Frequently Asked Questions
Phillip Cash Management Account (KC)
What is a PCMA? How is this different from my existing trading account?
- Enjoy automatic settlement of Shares, Unit trusts and Treasury Bills if you have sufficient funds in the PCMA
- Up to 12 months (year to date) of transaction history is archived online
- Ability to hold cash balances in the account with interest given for certain currencies
- Potential to earn higher returns if you opt for Excess Funds Management Facility. Invest your excess cash available in the PCMA in Money Market Funds.
- Ability to maintain foreign currencies ledgers.
Can this account hold foreign currencies?
Do I get any interest/return from the credit balance I maintained PCMA?
What is Excess Funds Management Facility?
Excess Funds Management Facility is a feature which clients will be able to earn returns through the excess funds parked into the trading account. In this manner your excess funds not used for trading are not left idling, instead it makes your money work harder for you. The excess funds will be invested on a discretionary basis into Money Market Funds. Currently excess SGD funds will be invested in the Phillip Money Market Fund whereas excess USD funds will be invested in the Phillip USD Money Market Fund.
Phillip Money Market Fund (PMMF) is a stable yielding unit trust fund managed by Phillip Capital Management Pte Ltd. The fund was introduced in April 2001 and they are diversely parked in Singapore government bonds, bills, commercial papers, etc. The fund aims to preserve the principal value and to maintain a high degree of liquidity.
Phillip Money Market Fund is regulated by the Monetary Authority of Singapore (MAS) with Citicorp Trustee overseeing the fund. The fund is fully liquid and available for your withdrawal anytime you want.
How can I check my positions and returns under the Excess Funds Management Facility?
Do I need to pay any fees or charges to maintain PCMA?
- No fees and charges on maintaining or usage of the account.
- No requirement of minimum balances.
What are the requirements to be able to open a Phillip Cash Management account from overseas?
Can I open a Joint PCMA ?
Can I open a Corporate PCMA ?
How long will it take to open an account from overseas?
Can I sell my existing shares through PCMA?
Can I sell those shares allotted through IPO?
I have sold off some of my Shares and Unit Trusts. Will all the payments be consolidated into PCMA?
How do I place cash into PCMA?
Please refer to the list of payment modes available that can be found in the Cash Management Account Information Sheet.
I have made an EPS transfer into PCMA, how do I view my available cash balance?
How do I withdraw my money from PCMA?
You can choose any one of the avenues to withdraw the money from PCMA:
- Submit online withdrawal form via POEMS 2.0 > Acct Mgmt > Stocks > Online Forms.
- Ask your Trading Representative to submit request on your behalf for withdrawal
Does PCMA provide Margin/Financing facilities?
What is the processing time for the online cash withdrawal?
Can I use this PCMA to trade through my remiser?
Yes. You can use the account to trade through POEMS or your designated Trading Representative can place trades on your behalf. The prevailing commission charges applies.
Click here to find out more about Commission Charges.