Frequently Asked Questions
Prepaid (CC) Account
With multi-currency facility, will there be automatic conversion of currency for my currencies in debit balances?
For Cash Management, Custodian, Prepaid, Margin, and Cashplus accounts:
From 26 October 2020, all new accounts will be auto enrolled with this feature. An auto currency conversion process will be performed at 7.15pm based on prevailing rates to offset any currency in debit balance by utilizing currencies in credit balance according to currency hierarchy set up in our system. The hierarchy of currencies to be utilized for offsetting in descending order: SGD, USD, HKD, CNY, JPY, AUD, GBP, EUR, CAD, & MYR.
To opt in/out from this facility, please contact your Trading Representative.
For trading accounts that are not opted in for the above feature, clients 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.
Other faq that might help you
- Information Sheet
- Can I get ‘leveraging’ facility from this account type?
- Can I sell the SGX listed shares which I have in my CDP account?
- Can I trade CPF/SRS shares?
- Can I transfer my existing shares held in another brokerage to this account?
- Can the foreign share custody fees be waived?
- Can the quarterly maintenance charge be waived?
- What are the charges for this account?
- What are the commission rates for Prepaid (CC) Account?
- What are the methods to transfer money into Prepaid (CC) Account?
- What if I close my open position before the due date?
- What is the buying limit for Prepaid (CC) Account?
- What is the credit interest paid on the cash placed in the Prepaid (CC) Account?
- When can I expect funds to be credited into my Account after I have sold my shares?
- When will my account be debited for my share purchases?
- Where are the shares kept in Prepaid (CC) Account?
- Which market can I trade with Prepaid (CC) Account?
- With multi-currency facility, will there be automatic conversion of currency for my currencies in debit balances?
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