kenpachi82
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mine was activated within 1-2 working days (i applied online)
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.
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)
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
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.
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.
Another shares to custodian and not Cdp trading platform
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.
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.
Can I buy and sell on same day or before settlement day (t+3)
yes i suppose
if i buy and sell on the same day, when will the settlement account refund the money?