Anonymous

27 Oct 2020

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General Investing

Forex questions on purchase of an USD-denominated ETF on LSE via Standard Chartered?

For purchase of an USD-denominated ETF (ie CSPX) on LSE via Standard Chartered:
1) I have both a GBP and USD settlement account in Standard Chartered investing account. To minimise exchange costs, I should transfer to the USD-denominated account to purchase shares directly in USD right?

2) How do I minimise the exchange costs? Via using transferwise? Which banks does not charge wire transfer fees for transferring to transferwise? Does SCB equity acct charge fees for receipts from transferwise?

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Wrong Sean

27 Oct 2020

1.) Yes. Convert from SGD to USD via LiveFX in SC.

2.) No, SC does not accept inbound transfer directly to your settlement account. Convert using LiveFX in SC from your SGD settlement account to your USD settlement account.

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