15-05-2020, 07:34 AM
(15-05-2020, 01:15 AM)Mushy Wrote: Regarding payment for the rights shares/MCB, SIA listed 2 methods for payment; ATM or Paynow.
What if a shareholder has the money in a local bank account but does not have ATM card or paynow?
I have been stressed today cos I am trying to solve this problem for a senior family member.
I explored the option of paying on behalf of family member but the banks I use (OCBC and citi) seem to have a limit for paynow of 1k.
I cannot use my ATM card to pay right, as the rights can only be seen using the rights registered owner's ATM account?
Also for curiosity, DBS paynow has a limit of 200k. I am sure there are shareholders (other than temasek) who are subscribing to more than 200k worth. How they pay man?
There is a third option...… Buying a Cashier Order and submitting it together with the ARE form (Application for Rights and Excess). In your case, this appears to be the only option.