Nov 15 2025, 09:50 PM
QUOTE(Ramjade @ Nov 15 2025, 08:09 AM)
No once transfer to CDP you need a sg bank account to receive payment. You need a CDP account first.
Just to hark back your post in another topic earlier, to get a DBS saving account, I must open a Vickers account. However, as what you just mentioned, I will need a CDP account first which also mentioned in Vickers website "Please click here to open a CDP account online before proceeding to open a DBS Vickers online trading account." and to apply for a CDP account, I will need a Singapore bank saving account. Wouldn't I stuck in a catch-22 situation? QUOTE(Hansel @ Nov 15 2025, 02:12 PM)
If he has. DBSV acct., this means he has a CDP Acct… To open a CDP Acct, he must have a Savings or more acct in one of 5 banks. He will have to opt for a DCS - Dividend Crediting Service with the SGX, and in this activity, nominate an acct for the dividend to be credited into.
After the above has been done, the dividend from DBS will be credited into the nominated bank acct…
The dividend cannot be credited into MooMoo SG after the shares have been transferred to CDP.
There is no charge at CDP’s end for transferring shares into CDP, but that was what I experienced. Not too sure abt MooMoo’s charges.
Hoped the above lengthy reply addresses all questions in the posting.
I do not have a DBSV account now but wish to have 1 together with a saving account with DBS in near future.After the above has been done, the dividend from DBS will be credited into the nominated bank acct…
The dividend cannot be credited into MooMoo SG after the shares have been transferred to CDP.
There is no charge at CDP’s end for transferring shares into CDP, but that was what I experienced. Not too sure abt MooMoo’s charges.
Hoped the above lengthy reply addresses all questions in the posting.
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Do you use Vickers exclusively for stocks in SGX or you also rely on other brokers to buy Singapore stock?
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