Frequently Asked Questions

 – Custodian (C)

Can I contra my trades?

Yes.

Can I open a corporate Phillip Investment Custodian Account?

Yes.

Can I open a joint Phillip Investment Custodian Account?

Both applicants must be above the age of 21 years old in order to open a joint Phillip Investment Custodian Account.

Can I sell my existing shares through the Phillip Investment Custodian Account?

No. You would have to transfer the shares into the Phillip Investment Custodian Account before you can sell them.

Can I sell those shares allotted (IPO Shares) through the Phillip Investment Custodian Account?

No. You would have to transfer the IPO shares into the Phillip Investment Custodian Account before you can sell them.

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 Phillip Investment Custodian Account in the quarter. Quarterly trading activity is assessed at the end of March, June, September and December.

How do I transfer the shares into my Phillip Investment Custodian Account?

You can transfer the shares by signing the relevant share transfer forms. Please contact your trading representative for a copy of the form.

How long does it take for shares to be transferred into my account?

It will take around two working days for the shares to be transferred into your Phillip Investment Custodian Account.

How long does it take to start an account?

Your Phillip Investment Custodian Account will be ready for trading within five working days from the day we receive your completed application, if it is approved.

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

The time it takes to open an account from overseas depends on the postage time required to send the forms to you and for you to return the completed forms back to us. Once the account is opened, we will send the Internet password via mail to you. The whole account opening process may take approximately two weeks or more.

What are the charges for this account?

Please refer to Investment Custodian Account Infosheet.

What are the requirements to open a Phillip Investment Custodian Account from overseas?

To open a Phillip Investment Custodian Account from overseas:
  1. You need to be 21 years old and above to open an account with us.
  2. Your account opening documents need to be certified by a public notary, commissioner of oaths, or judicial officer.
  3. You must not be blacklisted with the Singapore Exchange (SGX) or with any other securities firm or have any delinquent account with any other securities firm.

Who can open a Phillip Investment Custodian Account?

Those who wish to open a Phillip Investment Custodian Account must be above the age of 21 years old and must not be blacklisted or found to be delinquent by the Singapore Exchange (SGX) or other securities firms.

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

Please take note that there will not be any automated currency conversion for trade settlement in the trading account. Customers are required to take the necessary steps to either transfer money into the trading account or submit a currency conversion request to avoid being charged debit interest.

Please refer to the Custodian Account Information Sheet for more details.