Cash Prepaid Account
The Phillip Cash Prepaid Account is a trading account which provides you with the ability to trade shares online based on your available free cash put in the account.
As all securities transacted through this Cash Prepaid Account will be cleared through the Phillip Nominees Account, all share purchases and subsequent sales must also be conducted through this account.
Alternatively, if you do not opt in for the Excess funds Management Facility, the excess funds parked in the account are still interest bearing. All funds in the trading account is held in the Trust account.
Benefits and Advantages
- Reduced commission rates for Singapore and US markets
- Multi-currency ledger to handle different markets
- Saves time – corporate actions, including cash offers, bonus share issues, dividend payouts and share custody are handled by Phillip Securities
Phillip Cash Prepaid Account offers lower brokerage rates across popular markets with the same full broker service enjoyed by all other accounts.
Simply prefund your account to cover your share purchase before placing your order.
Another additional benefit and advantage is that Cash Prepaid Account holders will only have to turn to Phillip Securities to look after all their shareholdings, including Singapore and foreign shares traded via this account. For matters regarding corporate actions (including cash offers, bonus share issues and dividend payouts), you can simply check with Phillip Securities as we are the custodian of your shares.