD.


2) Added the payee in Citibank.

However, there is no option to select USD as the base currency for transfer.


This means I have to convert USD to SGD in Citibank. Transfer it to StandChart, then convert it from SGD to USD.

WTF!


Anyone have experience with this please advise :)
 

platopus

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For a more shiok option, go Citibank and withdraw cash $100k, then walk to scb n deposit.
 

Mr_woW5

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Im afraid your only solution is to taje sgd put into stand chart and then convert back. Thats what the cso told me over the phone too.
 

stjoe1

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Use cheque ..


I have been transferring my USD from UOB Global Account to Standard Chartered USD High Yield Account without any problem using cheque and without any charges ..


Once the fund is in SC USD High Yield Account then just do online transfer to USD Settlement Account for trading ..
 

flikmy

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I think you'll need to open a separate USD account in SCB first as I don't think you can transfer USD into the settlement account.

Transferring USD from a SCB USD account to SCB USD settlement account should be immediate.
 

limster

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I dont think they will let you deposit 100k cash cos of money laundering measures

Please provide link to MAS rule or regulation before making unverified claims.

One reason I doubt the rule is that if 100k is not allowed, then I just queue 2 times, and deposit 50k each time. If you also say 50k not allowed, then I queue 4 times and deposit 25k each time.
 

cybercom8

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in before anyone says hao lian thread in disguise...:s13:

but the best way is to issue a US$ cheque like someone mentioned.
 

naro

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Its not normal transfer. You have to select telegraphic transfer.

Have to pay TT fees. I TT HKD from citibank to scb hkd settlement account before.
 

platopus

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Yup, told ts the answers already he say we troll.

Maybe really is money laundering lol
 

boolCano

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Digging up this old thread, but it seems appropriate.

Anybody done the reverse, taken USD out from the settlement account.

I don't have Priority Banking , so i cannot use the High account. The Cheque and Save account has a minimum daily balance of 5k, so thats a bit inconvenient.

So, it seems the most straightforward would be a USD cheque. Has anybody done that, drawn a USD cheque directly from Settlement account. Or any other ideas?
 
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