Frequently Asked Questions

Payment & Settlement

How can I settle my trades?

Here are the options for making payments for your trades:

  1. Electronic Payment for Shares (EPS)
  2. GIRO
  3. Cheque
  4. Cash at cashier at Phillip Securities Pte Ltd, 250 North Bridge Road, #06-00 Raffles City Tower (Monday to Friday, 9am to 5:30pm, closed on Saturdays, Sundays and Public Holidays. NETS or credit card not accepted. Payment are also not accepted at other Phillip Investor Centres)
  5. Internet Bill Payment via POSB/DBS bank, UOB bank, OCBC bank, Standard Chartered bank & Maybank: Please enter 7 digits of your trading account number under billing reference number e.g. trading account “123456”, please enter “0123456”.
  6. Telegraphic Transfer: Please provide your bank with our bank account details here. Please also indicate your trading account name and account number on your payment details to ensure that funds received will be correctly credited into your trading account.

How do I pay via Electronic Payment for Shares (EPS)?

You can apply for Electronic Payment for Shares (EPS) linkage to link up your Phillip Account with your bank account to facilitate payment. To download the application for EPS linkage, please click here.

After your EPS linkage is activated, you can make fund transfers via ATMs or via internet banking (EPS).

Note: Fund transfers made before 9pm will be credited into your account the next working day.

How do I pay via GIRO?

Yes, you may use GIRO for payment. For more information, please click here.

How do I pay via cheque?

Our Phillip Investor Centre accepts cheque deposits to support the following:

  1. Settlement of Contracts (except for overdue, force-selling and futures contracts and CFD margin call)
  2. Top-up / Payment (except for overdue, force-selling and futures contracts and CFD margin call)

Cheque deposit is available from Monday to Friday, 9.00am to 6.00pm (except public holidays). Cheques will be collected and dispatched back to Headquarter by the end of the next business day.

  • For Securities Financing (Phillip Financial Pte Ltd) account, cheque should be made payable to Phillip Financial Pte Ltd
  • For other accounts (except for futures accounts), cheque should be made payable to Phillip Securities Pte Ltd

Cheque has to be deposited on or before the due date. For settlement beyond due date, please proceed to the Cashier counter located in our main office:

PhillipCapital
250 North Bridge Road,
#06-00, Raffles City Tower
Singapore 179101

Please note:

  • Please indicate your trading account number, details of payment (eg: contract number), name of account holder and contact number on the back of the cheque.
  • SGD cheques and USD cheques must be drawn from a bank in Singapore with Local (Singapore) clearing.
  • MYR cheques must be drawn from Malaysia.
  • HKD cheques must be drawn from a bank in Hong Kong and a courier fee of S$21 applies.
  • USD, MYR and HKD cheques must reach Phillip on T+2.
  • We regret to inform that we DO NOT accept cheques other than the above currencies.
  • For payment in other foreign currencies, it can only be done via Telegraphic Transfer.

How do I pay via Internet Bill Payment?

You can also make payment using Internet Bill Payment via POSB/DBS bank, UOB bank, OCBC bank, Standard Chartered bank & Maybank.

Please enter 7 digits of your trading account number under billing reference number e.g. trading account “123456”, please enter “0123456”;

Note:
Internet Bill Payment fund transfers takes two working days before it is credited into your account. Please check with your respective banks for actual cut-off timing and location of the Bill Payment function.

*Please note that Citibank bill payment may take 5-7 working days for us to receive your payment.

How do I pay via Telegraphic Transfer?

You can also make payment by Telegraphic Transfer (TT) if your funds are currently deposited with an overseas bank. TT fund transfers are allowed for SGD, USD, HKD, JPY, MYR, AUD, GBP, EUR, CAD & CNY.

Do note that the banks may levy bank charges for each TT fund transfer made, please check with your bank for the respective charges. Phillip Securities does not charge any fees for incoming TT fund transfers.

You will need to provide your bank with our bank account details for Telegraphic Transfer. Please click here for TT details.

Please also indicate your trading account number and account holders' name(s) on your TT payment details to ensure that funds received will be correctly credited into your Trading account.

As TT fund transfer may take up to a week to be successfully transferred, do check that the funds are already credited into your account or speak to your trading representative for enquires on status of transfer.

In the event that PSPL is unable to identify the account for the amount to be credited, PSPL may reject the amount transmitted after reasonable endeavours have been made to trace the source of the deposit.

Any bank charges incurred during the course of event will be borne by the client. If you are topping up account to pick up your outstanding shares, please ensure that we received your funds before/on due + 1 day.

Please note that we will not be held responsible for any loss, charge or damage arising from the rejected fund or delay in crediting the amount into the account.

How do I apply for EPS Linkage service to link up my EPS account with Phillip Account?

To apply for EPS linkage, please mail in a copy of the Application Form for EPS (Electronic Payment for Shares) to: Phillip Securities Pte Ltd 250 North Bridge Road #06-00 Raffles City Tower Singapore 179101 Do note that EPS linkage activation takes 3-4 weeks to be effected. In the meantime, you can continue to do your trading but please make payment using cheque or internet bill payment.

Which bank account can I use for the EPS Linkage?

You can use a bank account from the following participating banks for the EPS Linkage – DBS, POSB, UOB, OCBC, Citibank, Maybank.

Can I link more than one bank account to my Phillip Account?

No, you can only link one bank account to your Phillip Account at any one time.

How do I make payment via EPS after the linkage is activated?

After the EPS linkage is activated, you may make payment at any of the bank’s Automated Teller Machine (ATM) or using the bank’s internet banking system.

For cash accounts, you may select payment by "Contract" up to due date or pay by "lump sum".
For ledger-based accounts, you may only select payment by "lump sum".

What is the cut-off time for making EPS fund transfers?

The daily cut-off time for making EPS fund transfers is 9pm. For DBS, POSB, UOB and OCBC account holders, the arrangement is straight-forward. If the EPS fund transfer is made before 9pm, PSPL will receive the funds the next work day. For Citibank account holders, if the EPS fund transfer is made before 9pm from Monday to Saturday, PSPL will receive the funds the next work day. If the EPS fund transfer is made after 9pm on a Saturday, or anytime on a Sunday, or anytime on a Public Holiday, PSPL will receive the funds two work days later. Example 1 (For Citibank EPS linkage) EPS fund transfer made before 9pm on Saturday, PSPL will receive the funds one work day later (Monday). Example 2 (For Citibank EPS linkage) EPS fund transfer made after 9pm on Saturday or EPS fund transfer made anytime on Sunday, PSPL will receive the funds 2 work days later (Tuesday). Example 3 (For Citibank EPS linkage) EPS fund transfer made anytime on a Public Holiday, PSPL will receive the funds two work days later

What happens if I fail to pay or contra the purchase by due date?

If you fail to pay or contra (i.e. sell) your purchase by due date, your purchase may be forced sold by the company at its discretion without notice to you. Phillip Securities has the discretion as to the price, volume put up for force sell at any time. Phillip Securities is not liable to you for any loss or damage arising out of the exercise of its discretion; and the company may recover from you the losses and expenses incurred in the force sell. Client(s) who are subject to force-selling by Phillip Securities may be suspended from trading for a period as determined by Phillip Securities. For more details on purchase due date, kindly refer to the settlement for the relevant financial market.

Can I make partial payment for my shares bought?

No. It is PSPL policy to require the client to make full payment on or by the Due date (“D Date”) for purchase of securities or contract(s). Client is not permitted to undertake partial pick-up on the day of force-selling for due unsettled contracts.

When must I make payment for contra-loss?

Contra losses must be settled WITHIN 7 calendar days (or 1 week) from the statement date.

Can my contra-profits of Stock A be used to net-off losses from Stock B?

Yes, contra-profits will nett-off any outstanding losses.

What is the settlement currency for purchases of non-S$ denominated stocks?

All settlement will be in S$ unless standing instructions have been given to your Trading Representatives prior to or on the date of transaction before 5.00pm.

What is the conversion rate for non-S$ denominated trades?

At a prevailing rate of exchange determined by PSPL.

Can the settlement still be in S$ if I have opt to settle in the traded currency earlier?

Yes, you may still make payment in S$ if you have opted to settle in the traded currency earlier. Do note that the conversion rate will be based on the prevailing exchange rate on the day of the amendment.

Currency Conversion for client with Multi Currency Facility

Multi-Currency Facility is an added advantage for you to maintain foreign currency balances (USD, HKD, AUD, MYR, JPY, GBP, EUR, CNY and CAD) in your account for ease of trading and efficient management of your foreign currency denominated investments. Settlement for these shares can either be in the traded currency or in SGD. However, your account must have sufficient funds in the settlement currency to avoid incurring interest on debit balances.

To opt-in, login to POEMS > Click Stocks > Acct Mgmt > on the left panel, click Online Forms > Currency Conversion > select Opt in for Multi-Currency facility > Submit and input your POEMS password to confirm your submission.

Auto Currency Conversion Feature 

In the event the ledger runs into deficit, arising from below transactions carried out on that day, auto-conversion will take place.

Transaction / Account Type

PCMA & Custodian

Margin

1)Withdrawal of Money 2)Fees & Charges 3)Right Subscriptions

All Ledgers

MYR Ledger only

1)Purchase Contract 2)Contra Loss

MYR Ledger only

The auto currency conversion feature is not applicable to the following transaction types:

  1. Settlement of purchase contracts.
  2. Settlement of contra losses.

For such transactions, client will need to login to POEMS > Stocks > Acct Mgmt > Online Forms > Currency conversion to submit the currency conversion accordingly.

Please be reminded that auto currency conversion does not apply to Cash trading, Investment Margin and Securities Financing account.