Phillip Investment Account – Custodian (C)

For easy settlement of purchases, pre-payments may be placed into the account. Deposits may be made through EPS / Internet Banking Bill Payment.

Settlement of Purchase Contracts:
Purchase Contracts will be settled on the Contract Due Date. There will be no partial settlement. Therefore, a full default in settlement will occur if there are insufficient funds in the account.

Settlement of Sale Contracts:
Settlement of Sale Contracts will be performed on Contract Due Date + 1 day, and the sale proceeds will be credited into the Phillip Investment Custodian Account (provided you have sufficient shares to deliver).

Settlement of Contra Gains/Losses:
Contra Gains are credited into the Phillip Investment Custodian Account on Contra Note Date + 1 day. Contra Losses will be debited from the Phillip Investment Custodian Account on Contra Note Date + 1 day if you maintain sufficient funds in the trading account.s

Custody of Shares:
All shares traded through the Phillip Investment Custodian Account (shares in SGX as well as Foreign Shares) will be held in custody with Phillip Securities Pte Ltd on terms as set out in the Conditions Governing Phillip Securities Trading Accounts.

Multi-currency Facility
Account holders have the option to opt for Multi-currency facility.
For foreign currency denominated contracts, settlement will take place in the traded currency or SGD. Respective currency accounts should have sufficient funds to avoid incurring interest on debit balances. Please refer to our Infosheet on the applicable debit interest rates.

Monthly Statements
There are 2 types of statements sent to you:

  1. Statement reflecting monthly transaction movements and balance in the trading account
  2. Statement of transaction for equity trading (if there are any trades done)

If there is no transaction done in the trading account, a quarterly statement will be issued instead.

You may also view your current and previous month’s transaction history and account details up to 12 months year-to-date through POEMS.

Enroll in eStatements today to enjoy greater convenience of viewing your statements on the go and save the environment! Click here to find out more.

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