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

Status
Not open for further replies.

kenpachi82

Supremacy Member
Joined
Apr 14, 2007
Messages
9,706
Reaction score
107
mine was activated within 1-2 working days (i applied online)
 

nothinisimpossiblewiftime

Arch-Supremacy Member
Joined
May 22, 2007
Messages
12,947
Reaction score
0
I know I'm going to sound terribly xenophobia but I dun trust foreign banks.

When I first graduated, my first credit card was actually with SCB. There customer service was quite terrible and they were very sticky on charges like late charge, interest charge, annual fee.

So in the end, I severed my relationship with them and never looked back. More or less same experience with Citibank. Bank of China was not a bad experience.

These was in the past and I'm sure their customer service has improved. But there is nothing that these foreign banks can offered me that the big 3 does not. And this will probably be through even when I become a HNWI.

So thanks but no thanks. Once bittern twice shy.

actually temasek is the biggest shareholder of scb
used to be khoo famillee until they sold to teasek
 

nothinisimpossiblewiftime

Arch-Supremacy Member
Joined
May 22, 2007
Messages
12,947
Reaction score
0
http://www.singwealth.com/portal/in...nchart-raises-the-bar-and-lowers-trading-fees

an article on this latest SCB offer, btw for those whose accounts are already activated and ready to go... how many working days did it took?

mine was activated within 1-2 working days (i applied online)

i went down to vivocity branch to apply
was told i neek a bank account with scb,
so i open a esaver account

about 4 working days liao, online trading account still not activated

bros that apply thru branch takes how long to activate
 

kenneth27

Member
Joined
Apr 12, 2003
Messages
274
Reaction score
0
Me too wondering. They need to go thru CDP also.

Citibank took almost one month. I finally call them and they say pending CDP approval. I ask the to cancel the application, then I opened SCB. Wonder how long these take.
 

MikeDirnt78

High Supremacy Member
Joined
Jun 16, 2002
Messages
32,007
Reaction score
873
if you got SCB IB, it will just take 3 to 5 days to get the trading account opened.
 

Sinkie

Greater Supremacy Member
Deluxe Member
Joined
Jan 20, 2009
Messages
85,959
Reaction score
11
Me too wondering. They need to go thru CDP also.

Citibank took almost one month. I finally call them and they say pending CDP approval. I ask the to cancel the application, then I opened SCB. Wonder how long these take.

but there is no cdp linkage form when u open the account
 

xterious

Master Member
Joined
Oct 12, 2010
Messages
4,802
Reaction score
0
Saw this promo on the news paper as well... So it's confirm you need a bank acc with SCB and it does not support contra?
 

kenneth27

Member
Joined
Apr 12, 2003
Messages
274
Reaction score
0
but there is no cdp linkage form when u open the account

You are absolutely right! The right question! I notice that too!

Questions I asked to my (1 year experience) officer for account opening.

Q1. Can i make shares payment using another bank and leave my SCB saving account $0?

Officer answer : No. You need to use SCB.

(I suspect they may not give a trading limit. Why is there no request of your montly salary statement or CPF statement? So whatever amount you have in SCB determine what you can trade? My dmg account have a trading limit and anything above limit, I have to kept a deposit with them. But it allow me to pay using another bank like OCBC even though it is link to DBS.)

Q2. So it will link to my CDP account?

Officer answer : Hmm...I don't know.

(I suspect if there is a possiblity SCB will buy the shares on behalf and keep it on the behalf of CDP. I hope not. That's mean SCB being the direct purchaser? Shares should be held directly with CDP and SCB being the broker only.

Officer dunno..really blur...
 
Last edited:

comeonshowme

Member
Joined
Jun 22, 2009
Messages
197
Reaction score
0
Saw this promo on the news paper as well... So it's confirm you need a bank acc with SCB and it does not support contra?

You can contra, but not the normal way. You need to have the deposit with them, the same amount of the contract size you bought.

Once you buy, amount will deducted already, so you can sell immediately.
 

Sinkie

Greater Supremacy Member
Deluxe Member
Joined
Jan 20, 2009
Messages
85,959
Reaction score
11
You can contra, but not the normal way. You need to have the deposit with them, the same amount of the contract size you bought.

Once you buy, amount will deducted already, so you can sell immediately.

can sell immediately or must wait for delivery after T+3 then can sell?
 

cuntzbuster

High Supremacy Member
Joined
Aug 7, 2005
Messages
26,110
Reaction score
198
finalpoems1.jpg


http://www.phillip.com.sg/100.htm
 

limster

Supremacy Member
Joined
Oct 31, 2000
Messages
9,393
Reaction score
170
You are absolutely right! The right question! I notice that too!

Questions I asked to my (1 year experience) officer for account opening.

Q1. Can i make shares payment using another bank and leave my SCB saving account $0?

Officer answer : No. You need to use SCB.


There is a cash settlement account for the purchase of shares. Can I transfer funds from say a POSB account to this cash settlement account to buy shares? Or is this special account only accessible via another SCB account?
 

steventay

Banned
Joined
Jan 1, 2000
Messages
1,810
Reaction score
0
Another shares to custodian and not Cdp trading platform

Poems Prepaid Cash Custodian Account

Q1. Minimum commission S$25?
A1. Yes

Q2. $100,000 for 6 months to qualify for the Samsung Galaxy Tab, chances high?
A2. Yes, as long as you never withdraw the money out.

Q3. Trading Acc no for Prepaid is the same as my current?
A3. No, it will be a new custodian a/c (you can only sell those shares bought thru or in this new a/c as the shares are kept here instead of CDP)

Q4. at least S$50K in the prepaid or MMF to get 0.20%
A4. Yes
 

steventay

Banned
Joined
Jan 1, 2000
Messages
1,810
Reaction score
0
There is a cash settlement account for the purchase of shares. Can I transfer funds from say a POSB account to this cash settlement account to buy shares? Or is this special account only accessible via another SCB account?

first u need to have a saving account in SCB

e-Saver is FREE no need min
u have SCB SG Settlement acc


first u transfer fund from other bank to SCB e-Saver.

when the fund in the E-Saver, transfer it to the SCB SG Settlement acc if u want to buy SG Market.

the amt in the SCB Settlement acc is the purchasing power.

when u bid or queue any order, it will reduce the purchasing power.
Eg Settlement acc 50K
end of the day u bid 10K

the amt will deduct from the settlement Account T+3.

u can only transfer 40K back to E-Saver acc.

Amt in the settlement account do not earn interest i think.
 

limster

Supremacy Member
Joined
Oct 31, 2000
Messages
9,393
Reaction score
170
first u need to have a saving account in SCB

e-Saver is FREE no need min
u have SCB SG Settlement acc


first u transfer fund from other bank to SCB e-Saver.

when the fund in the E-Saver, transfer it to the SCB SG Settlement acc if u want to buy SG Market.

the amt in the SCB Settlement acc is the purchasing power.

when u bid or queue any order, it will reduce the purchasing power.
Eg Settlement acc 50K
end of the day u bid 10K

the amt will deduct from the settlement Account T+3.

u can only transfer 40K back to E-Saver acc.

Amt in the settlement account do not earn interest i think.

thanks, that was very helpful.
 

Sinkie

Greater Supremacy Member
Deluxe Member
Joined
Jan 20, 2009
Messages
85,959
Reaction score
11
Can I buy and sell on same day or before settlement day (t+3)

first u need to have a saving account in SCB

e-Saver is FREE no need min
u have SCB SG Settlement acc


first u transfer fund from other bank to SCB e-Saver.

when the fund in the E-Saver, transfer it to the SCB SG Settlement acc if u want to buy SG Market.

the amt in the SCB Settlement acc is the purchasing power.

when u bid or queue any order, it will reduce the purchasing power.
Eg Settlement acc 50K
end of the day u bid 10K

the amt will deduct from the settlement Account T+3.

u can only transfer 40K back to E-Saver acc.

Amt in the settlement account do not earn interest i think.
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.
Top