facebookAbout terminating DBS Invest Saver? - Seedly

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Anonymous

12 Dec 2019

Stocks

About terminating DBS Invest Saver?

Eg. I have been investing $100 monthly and have accumulated 1000 units in Nikko AM STI ETF.

  1. I would like to stop this monthly investment. Going by the FAQs, does this means I have to terminate my Invest-Saver Plan?
  2. If I did the termination + selling the current units I have. If I were to re-use the Invest Saver in the future again, do I need to go through the whole procedure of re-registering or can I reuse/ reactivate the current plan I had?

Discussion (4)

What are your thoughts?

Kenneth Lou

Kenneth Lou

11 Dec 2019

Level 14·Co-founder at Seedly

From the Burrow community...

1. Yes that is correct

2. Two scenarios here:

  • If you have sold your units and terminated your Invest Saver Plan, then yes you'll have to re-register and start a new Regular Savings Plan again.

  • If you terminated your Invest Saver Plan and did not sell your holdings, you will have the option to reactivate your Invest Saver plan again.

1) Yes, you will have to terminate the monthly Regular Savings Plan in order to stop the monthly investment. Steps are as follows:

  1. Invest

  2. More Investment Services

  3. View or Delete Monthly Savings Plan

  4. Select your investment account

  5. There will be an option to stop the plan

2) You can simply reuse the same investment account and setup new deposit instructions for new investments in the future.

Edit

With reference to Kenneth's post, the best answer for this is as follows:

  • If you have sold your units and terminated your Invest Saver Plan, then yes you'll have to re-register and start a new Regular Savings Plan again.

  • If you terminated your Invest Saver Plan and did not sell your holdings, you will have the option to reactivate your Invest Saver plan again.

  1. Yes, you have to terminate your invest saver plan, just amend the RSP amount to $0. But a point t...

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