Frequently Asked Questions
Cash Management (KC) Account
What is Cash Management (KC) Account? How is this different from my existing account?
- Enjoy automatic settlement of trades done if you have sufficient funds in the Cash Management (KC) Account.
- Up to 12 months (year to date) of transaction history is archived online.
- Ability to maintain foreign currencies ledgers.
- Ability to hold cash balances in the account with interest given for certain currencies.
- Invest your excess cash in the Cash Management (KC) Account into Money Market Funds to potentially earn higher returns when you opt for Excess Funds Management Facility.
Can this account hold foreign currencies?
Do I get any interest/return from the credit balance I maintained in Cash Management (KC) Account?
What is Excess Funds Management Facility?
Excess Funds Management Facility is a feature that allows customers to earn returns through the excess funds parked in their trading account. In this manner, the excess funds not used for trading are not left idling and this means your money works 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 is 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). 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?
Is Cash Management (KC) Account chargeable?
- No fees and charges on maintaining or usage of the account.
- No requirement of minimum balances.
What is required to open Cash Management (KC) Account if I am overseas?
Can I open a Joint Cash Management (KC) Account ?
Can I open a Corporate Cash Management (KC) Account?
How long will it take to open an account from overseas?
Can I sell my existing shares through Cash Management (KC) Account?
Can I sell shares allotted through IPO?
Where will the sales proceeds be in after I have sold off my Shares/Unit Trusts using my Cash Management (KC) Account?
How do I place cash into Cash Management (KC) Account?
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 Cash Management (KC) Account, how do I view my available cash balance?
How do I withdraw my money from Cash Management (KC) Account?
You can choose any one of the avenues to withdraw the money from Cash Management (KC) Account:
- 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 Cash Management (KC) Account provide Margin/Financing facilities?
What is the processing time for the online cash withdrawal?
Can I use Cash Management (KC) Account 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.