Standard Chartered - Only Online Trading in town with no minimum commission

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Perisher

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Hi Perisher, paiseh if u got confused by me. I was asking the FCY$aver ( which is SC FCY account) vs FCY SSA account as mentioned in my first msg.

However, you still do not need to suffer the exchange rates of SC if u open FCY$aver, you can still TT in USD but need min balance of USD2000. I wanted to avoid the min balance, as mentioned earlier. When u need to make settlement in FCY SSA, you just do iBank transfer.

Thanks for sharing!

Yup, it's my bad. I kept thinking you are referring to FCY SSA.

Is it possible to just go to money exchange and get USD and deposit into this USD FCY$aver instead of TT?
 
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marc_cheng

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Yup, it's my bad. I kept thinking you are referring to FCY SSA.

Is it possible to just go to money exchange and get USD and deposit into this USD FCY$aver instead of TT?

No worries. We are all learning. Deposit of USD cash is the worst as it charges 1.5% commission for deposit.

TT charges 1/8% comms for outward, ie from the other non SC bank and SC charges sgd10 equivalent for the same but inward TT
 
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itedino

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how to do trading and view stock market?? I log in and want to buy singapore stock but I am stuck. anyone can advise
 

marc_cheng

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Perisher, do note that in my case, I already have USD in other bank and I am finding a cost effective way of soon the transfer.

In your case, it's more of finding the best exchange rates and then finding again, a cost effective way of transferring.
 

marc_cheng

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Thanks to all that have shared valuable information. I dropped by SC a min ago. I can directly TT to SC FCY SSA. Likewise, when I want to transfer USD out of SSA, I can only use TT
 

Perisher

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how to do trading and view stock market?? I log in and want to buy singapore stock but I am stuck. anyone can advise

Do you see 'online trading' on the left hand list of stuff when you log in?
Click that and you are in the online trading page.
on the left again, there is a place a trade, click that and you can made your trade.

choose buy or sell
choose the market you wanna buy or sell (note that you need to have $$ in your securities Settlement account in their respective currency in their market.)

enter the stock code/ticker
enter how many shares
enter the price you wish to buy/sell
 

naro

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It seem like they are bent on getting commission on that transfer. Outward TT ok?

TT fees applies for sender and receiver. I habe not tried outward TT from my HKD SCB SSA account.

For SCB, inward TT fees apply for same currency TT. So, sender send USD and SCB receiver receives in USD, TT fees apply. but if currency is different, its free. So, sender send in SGD, SCB receiving account is a USD account, its free.
 

naro

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Can you help confirmed this? Direct TT into SCB USD FCY SSA.
No need to have priority banking status, or USD High account?
Because limster says someone has confirmed that direct TT isn't possible, it's only through the USD High account.

Thank.

Dun think need priority banking status. I only have a normal personal banking with SCB.
 

marc_cheng

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So, I have sorted out how to get the transfer done at a cost effective manner after visiting SCB earlier in the morning and then calling DBS.

USD from DBS to SCB USD FCY SSA
1. Outward TT from DBS to SCB FCY SSA. DBS CSO confirms TT free.
2. SCB will then charge inward TT of SGD 10 equivalent.

USD from USD FCY SSA to DBS
1. Outward TT at 1/8% comms
2. DBS will then charge Inward TT at SGD 10 equivalent.

SCB SSA - don't accept cashier orders, only TTs or transfers to/from SCB savings/current accounts.
 
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Perisher

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So, I have sorted out how to get the transfer done at a cost effective manner after visiting SCB earlier in the morning and then calling DBS.

USD from DBS to SCB USD FCY SSA
1. Outward TT from DBS to SCB FCY SSA. DBS CSO confirms TT free.
2. SCB will then charge inward TT of SGD 10 equivalent.

USD from USD FCY SSA to DBS
1. Outward TT at 1/8% comms
2. DBS will then charge Inward TT at SGD 10 equivalent.

SCB SSA - don't accept cashier orders, only TTs or transfers to/from SCB savings/current accounts.

This is such an awesome discovery. Thank a lot, marc_cheng and naro, Gonna save so much more with this knowledge.
 

Perisher

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Now the problem becomes which bank has the best conversion rate for SGD to USD and the best USD Currency savings account(i.e. lowest minimum daily balance which trigger fall below fee), and best TT rates... Still is a headache to compare.
 

rerear

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How much is the lousy rates if just transfer sgd from esaver to become USD in scb fcy ssa?
 

Sinkie

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Now the problem becomes which bank has the best conversion rate for SGD to USD and the best USD Currency savings account(i.e. lowest minimum daily balance which trigger fall below fee), and best TT rates... Still is a headache to compare.

Convert at arcade money exchange then go malacca st to deposit into DBS mutli currency trust lor
 

marc_cheng

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Oh yar, what Sinkie mention is correct. DBS MCA or multiplier account, deposit and withdraw USD is 0% comms.
 

Sinkie

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Oh yar, what Sinkie mention is correct. DBS MCA or multiplier account, deposit and withdraw USD is 0% comms.

Dbs Mca needs $3000 Minimun maintenance also, can be in sgd also
 

klarklar

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Does anyone know if SGS bonds and corporate bonds can be bought on SGX using SCB online trading?
 

felixleong

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Does anyone know if SGS bonds and corporate bonds can be bought on SGX using SCB online trading?

yes since they are traded on the sgx main board

however do note that usually retail bonds the liquidity is quite poor... u will see a wider bid/ask spread

especially on SGS... the liquidity is horrible

popular retail bonds like

genting 5.125%
CMT 3%
CMA 3.8%

blue chip bonds tend to have good liquidity, however they are quite expensive (way above par value)
 

henryscy

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Can I check, when company gave out dividends, what is the transaction code reflected in my transaction history?
 
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