US dividends

[mynickname]

I received a cheque for some dividends from the US. I think the local banks charge a bit high to clear them. Anyone with a cheaper solution?

 

[Perisher]

I received a cheque for some dividends from the US. I think the local banks charge a bit high to clear them. Anyone with a cheaper solution?

which banks or rather which broker are you using?

SCB charges nothing for dividends even for US counters.
There is a 30% tax is by US though which applies across every brokerage.

 

[Yowzer]

I received a cheque for some dividends from the US. I think the local banks charge a bit high to clear them. Anyone with a cheaper solution?

How come send directly a cheque to you? Usually auto go inside your trading account.

 

[gbpdem]

if you intend to hold the counter for longer term
you can request for them to purchase more of that stock using dividend proceeds and keep the balance for next payout

i do this for some of my foreign share holdings
so your holdings will grow over time and you save on
the ridiculous charges for foreign currency cheques clearing
every quarterly

 

[peacefulday]

I just maintain USD transaction within my brokage USD trust account or Bank USD account. I will only convert to SGD in a lump sum when the rate is good or wanna quit from Dow trading.

 

[dkgamer]

30% tax charges as someone mentioned. rarely hear stock dividends are paid through cheque. unless your stocks are held direct from company or received through stock options.

 

[Perisher]

I remember a few years back my first ever dividend from iOCBC was a cheque that eat away $10 for 'admin' fees out of my $10+ dividends! Ridiculous.

 

[chopra]

I use citibank sg

 

[peacefulday]

I use citibank sg

me 2. There will be no additional admission fee incur when USD converted to SGD too ^^