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Anonymous
I have recently bought some shares using DBS Vickers. However the shares are already transferred to my CDP account. If I sell my shares using DBS Vickers, does my shares in my CDP account get transferred to DBS Vickers and sold automatically? Or do I need to manually transfer the shares to DBS Vickers before I can sell?
If automatically will it be instant or take few hours to be transferred? And if it took few hours, will my dbs vickers be in negative value since the shares are still in CDP?
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Gabriel
30 Apr 2020
Undergraduate at National University of Singapore
Hey Anon, there is no need to manually transfer your share holdings back to DBS VIckers. Just use your Cash Account to do a Sell transaction, Cash Upfront Account is only for buying. Do check out FSMOne as they charge the lowest fee for selling shares from your CDP. Also, remember to double check your CDP Account to ensure that you do not sell more shares than you own (oversell).
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If the shares are already in CDP, selling "transfer" will be automatic. no need manual.
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Automatic, DBS vickers will take care of it obo you, no fret.
CDP transfer will take about T+2 days