Frequently Asked Questions

 – Prepaid (CC)

Are there any charges for transferring money into or out of the trading account?

No charges for fund transfers except for Telegraphic Transfer.

Can I get ‘leveraging’ facility from this account type?

No. If you wish to have ‘leveraging’ facility, you can consider opening a Phillip Investment Margin Account. Please note that the commission rate for Prepaid and Margin account is different. For more information, please view Phillip Investment Margin Account.

Can I sell the SGX listed shares which I have in my CDP account?

You will need to transfer the shares from your CDP account into your account with Phillip Securities before you can sell it.

Can I trade CPF/SRS shares?

No, CPF/SRS shares cannot be traded in the Prepaid account.

Can I transfer my existing shares from my Phillip Account to this account?

Yes, however an administrative charge of SGD$50 (before GST) applies for each counter transferred.

Can I transfer my existing shares held in another brokerage to this account?

Yes. We do not charge for incoming transfer.

Can the foreign share custody fees be waived?

Yes, we will automatically waive the monthly charges if you have at least two trades in your account for the month, regardless of trade size and whether you trade local or foreign shares in that account.

Can the quarterly maintenance charge be waived?

Yes, as long as a minimum of 1 trade (regardless local or foreign and regardless of trade size) is performed in the Prepaid Account in the quarter. Quarterly trading activity is assessed at the end of March, June, September and December.

What are the charges for this account?

Please refer to Phillip Cash Prepaid Infosheet.

What are the commission rates for Prepaid account?

Commission rates vary depending on the markets and trading modes used to execute the orders. Please click here to view the commission rates.

What are the modes of putting money into Prepaid account?

Account can be funded via cash, cheque, EPS, bill payment, internet banking or telegraphic transfer.

What if I close my open position before due date?

The buy and sell contracts will settled by debiting and crediting your account accordingly.

What is the buying limit for Prepaid account?

The buying power is based on the amount of available cash in the account. There is no minimum deposit requirement. Buying power is restored immediately once the sell order is filled. The available cash takes into consideration outstanding purchase and sale contracts.

What is the credit interest paid on the cash placed in the Prepaid account?

Please refer to Cash Prepaid Account Information Sheet

When can I expect funds to be credited into the Phillip Account after I have sold my shares?

Sale proceeds will be credited into your Phillip Account on due date.

When will my account be debited for my share purchases?

Your account will be debited on due date.

Where are the shares kept in Prepaid account?

Any shares purchased via this account will be held under the custody of Phillip Securities.

Which market can I trade with Prepaid account?

You can trade all markets offered by Phillip Securities. Please click here for more information.

With the multi-currency facility, will there be automatic conversion of currency for trade settlement?

Please take note that there will not be any auto currency conversion for trade settlement in the trading account, customer have to take the necessary steps to either transfer money into the trading account or perform a currency conversion to settle the trades.

Click here to find out more about Multi-Currency facility and currency-conversion feature.