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

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Perisher

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

It's a long series of words

CASH DIVIDEND-(PSEC)PROSPECT CAPITA L COR XXXXX


the XXXXX is a series of numbers.

30% tax will be these long series of words

US WITHHOLDING TAX (CAT) CATERPILLA R INC XXXXX

and for local counters, its these

CASH DIVIDEND-(ES3)STREETTRACKS STR AITS XXXXXX
 

stam

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anyone with US stocks which default dividend option is scrip?

I have 100 shares, the dividend is less than a share. The letter from standchart say round down to nearest whole no., means i would not get a share, but cash?

Also, scrip dividend is already deduct the 30% withholding tax right?

Thanks.
 

Perisher

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anyone with US stocks which default dividend option is scrip?

I have 100 shares, the dividend is less than a share. The letter from standchart say round down to nearest whole no., means i would not get a share, but cash?

Also, scrip dividend is already deduct the 30% withholding tax right?

Thanks.

You would get cash back. I had 1 incident when I forgot to call in to request for cash. They took over 3 months and lots of calls to pay me back the dividends.
Best to call them and give your instructions to take cash as this involve a couple of parties, including the companies that give you the shares/cash, scb, call centre and you. If your instruction is clear, it saves a lot of headache later on.
 

stam

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

for USD cash deposit must be thru the counters right?

Anyone know the spread between SCB conversion and the money changers? Thanks.
 

Perisher

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for USD cash deposit must be thru the counters right?

Anyone know the spread between SCB conversion and the money changers? Thanks.

Right now, SCB exchange
1000 SGD at 1.377654 to USD. So you get 725.87USD from 1k SGD
1000 USD at 1.352902 to SGD. So you get 1,352.90SGD from 1k USD.
 

kungfoo

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Regarding the funding of SCB US$ account, I think the following is the most cost effective way if you are intending to change and hold US$.

1) Open DBS multi currency account with chequing facility. Cost = $2 per month and to maintain SGD3000 or its equivalent.
2) Open SCB US$ chequing account. Cost = Maintain min US$5k in account.
3) With the above accounts, you can deposit US$ cash into DBS account and transferring it to SCB US$ account via cheque. If you need to transfer US$ out, just issue a cheque.

Any comments?
 

Perisher

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Regarding the funding of SCB US$ account, I think the following is the most cost effective way if you are intending to change and hold US$.

1) Open DBS multi currency account with chequing facility. Cost = $2 per month and to maintain SGD3000 or its equivalent.
2) Open SCB US$ chequing account. Cost = Maintain min US$5k in account.
3) With the above accounts, you can deposit US$ cash into DBS account and transferring it to SCB US$ account via cheque. If you need to transfer US$ out, just issue a cheque.

Any comments?

I remember on some thread, someone advised that you can direct TT USD into the US FCY SSA from DBS MCA. Thus, you can skip step 2 and 3. Just TT the USD back to DBS multicurrency account perhaps? Not sure how to do that though.
In fact, marc cheng on this thread, just the last 2 page describe this thing. He checked and it worked.
 
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henryscy

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It's a long series of words

CASH DIVIDEND-(PSEC)PROSPECT CAPITA L COR XXXXX


the XXXXX is a series of numbers.

30% tax will be these long series of words

US WITHHOLDING TAX (CAT) CATERPILLA R INC XXXXX

and for local counters, its these

CASH DIVIDEND-(ES3)STREETTRACKS STR AITS XXXXXX

Thanks for the reply. ;)
 

klarklar

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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)

Have you tried it before? Sorry, don't mean to doubt you but this blogger says no. So, unsure now.

Got Money, Got Honey!: SCB Online Equities Trading Shortfalls
 

flikmy

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I remember on some thread, someone advised that you can direct TT USD into the US FCY SSA from DBS MCA. Thus, you can skip step 2 and 3. Just TT the USD back to DBS multicurrency account perhaps? Not sure how to do that though.
In fact, marc cheng on this thread, just the last 2 page describe this thing. He checked and it worked.

Believe if you TT USD out of StanChart, they will charge some fee for the TT as well as on the notional transferred. Anyone about to confirm?
 

$warrior

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I press online trading then they show the usual error message. The please wait while we restore service stuff :(
Ah well, like the mrt - only less frequent in breakdown! Hopefully will be restored soon. All said and done thankful for one discounted brokerage for retail.
 

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.

To flikmy
Here's your TT fees answer. marc cheng tested. Thank to him.
 

Tuckie

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cannot trade. even scb trading platform also got post-cny blues.
 
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