^
Based on your explanation, do you mean that:

a. Choose 'Cash': KE Trade Account will be opened. Higher brokerage fee will be incurred.

b. Choose 'Prefunded': KE Trade Prefunded Account will be opened. Lower brokerage fee (0.18% / min SGD 10) will be incurred.

c. Choose 'Cash and Prefunded': Two trading accounts will be opened, namely KE Trade Account and KE Trade Prefunded Account.

Am I correct?

Aren't we agree to open KE Trade Prefunded Account, to enjoy lower brokerage fee? Not having the ownership of the shares under our name (not linked to CDP) is not much of a concern, as explained by gark.

I call Maybank KE Customer Service yesterday.

As long as you have a CDP account, your supporting documents (to be sent by post to Maybank KE) do not need to be certified by Commissioners for Oaths.

Thus, for those who like to start to invest in SGX, it is best to open a CDP account, before opening a trading account.

This post has been edited by kart: Feb 28 2017, 10:51 PM

For some Malaysian debit cards, we need to key in temporary PIN number in ATM, and change the PIN number of debit card to our own preferred PIN number.

But, I am unsure whether it is applicable for Maybank Singapore debit card or not.

If we can use Maybank Singapore debit card to withdraw cash in any Maybank Malaysia ATM, can we use Maybank Malaysia ATM to set a new PIN number for our Maybank Singapore debit card? elea88, maybe you are unsure of this as well. Perhaps, some other iSavvy account users here have tried it before.

This post has been edited by kart: Mar 2 2017, 09:52 PM

^
Ok, you have a point, and I agree with you, lamode.

Guess that the only way to change the pin number of our Maybank Singapore debit card is go down to Singapore, to any Maybank Singapore ATM.

Still, changing the PIN number of our Maybank Singapore debit card is not much of a concern to us, since we need mainly the Internet banking access of iSavvy saving account.

This post has been edited by kart: Mar 2 2017, 09:59 PM

I made another call to Maybank KE Customer Service yesterday.

It is better to select 'Cash and Prefunded' option. With that, Maybank KE will open two trading accounts, namely KE Trade Account and KE Trade Prefunded Account, even though we will use only the KE Trade Prefunded Account.

The advantage of this method is that those with CDP account need not have their all account opening forms and supporting documents to be certified by Commissioners for Oaths. Maybank KE will seek the certification and verification of our signature, with CDP instead.

For sure, if you have plenty of $$$ and do not mind engaging the service of Commissioners for Oaths to certify all account opening forms and supporting documents, choose the 'Prefunded'.

This post has been edited by kart: Mar 4 2017, 11:20 AM

For the application of Maybank KE Trade Account (http://www.maybank-ke.com.sg/open-an-accou...-listing/stocks):

1. Maybank KE Trade Account Application Form (http://www.maybank-ke.com.sg/media/1453572...cation-form.pdf)



For this, I should choose 'Yes', right? There should not be any fee on this financial advisory, right?

In my opinion, it should not have any effect on us, since we Malaysians are Overseas investors.


2. CDP Securities Account Opening Form (http://www.maybank-ke.com.sg/media/1453552...rm-dec-2016.pdf)

I was asked to fill up this form, even though I already have a CDP account. The thing is that the direct crediting service is linked to my DBS saving account, since I purchased Singapore Saving Bonds before this.

Can I state my DBS account number in this form, although my Maybank KE Trade Prefunded Account will be linked to my Maybank iSavvy saving account?

Thank you for the information.

This post has been edited by kart: Mar 15 2017, 11:36 PM

For sure, one CDP account is enough for me. They asked me to fill up the CDP Securities Account Opening Form, if there is any change in my particular.


When I opened my CDP account last year, I was not required to fill in my income tax number. That is why I may have to fill up the CDP Securities Account Opening Form, just to inform CDP about my income tax number.


If I am not mistaken, we can nominate only one Singapore bank, for the direct crediting service. I selected DBS before, and I do not want to change that.


Since I plan to open a Maybank KE Trade Prefunded Account, CDP account and direct crediting service are not relevant to this trading account. The only purpose is for Maybank KE to verify my particulars with the help of CDP, so that I do not need to engage Commissioners for Oaths to certify my documents.

This post has been edited by kart: Mar 16 2017, 10:09 PM

I received the letters one by one. The reason I made the list is that you can check your items with mine. If there is anything missing, you need to inform Maybank Singapore.

Within a month or so, you should receive all items and can activate online banking. Did you submit a bank draft worth SGD 500, with your application forms? For me, I did not submit any bank draft, and transferred the required SGD 500 from my other Singapore saving account to my iSavvy account, after my online banking access was activated.

My concern is that after a month, if you still cannot activate your online banking, your saving account may be closed, due to zero balance. If you feel that the delay is too long, you should inform Maybank Singapore.

Another way to activate online banking is through your debit card, as reported by lamode.

This post has been edited by kart: Mar 20 2017, 10:26 PM

^
You have a good memory, Ramjade.

With that, Leslie Toh will be a trading representative for many posters here. . That is good. As he provides good service to us, he truly deserves the commission which forms a part of our brokerage fees.

I was told by a Maybank Kim Eng Customer service officer that selecting Financial Advisory will cause our application for a trading account to be declined. Apparently, as she said, Maybank Kim Eng is unable to provide full-fledged financial advices regarding on which stock to buy.

That is why we need to choose no for Financial Advisory.

This post has been edited by kart: Mar 25 2017, 11:17 AM

walkman660

Congratulations on activating your access to Maybank Singapore online website.

As you said, you did not use your debit card, when registering your access to online banking.

Thus you should not activate your debit card, until you have received the physical card itself. It is for the sake of your security.

This post has been edited by kart: Mar 31 2017, 06:52 AM

ShinG3e

If I remembered correctly, you sent your application form for your Maybank Kim Eng Trade Prefunded Account, via courier service to Singapore.

So, after your application for the trading account was approved, how many letters did you receive, so that you can gain online access to your Maybank Kim Eng trading account?

Thank you for your information.

Thanks for confirmation, ShinG3e.

So, no security token for Maybank Kim Eng Trade Prefunded Account and Cash Account, right?

Also, we do not get any SMS one-time password sent to our handphone, if we transact (buy or sell shares) on the Maybank KE online website (www.ketrade.com.sg), right?

This post has been edited by kart: Apr 9 2017, 04:53 PM

Judging from your reply, we do not need to use a security token, nor SMS OTP, to transact in Maybank KE website. It is fine.

I do have a OneKey security token, since it comes with the CDP account I have. Then again, Two-Factor Authentication (2FA) is not enforced for foreigners like us, and thus we need only username and password.

Thanks for the confirmation, ShinG3e. So, Maybank KE transactions are not as stringent as using Maybank Singapore online website, whereby we need to use security token or SMS OTP to transfer fund in Maybank Singapore website.

What is the meaning of "forced" in your screenshot?

This post has been edited by kart: Apr 10 2017, 10:18 PM

Ramjade

If I want to buy S-REITs share today via Maybank Kim Eng, can I key in the nunber of units and buying price in Maybank Kim Eng website yesterday night?

Or, I can do it on the morning today?

Thanks for the advice.

Thanks, Ramjade.

Are you still using DBS Vickers Cash Upfront Account for SGX trading, or you have changed to Maybank Kim Eng Trade Prefunded Account?

Thanks for your informative post, as always.

For DBS Vickers, do you explain what kind of discount card you get and which company?

Based on DBS Vicker website (http://www.dbs.com.sg/vickers/en/vickers-r...es-btnlearnmore), the brokerage fee of 0.12%, min SGD10 for Cash Upfront account with SGD5 online rebate is still valid until 31 December 2017.

So, you have even lesser chance to use your Maybank KE account?

ShinG3e

For Maybank KE Trade Prefunded Account, what is the best and fastest way to transfer money from a Singapore saving account to the Prefunded Account?

From Maybank Singapore online banking website, I used Payment > Electronic Payment for Shares (EPS) > Lump Sum Payment. If I transfer fund via EPS before 8 pm today, my trading limit will be updated only tomorow. As such, I can only buy share, tomorrow.


It is consistent wth what is stated in the FAQ website - settlement (http://www.maybank-ke.com.sg/contact-us/faqs/ke-trade/).

Is there a way to transfer fund from a Singapore saving account, and then the trading limit will be updated within an hour or so? Thus, we will have more chances to buy the share at a lower price.

Thanks for the advice.

____

On a side note, I made a siliy mistake, when I first tried to buy share on Maybank KE trade website. My Maybank KE Trade Prefunded account is linked to my Maybank iSavvy saving account, via Electronic Payment for Shares (EPS).

I wrongly thought that when I clicked 'buy on Maybank KE trade website, the fund would automaticaly be deducted from my saving account, via EPS. For sure, the share purchase was rejected, due to zero trading limit of my trading account. Yes, it is a silly mistake, but it is a lesson well learnt.

This post has been edited by kart: Aug 3 2017, 07:14 PM

Thanks for the explanation.

This is the information given by the remisier, on how to do FAST transfer.


Recipient’s name : Maybank Kim Eng Securities Pte Ltd
Recipient’s bank account : 040-110-232-02 ( Maybank, Singapore )
Description/ Reference/ Comments : XXXXXXQC

XXXXXX is six (6)-digit trading account number. QC is the code of the remisier.


Through FAST, the fund is transferred to the account of Maybank Kim Eng Securities, instead of directly to our prefunded account. It is a bit weird. If that is not a direct transfer, the remisier or other Maybank KE officers need to verify the source of the fund, before transferring the fund to our prefunded account, resulting in some delay. Well, it should be faster than 1 day, I guess.

Well, I do not really understand why EPS requires 1 day. The fund transfer from our Singapore saving account is done electronically. There should not be any paperwork or application form to be processed manually by a human. Maybe, there are some technicalities which I do not understand.

Alright, you also use EPS.

Your method is better, as it avoids the delay of fund transfer. 0.3 to 0.4 % interest is given for the unused fund in the prefunded account, higher than 0.1875% in iSavvy saving account.

Yeap, same as what is stated here.



Sigh, for Maybank KE trade prefunded account now, we do not have eStatement that states the transactions and the breakdown of the associated fees. Other than the source of the fund, there should not be any difference in Maybank KE trade (cash) account and Maybank KE trade prefunded account. So, how come the customers of Maybank KE trade prefunded account are left out?

Do you get your Contract Notes, via e-mail or post?

This post has been edited by kart: Aug 3 2017, 11:17 PM