Frequently Asked Questions
Auto Currency Conversion
Which multi-currency status am I enrolled into?
All new accounts opened from 26 October 2020 with multi-currency facility will be auto-enrolled to “Auto Offset”. The following table shows the different scenarios where currency conversions will take place based on the type of status in the account:
| Cash Plus Account | Margin Account | Cash Management Account | Prepaid Account | Custodian Account | |
| Auto Offset | All deficits will be offset with currencies in credit balances* | ||||
| No Auto Conversion | Only MYR deficits will be auto-converted |
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| No Multi-Currency | All balances in foreign currencies will be auto-converted to SGD | ||||
| Share Financing Account | |
| Yes | Only deficits caused by withdrawals, subscriptions, fees and charges will be auto-converted* |
| No | All balances in foreign currencies will be auto-converted to SGD |
The hierarchy of currencies in credit balance to be utilized for offsetting in descending order: SGD, USD, HKD, CNY, JPY, AUD, GBP, EUR, CAD, & MYR
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