Frequently Asked Questions
Cash Plus Account
How are my Total Asset Value (AUC) calculated?
Total Asset Value is calculated based on clients’ credit balance, value of shares and bonds in the Cash Plus Account.
Debit balance will not be deducted from the value of clients’ credit balance, value of shares and bonds to determine Total Asset Value.
1) When a client has S$150,000 in Shares in his Cash Plus Account and S$100,000 credit balance, he will be deemed to have a total asset value of S$250,000.
2) When a client has S$250,000 in credit balance in his Cash Plus Account, he will be deemed to have a total asset value of S$250,000.
3) When a client has S$250,000 in Shares in his Cash Plus Account and S$100,000 debit balance, he will be deemed to have a total asset value of S$250,000.
When will Custody fees be charged?
Custody fees consists of Account Maintenance Fee and Foreign Share Custody Charges that are deducted on January, April, July and October, based on three-month average Total Asset Value, prior to those deduction months.
For new account that does not have a full three-month average, daily average of Total Asset Value will be used starting from account opening date.
For converted account that does not have a full three-month average, daily average of Total Asset Value will be calculated starting from conversion date.
How do I know if I am qualified for Dividend Handling Fee (SGX) waiver?
Dividend Handling Fee will be waived for Total Asset Value of SGD250,000 and above, based on the previous end of day’s settled Total Asset Value held in your Account in custody with Phillip Securities Pte Ltd (PSPL).
How do corporate actions affect the brokerage rates and Dividend Handling Fee for my Account?
In the event of a corporate action, only the value of remaining shares and cash in your Account will be included in the Total Asset Value for determining your brokerage rate and Dividend Handling Fee (SGX).
Can I buy shares using my CPF or SRS funds?
Yes. The Cash Plus account will need to have sufficient Available Cash before you may place a buy trade. Please refer to Section 3(A) of the Cash Plus Account Information Sheet for more details.
Do note that shares settled with your CPF or SRS monies will not be included in the computation of your Total Asset Value.
Which Accounts are eligible to convert to Cash Plus Account?
All custody accounts, namely Prepaid (CC) Account, Custodian (C) Account, Margin (M) Account are eligible for conversion. There is a limit to the number of times you can do the account conversion.
What is the minimum age to open a Cash Plus Account?
Anyone who is 18 years old and above can open the Account.
However, margin facility will be made available upon request for customers above 21 years old.