Uncle Lim, you had a RM one million placement in Fixed Deposit before, in Malaysian Bank.

So, your Maybank Singapore iSavvy account should have SG Dollar one million, right?

Just joking, Uncle Lim. No offense intended.

You are an inspiration to us all here.

______
To everyone,

Can we avoid using Electronic Payment for Shares (EPS)? It is very slow, as it requires 1 whole working day before the fund is received by POEMS SG.

For unit trust redemption (sell units to get money), we have no choice but to use EPS, as POEMS SG will use EPS to credit the fund to our savings account.

For fund deposit to POEMS SG, there should be a better and faster way to deposit our fund.

https://www.poems.com.sg/faq-lists/?id=177 has very limited methods for making payments.

Go to How do I pay via Telegraphic Transfer?
https://www.poems.com.sg/helpcentre/PSPLTrustAccounts.pdf

Can we deposit our fund in the following POEMS SG business account via FAST? It is faster, as it is instant. I know that it is meant for Telegraphic Transfer. Maybe, we need to call POEMS SG, to confirm that this method of payment via FAST is acceptable by them, and strongly emphasize to them that EPS is too slow.



For fund deposit to Maybank Kim Eng (Singapore), I will use FAST, not EPS.

This post has been edited by kart: Nov 15 2018, 05:16 AM

Wow

Thank you, will do it now


LOL, sehari sedikit, lama-lama jadi bukit

Dude, I dont have trading account number, as I wasnt a verified user, now I am in catch 22.

cklimm

Uncle Lim, here are some unverified suggestions to solve your problem. Please call POEMS SG, before trying any method. I have not tried any method, so I am sorry that it may not work.

1) Do you have a DBS, OCBC Singapore, or UOB Singapore savings account with access to internet banking website? Bill payment to Phillip Capital may be available in only internet banking website of DBS, OCBC Singapore, or UOB Singapore. Being a smaller bank in Singapore, internet banking website of Maybank Singapore may not have Phillip Capital as a bill payee. Or;

2) Try to ask POEMS SG, whether you can transfer SGD 1.00 via FAST to the following business account of Phillip Capital. I know that this account is meant for Telegraphic Transfer. Mention to POEMS SG that you have no other options to pay SGD 1.00 to POEMS SG (no trading account yet, so cannot use Electronic Payment for Shares).

Worst case scenario, you may have to perform Telegraphic Transfer from your savings account In Malaysia, to the following business account of Phillip Capital.



It is more of trial and error, Uncle Lim. Just try, and please let us know your successful outcome. Good luck, Uncle Lim.

This post has been edited by kart: Nov 16 2018, 04:53 AM

Being old and lazy, unker ended up using FSM Singapore dah, at least the registration process was a breeze.

I remember I left mine empty as at that time I don't have account no.

This post has been edited by Ramjade: Nov 17 2018, 08:58 AM

It is now getting troublesome, a simple "me to me" transfer, Moneymatch and Instarem both asked for my employment detail.

Uncle must be big shark until they questioned you. I never been questioned. Only first time. That time show proof then no more questions.

Another alternative you can try is
1) max money
2) use priority banking
-people say some banks offer you better rates if you can transfer 6 figure per time.

xuzen Hansel Ramjade
Upon knowing that Maybank Kim Eng charges no custodial fee and dividend handling fees,
I decided to moves all my balances there from Poems.

Should I close the poems account, or just leave $1 balance there?

This post has been edited by cklimm: Apr 26 2019, 11:17 PM

Advice you to use Interactive Broker. Can get spot exchange rate. Which means you can deposit say SGD and withdraw out in AUD at rate even cheaper than money changer

If you don't want to kena charged USD10/month use whitelabel (rebranded interactive beoekr) /keep USD100k with them.
Whitelabel selection
- Captrader, zacktrader, tradestation global

Keep poems account. You can use their MMF and earn >1%p.a They have good selection of unit trust too at zero fees.

Hope that helps.

I like their MMF too, but no transaction in every quarter I will kena $16.50 maintenance fee, i dont like to be forced to buy/sell every quarter.

Close down their stock brokerage account and tell them you want account for their UT only. Their UT account does not have any quarterly charges.

Wow, good idea. Thanks dude.

When you do not have priority bankingp privilege (access to higher interest rates), you need to think of ways to get priority banking privilege at via normal people route.

Of course in your case tell them you want to open unit trust account first then only close your stock brokerage.

This post has been edited by Ramjade: Apr 27 2019, 06:19 PM

In response to a post regarding request of link to the S&P 500 index fund feeder on FSM Singapore. (Redirected from here.)

The links are as follow:

INFINITY US 500 STOCK INDEX USD

INFINITY US 500 STOCK INDEX SGD

Both Infinity funds act as a feeder fund for the Vanguard US 500 Stock Index Fund, which is an index fund for the S&P 500.

If you use the "Search FSM" tool on FSM Singapore's webpage and untick every option except mutual fund, you can see other index funds offered by Infinity as well, including European and global index funds.

Kasi up , ramai x tahu

wa this thread so dead compre MY one haha

😂

is this still applicable ? do we have to do it manually via email to fsm sg for UT account only

FSM SG is only good for SG stocks. Nothing else. Do not use their platform to buy unit trust or overseas stocks unless you like to give them free money.