Frequently Asked Questions

Sales Proceeds

I have sold some shares, how do I know how much are my sales proceeds?

If you are checking the sales proceeds for recent trades, please go to Stocks >> Acct Mgmt >> Outstanding Position or Settled Position. If you are checking for previous months’ sales proceeds, please go to Stocks >> Acct Mgmt >> Transaction History.

When will I receive my sales proceeds?

Sales proceeds will be credited back to your Phillip Account (or your designated bank account for non-ledger based accounts e.g. Cash Trading accounts) one day after the due date.

I have already provided my bank account number for the EPS linkage, will the sales proceeds be credited directly to my bank account?

For ledger based account(PCMA, Cash Prepaid, Custodian, Margin & Share Financing), the sales proceeds will be credited to your trading account. To view the details of the sales proceeds, please login to POEMS, go to Stocks >> Acct Mgmt >> Account Details >> Available Cash. For non-ledger based account(Cash Account), the sales proceeds will be credited directly to your bank account under our records.

Why is my sale proceeds placed in available cash and not returned to my bank account?

This is a feature for ledger based account(PCMA, Cash Prepaid, Custodian, Margin & Share Financing) where these accounts provide ledger facility for you to manage your cash in your trading account.

This available cash can be used to settle your future trades automatically. No further settlement instruction is required so long as you ensure sufficient funds available for the settlement.

You can also withdraw the available cash anytime; there is no lock-in period or additional fees for the withdrawal.

How do I withdraw the money?

Please login to POEMS and go to Stocks >> Acct Mgmt >> Online Forms.

You will need to indicate the amount you wish to withdraw and which bank account you want the funds to be credited into.

The cut off time for submitting the online withdrawal form is 10am on workdays. If you submit the request before 10am, the fund will be credited into your bank account on the same day or one working day later. (Time varies, depending on bank)
If you submit the request after 10am, the money will be credited into your bank account one to two working days later. (Time varies, depending on bank)

Note: Please refer to FAQ > Trading > Payment & Settlement > Currency Conversion for client with Multi Currency Facility for more information on auto-currency conversion when a debit balance occurs in a currency resulting from a withdrawal.