Frequently Asked Questions
Payment & Settlement
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.
Other faq that might help you
- How can I settle my trades?
- How do I apply for EPS Linkage service to link up my EPS account with my Account?
- Which bank account can I use for the EPS Linkage?
- Can I link more than one bank account to my Account?
- How do I make payment via EPS after the linkage is activated?
- What is the cut-off time for making EPS fund transfers?
- When are the shares bought due for delivery?
- When does payment have to be made for shares bought?
- What happens if I fail to pay or contra the purchase by due date?
- Can I make partial payment for my shares bought?
- When must I make payment for contra-loss?
- Can my contra-profits of Stock A be used to net-off losses from Stock B?
- What is the settlement currency for purchases of non-S$ denominated stocks?
- What is the conversion rate for non-S$ denominated trades?
- Can the settlement still be in S$ if I have opt to settle in the traded currency earlier?
- How do I get a replacement cheque?
- How do I bank-in or cash a cheque after it has gone stale?
- Are there any charges when I transfer funds from my trading account to my bank account via telegraphic transfer ?
- Are there any charges when I withdraw funds from my trading account to my bank account?
- Are there any charges for transferring money into or out of the trading account?
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