facebookHas anyone used YouTrip Credit Card to convert SG dollars to US dollars and used it to fund your US stocks account? - Seedly

Advertisement

Anonymous

13 Jan 2020

Credit Cards

Has anyone used YouTrip Credit Card to convert SG dollars to US dollars and used it to fund your US stocks account?

Would this be a good idea?

Discussion (8)

What are your thoughts?

HC Tang

HC Tang

13 Jan 2020

Level 13·Financial Enthusiast, Budgeting at The Society

Why not try using Revolut. Their also have their own investment platform similar to Robinhood (FOC) in USA. You can ask them if is possible to do so before applying.

The brokers i used only accept bank wire. They will deposit straight to my designated bank account.

You can instead create a USD currency account with any bank in Singapore if you are worried about the FX rates.

Bjorn Ng

Bjorn Ng

13 Jan 2020

Level 13·Business Analyst at 10x Capital

Hi there, I think that would not be allowed. I haven't tried it before, but just the thought of using your credit card to fund your investing account, doesn't sound right (because CC $ are technically not your $ in the first place). I previously had a friend who chanced upon this forex trading website (or so they claim), "top up" using his CC, and he had huge problems taking it out. Then you think again, if you decide to withdraw, the money will probably go back into your card.

Not a good idea, since Youtrip is primarily used for overseas transactions (and not to buy foreign currencies to fund US stocks accounts.

Use my code JUNUS for $5 in your Youtrip account!

It dosent work. I recall US stocks account so far dont allow youtrip to fund them...

Read 3 other comments with a Seedly account

You will also enjoy exclusive benefits and get access to members only features.

Sign up or login with an email here

Write your thoughts

Advertisement