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Phillip Cash Management Account (KC)

Information Sheet

What is a PCMA? How is this different from my existing trading account?

PCMA is a ledger based account, that has the ability to hold money in the account at anytime. Clients will enjoy automatic deduction or crediting for trades done in Stocks, Unit Trusts, Treasury Bills and more. Trade purchases will be settled as long as you have sufficient funds in the account; this applies to the crediting of the proceeds after a sale is done. There are no changes in the way you perform your trades and no minimum balance is required to be maintained in the 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?

Yes, this account has the option to maintain foreign currency balances. Please refer to the Cash Management Account Information Sheet for more information. With this, you have the flexibility to retain your foreign cash proceeds in their respective currencies. Moreover, if you have SGD in the account and would like to invest in a foreign currency denominated stocks, you can easily convert your SGD to offset any debit balances denominated in foreign currencies.

Do I get any interest/return from the credit balance I maintained PCMA?

Please refer to the FAQ below on Information Sheet.

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?

Upon login to your Phillip Account, you may view your monthly positions and returns from Acct Mgmt > Stocks > Transaction History.

Do I need to pay any fees or charges to maintain PCMA?

We are pleased to offer this account with:-
  • 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?

1. You need to be 18 years and above to open an account with us.
2. Your account opening documents would need to be certified by a Notary Public, Commissioner of Oaths, Justice of Peace, advocate, solicitor or judicial officer.
3. You are not blacklisted with the Singapore Exchange (SGX) or with any other securities firm nor have any delinquent account with any other securities firms.

Can I open a Joint PCMA ?

Yes. However, the joint applicant must be above the age of 18 years old and both the main and joint applicants must first open a joint CDP account at Central Depository Pte Ltd (CDP). No joint application if you are below 18 years old. The joint CDP account can be opened at our Phillip Investor Centres(PICs).

Can I open a Corporate PCMA ?

Yes. However, you must have a corporate CDP account with Central Depository Pte Ltd (CDP).

How long will it take to open an account from overseas?

The time it takes to reach you will depend on the postage time taken to send the forms over to you and for you to send the completed forms back to us. Account opening will take at least 2 weeks upon receiving the completed application forms. Passwords will be sent out via normal mail according to the mailing address registered with Phillip Securities.

Can I sell my existing shares through PCMA?

Yes, Singapore shares held in CDP directly under your name can be sold through PCMA. Foreign shares bought through other securities houses must be transferred to the PCMA first before you can sell through it.

Can I sell those shares allotted through IPO?

Yes, you can sell shares allocated through IPO The shares listed on SGX will be credited into your CDP account. Once the shares have been allocated, clients can sell through their PCMA.

I have sold off some of my Shares and Unit Trusts. Will all the payments be consolidated into PCMA?

All sales proceed for Stocks or Unit Trust will be placed into the PCMA account.

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?

If the EPS has been made before 9pm, the funds will be credited to your PCMA on the next business day ready to be used for trade settlement. You can view this fund transfer on "This Month's Transaction" two working days after the EPS fund transfer is made. To view your cash balance, simply login to POEMS 2.0 > Acct Mgmt > Stocks > This Month's Transaction.

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?

No, PCMA is non-financing and you are only allowed to trade up to your assigned trading limits or the amount of funds placed into the PCMA, whichever is higher.

What is the processing time for the online cash withdrawal?

When you submit the online withdrawal request via POEMS 2.0 > Acct Mgmt > Stocks > Online Forms before 10am, the funds will be available in your bank account on the next working day.

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.

If I have an existing Cash Account with Phillip Securities, can I convert it to Phillip Cash Management Account?

Conversion can be done online via POEMS, under STOCKS > ACCT MGMT > Online Forms or a conversion form can be mailed to us. Cash trading account with existing GIRO facility has to be terminated before we can process the conversion to PCMA.