POSB recently integrated DBS Vickers into their internet banking. I can only say the integration is not very well thought of since new banking/trading account is actually used.
So, instead of holding only onto your POSB savings account and DBS Vickers trading account, you will now have a third account called DBS Vickers-Cash Upfront account. I admit I am at fault too for not reading fine prints and almost got myself into some inconveniences. I made payment to shares I bought through DBS Vickers trading account by doing a fund transfer to my newly created third account. The fund was transferred to my third account instead of DBS Vickers trading account.
I do not see an integration between POSB and DBS Vickers here. Trade done using DBS Vickers platform cannot be settled using the new trading service.
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It's always a little weird to have multiple accounts to deal with things...I've never quite understood the implementation of unnecessary complexity. Hopefully everything will get streamlined.
ReplyDeleteA great post with out doubt. The information shared is of top quality which has to get appreciated at all levels. Well done keep up the good work.
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