Frequently Asked Questions

Payment & Settlement

How can I settle my trades?

There are several options for making payments for your trades.
To view the list of options, please refer here.

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

No, you can only link one bank account to your 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.

How do I get a replacement cheque?

You can contact talktophillip@phillip.com.sg to arrange for a replacement. Please note that a handling fee of S$20 (subject to prevailing GST) will apply.

How do I bank-in or cash a cheque after it has gone stale?

You can contact talktophillip@phillip.com.sg to arrange for a replacement. Please note that an administration charge of S$20 (subject to prevailing GST) will apply.

Are there any charges when I transfer funds from my trading account to my bank account via telegraphic transfer ?

Our Phillip Securities Pte Ltd handling fee is equivalent to SGD 10 (subject to GST). In addition, there will be charges levied by the remitting bank, receiving bank as well as intermediary banks, if any. Please check with your bank for the bank charges.

Are there any charges when I withdraw funds from my trading account to my bank account?

Phillip Securities Pte Ltd (PSPL) does not charge any fee for withdrawal associated with trading activities. For withdrawal request that is not related to trading activities, PSPL will charge a 0.2% processing fee (min. SGD 20) subject to a cap of SGD100 per withdrawal.

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

No charges for fund transfers except for Telegraphic Transfer.