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 investing in index fund

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kl98
post Jan 9 2018, 09:51 AM

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QUOTE(wongmunkeong @ Sep 13 2016, 04:28 PM)


Note 2 - i opened my a/c online + email only, then funded via MY bank transfer to TDAmeritrade US.

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i'm confused. so you opened an account with TDameritrade asia but was able to transfer to tdameritrade US? how does that work?
kl98
post Jan 9 2018, 10:43 AM

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Joined: Aug 2008
QUOTE(wongmunkeong @ Jan 9 2018, 10:22 AM)
1. My account was opened with TDAA (TDAmeritrade Asia), now TDASG, is a nominee brokerage account

2. TDASG is "held" by TD Ameritrade (TDA) https://www.tdameritrade.com/home.page
and
TDA's bank account with Wells Fargo Bank is under TD Ameritrade Clearing Inc.

3. Thus, when i transfer from my MY bank, i transfer to
a. Wells Fargo bank
b. into TD Ameritrade Clearing Inc account with Wells Fargo
c. specifying the Beneficiary as me with my account number with TDASG
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Awesome thanks. How much does the custodian/correspondent bank charge you for TT clearing? I know maybank charges RM10 for TT but when i transfer to the US, their bank over there also charges a fee even though the brokerage themselves do not charge a fee. I hope this is clear. Thanks.
kl98
post Jan 9 2018, 11:08 AM

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QUOTE(wongmunkeong @ Jan 9 2018, 10:52 AM)
Clearing charges by receiving bank = USD20 per transaction.
Comparatively painful for miserable MYR to USD transfer  sweat.gif

FYI - previously, with OptionsXpress, i was being charged USD25 per transaction.
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IKR, i just sent some to vanguard and the clearing charged me USD23. i was hoping that TD asia will receive funds in SGD but unfortunately not. TT fees to singapore would likely have been cheaper than to the US.
kl98
post Jan 9 2018, 11:11 AM

Getting Started
**
Junior Member
58 posts

Joined: Aug 2008
QUOTE(wongmunkeong @ Jan 9 2018, 10:52 AM)
Clearing charges by receiving bank = USD20 per transaction.
Comparatively painful for miserable MYR to USD transfer  sweat.gif

FYI - previously, with OptionsXpress, i was being charged USD25 per transaction.
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btw, any idea if we need to file the 1099 as well if we already declared non resident alien with w8ben?
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