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

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pleeted

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anyone sign up SCB cards or other accounts besides eSaver?

thought of owning 1 SCB card/account so that I can easily withdraw money and enjoy other privileges if there is any?

nt sure which card/account is good for user who use this to platform to trade often?

lastly, is it possible to link the new card to the existing SCB trading account?

i contemplating a basic scb manhattan $500 card.

plz advise/recommend.

thanx.
 
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squeeish

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Just a heads up, I went down yesterday to sign up for an account. I was told that since I failed all 3 criteria of the CAR, they didn't allow me to open.

The CSO did tell me that the "by left way" was to just declare that I have trading experience and he wanted me to write down the names of 6 stocks, which I couldn't because I'm extremely new.

So much for wanting to look-see haha.
 

Dividends Warrior

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Just a heads up, I went down yesterday to sign up for an account. I was told that since I failed all 3 criteria of the CAR, they didn't allow me to open.

The CSO did tell me that the "by left way" was to just declare that I have trading experience and he wanted me to write down the names of 6 stocks, which I couldn't because I'm extremely new.

So much for wanting to look-see haha.

If he just needs any 6 names, you could just write the 3 telcos and 3 banks.:s22:
 

MikeDirnt78

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anyone sign up SCB cards or other accounts besides eSaver?

thought of owning 1 SCB card/account so that I can easily withdraw money and enjoy other privileges if there is any?

nt sure which card/account is good for user who use this to platform to trade often?

lastly, is it possible to link the new card to the existing SCB trading account?

i contemplating a basic scb manhattan $500 card.

plz advise/recommend.

thanx.

you dont need a credit card or other accounts to trade with this often. but its advisable that you sign up for their credit cards. you can get to enjoy their credit card promotions once in awhile which can be quite attractive.

you just need to have an esaver account to be able to open a trading account. and make sure you apply for the settlement accounts for all currencies just to standby.
 

sunshade

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Just share my recent unpleasant experience with SCB trading account.

I used to have several SCB accounts, including trading account under my own name (ie single account). Some months back, I brought a relative to a branch with the intention of converting all accounts into joint accounts. I was told that I could convert the other accounts but not the trading account at the branch. I told the staff I could live with single name trading account and I went ahead to sign forms after forms to convert the other accounts.

Thereafter, I could still trade through the trading account for a few weeks, and then about 2 months ago and out of a sudden I was locked out of the trading account.

I called the trading customer service number. Initially, they didn't even know the problem and asked me to keep trying. It took them a while to tell me my security settlement account is now in joint names and as such I can't assess the single-name trading account.

I was then advised to open another single-name share settlement account and they sent me some forms to fill. No return address was given and they sent a courier to pick up the forms. It has been almost 6 weeks and after many calls the account is still not opened. I'm still locked out of my trading account with my portfolio frozen. Neither was I given any reason for the delay.

It was unprofessional for SCB to allow me to convert the settlement account into joint-name knowing that I will be unable to access my trading account. It was poor service to take more than 6 weeks trying to resolve my problem.

All the time, I've been asking if I can speak with the processing departments but the answer has been no.

Sigh...
 

smallJB

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wat is the difference between

SECURITIES SETTLEMENT ACCOUNT VS SECURITIES TRADING ACCOUNT?
 

Sinkie

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Just share my recent unpleasant experience with SCB trading account.

I used to have several SCB accounts, including trading account under my own name (ie single account). Some months back, I brought a relative to a branch with the intention of converting all accounts into joint accounts. I was told that I could convert the other accounts but not the trading account at the branch. I told the staff I could live with single name trading account and I went ahead to sign forms after forms to convert the other accounts.

Thereafter, I could still trade through the trading account for a few weeks, and then about 2 months ago and out of a sudden I was locked out of the trading account.

I called the trading customer service number. Initially, they didn't even know the problem and asked me to keep trying. It took them a while to tell me my security settlement account is now in joint names and as such I can't assess the single-name trading account.

I was then advised to open another single-name share settlement account and they sent me some forms to fill. No return address was given and they sent a courier to pick up the forms. It has been almost 6 weeks and after many calls the account is still not opened. I'm still locked out of my trading account with my portfolio frozen. Neither was I given any reason for the delay.

It was unprofessional for SCB to allow me to convert the settlement account into joint-name knowing that I will be unable to access my trading account. It was poor service to take more than 6 weeks trying to resolve my problem.

All the time, I've been asking if I can speak with the processing departments but the answer has been no.

Sigh...

wtf :s22::s22::s22:
 

MikeDirnt78

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sunshade dont you have a RM?

if no, its advisable to go down to Battery Road. Settle all the paperworks there and follow up with RM that attended to you earlier. The process will be much faster.
 

iceberserker

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noob question, are there any withholding tax or any other tax by US gov if we buy ETFs that tracks US index but are listed in SGX?
 

qweiop

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I have some questions regard the scb account after reading some websites etc.

1. Is the scb really slower in executing our orders for us?

2. Anyone having any problems with rights issues or dividend payments?

3. Is the data really not real time or even close to real time?

Thanks
 

pleeted

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you dont need a credit card or other accounts to trade with this often. but its advisable that you sign up for their credit cards. you can get to enjoy their credit card promotions once in awhile which can be quite attractive.

you just need to have an esaver account to be able to open a trading account. and make sure you apply for the settlement accounts for all currencies just to standby.
thanx 4 de reply.
 

deceitful01

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I have some questions regard the scb account after reading some websites etc.

1. Is the scb really slower in executing our orders for us?

2. Anyone having any problems with rights issues or dividend payments?

3. Is the data really not real time or even close to real time?

Thanks

1. Results are almost instantaneous if bid price is at the mkt price

2. rights nt sure, dividends are one day late as compared to other brokerages.

3. as quoted from scb

"All market data is delayed at least 15 minutes, unless otherwise noted.
Tokyo SE (TSE), Nikkei and Australia SE (ASX) data is delayed at least 20 minutes.
Chicago Mercantile Exchange (CME) and Sydney Futures Exchange (SFE) data is delayed at least 10 minute"
 

rerear

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Sorry, just saw account has been opened from my internet banking page.

However, where to click to see the trading page?

Can anyone also confirm that for me to get dividends from Nikko AM STI ETF, need to send them a mail every month?
==================================================
4. Dividend Payments Require More Work, Are Delayed to Next month

This is really my beef with the SCB trading platform. I was expecting my Dividend payment from SingPost this month and it never came in. So I called them up to enquire and this is the reply I get. “I will receive a letter from SCB at the end of the month stating that I have received Dividends and I can opt to either receive them in cash or in shares.” So I asked them if they can automatically just send me cash and deposit directly into my account. They said no. Now that’s just more work for me, I HAVE TO mail back a letter every month (since I get Dividends every month) to opt for my Dividends in cash and I will only receive them the next month.

As discussed, there is money to be saved by using the SCB trading platform. However, there are also a few downsides to consider. As a Long Term Dividend Investor, my strategy does not gel so well with this new platform. I rather pay more in commissions and own the stocks directly as well as get my Dividends on time, banked straight into my account.
 
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Sinkie

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Sorry, just saw account has been opened from my internet banking page.

However, where to click to see the trading page?

Can anyone also confirm that for me to get dividends from Nikko AM STI ETF, need to send them a mail every month?
==================================================
4. Dividend Payments Require More Work, Are Delayed to Next month

This is really my beef with the SCB trading platform. I was expecting my Dividend payment from SingPost this month and it never came in. So I called them up to enquire and this is the reply I get. “I will receive a letter from SCB at the end of the month stating that I have received Dividends and I can opt to either receive them in cash or in shares.” So I asked them if they can automatically just send me cash and deposit directly into my account. They said no. Now that’s just more work for me, I HAVE TO mail back a letter every month (since I get Dividends every month) to opt for my Dividends in cash and I will only receive them the next month.

As discussed, there is money to be saved by using the SCB trading platform. However, there are also a few downsides to consider. As a Long Term Dividend Investor, my strategy does not gel so well with this new platform. I rather pay more in commissions and own the stocks directly as well as get my Dividends on time, banked straight into my account.

Singpost also have script dividend now?
 

digitalguy

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i bought sph reit on 24th july through scb. it was listed under "Online trading" --> "stock portfolio". But the current balance amount of security trading account in account summary page is not updated yet.

I called CSO to clear this doubt today and was told that online banking account summary page will be updated after t+3days, which i feel is not correct. I vaguely remember that is like next day.

Is it same for you all bros?


Thanks in advance
 
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xtwis7

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i bought sph reit on 24th july through scb. it was listed under "Online trading" --> "stock portfolio". But the current balance amount of security trading account in account summary page is not updated yet.

I called CSO to clear this doubt today and was told that online banking account summary page will be updated after t+3days, which i feel is not correct. I vaguely remember that is like next day.

Is it same for you all bros?


Thanks in advance

Yea, that's correct. Your securities settlement account will not be reflected until T+3. For more accurate balance, you can check in online trading by seeing your balance.
 

MikeDirnt78

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Sorry, just saw account has been opened from my internet banking page.

However, where to click to see the trading page?

Can anyone also confirm that for me to get dividends from Nikko AM STI ETF, need to send them a mail every month?
==================================================
4. Dividend Payments Require More Work, Are Delayed to Next month

This is really my beef with the SCB trading platform. I was expecting my Dividend payment from SingPost this month and it never came in. So I called them up to enquire and this is the reply I get. “I will receive a letter from SCB at the end of the month stating that I have received Dividends and I can opt to either receive them in cash or in shares.” So I asked them if they can automatically just send me cash and deposit directly into my account. They said no. Now that’s just more work for me, I HAVE TO mail back a letter every month (since I get Dividends every month) to opt for my Dividends in cash and I will only receive them the next month.

As discussed, there is money to be saved by using the SCB trading platform. However, there are also a few downsides to consider. As a Long Term Dividend Investor, my strategy does not gel so well with this new platform. I rather pay more in commissions and own the stocks directly as well as get my Dividends on time, banked straight into my account.

1) firstly, get your facts correct. singpost does not have any scrip

2) tell us the correct stock which you didnt receive the dividends. did you check your Settlement Account? the other forummers can testify on their dividends.

3) i suspect the CSO that you spoken to is wrong. usually for scrip dividend scheme, default option is to take cash if you choose to do nothing

4) 1 day delay is the norm. just ask yourself. can your 1 day interests earned from your dividends able to offset the higher commission? if yes, then of course its wise to avoid this platform.
 

rerear

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Thanks for the details Mike... it actually isn't my own experience, that paragraph was taken from someone's blog... now feel much better with scb!
 
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