ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S. › ValueBuddies.com › Economic News v
New electronic funds transfer service allows quick interbank transfers

New electronic funds transfer service allows quick interbank transfers

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
egghead Offline
Senior Member
****
Posts: 692
Threads: 1
Joined: Dec 2010
Reputation: 7
#11
23-03-2014, 12:01 PM
My experience - if I make EPS payment on T+3, my broker will only receive the next day, T+4. For FAST, the moment I transfer, it is immediately reflected in my destination account.
Find
Reply
Temperament Offline
Posting Freak
*****
Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation: 17
#12
23-03-2014, 05:04 PM
High time for us to have this service FOC! i have tried it. Wonderful! If only they(banks) allow the transfer amount increases to $25000.0 per account. Then we all can use less other banking services. It's no very good for their chargeable banking fees, isn't it? i think that's why it take so..........o long for this service to reach us.
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Find
Reply
CityFarmer Offline
Moderator
*****
Posts: 9,841
Threads: 711
Joined: Mar 2012
Reputation: 64
#13
23-03-2014, 09:05 PM (This post was last modified: 23-03-2014, 09:09 PM by CityFarmer.)
(23-03-2014, 12:01 PM)egghead Wrote: My experience - if I make EPS payment on T+3, my broker will only receive the next day, T+4. For FAST, the moment I transfer, it is immediately reflected in my destination account.

Yes, the experience is true. I have mistaken the transfer effective timing.

Anyway, it makes no different to me, I always pay on the T+1, once the contract is updated into the contract table.

-----------------
From DBS website on EPS

For EPS made before 2130 hours (Singapore Time), your broker will receive payment on the next working day. For EPS made after 2130 hours (Singapore Time), your broker will receive payment 2 working days later (for Friday, Saturday, Sunday and eve of public holidays, your broker will receive payment on the next working day regardless of the time of transaction).

Ref: http://www.dbs.com.sg/personal/ibanking/...fault.page
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
Find
Reply


Forum Jump:


Users browsing this thread: 4 Guest(s)