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

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