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Anonymous

28 Apr 2020

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General Investing

Hi! FSMOne charges a dividend handling fee of 2.50 USD minimum. So what if your dividends for that year are less than thay amount? Does that mean they deduct 2.50 from your cash account anyways?

Does this mean I'm making a loss? Will they still charge in this scenario?

FSMOne Fundsupermart

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Frankie Rappaport

27 Apr 2020

Yes, it seems so, whenever there is a dividend payment.

the relevance depends on your dividend lump sum: with 2.50 SGD dividend you loose 100%, with 2500 SGD dividend payment (with f.ex. 125000 SGD equity value) it is only 0.1%.

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I am considering to RSP 100 USD for VOO through FSMOne. However, I saw the min USD2.50 dividend handling fee. What will happen if my dividends are less than the dividend handling fee?

Is there any no fall-below fee multi currency account? For DBS multiplier fall below amount is 3K and too high. Secondly, once I have a multipler account can I deposit USD cash without any fees?

Can I get a waiver of service fee charge for going below bank account minimum amount?

I'm a self-employed & will receive my fees in USD. Should I open an USD accounts or receive the fees in my SGD accounts? Any recommended opt that can save in exchange rate and bank charges?

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