How to receive USD dividends/sold shares as USD?

In particular - if I use SC/IB/TD and trade US stocks, linked to my DBS Multiplier account, how can I adjust the setting so that the USD can be maintained in the same currency after selling it or when I receive dividends?

Subsequently as well, how do I transfer this balance to my Youtrip card for online purchases, or even transfer the USD to my Live Fresh card?

2

Discussion (2)

What are your thoughts?

Learn how to style your text

Frankie Rappaport

11 Feb 2020

Should only be possible if you have a USD account at your brokerage plus you trade at a stock exchange where the stock is traded in USD currency

Reply

Save

View 1 replies

Kelly Trinh

03 Nov 2019

Backoffice technical at financial services firm

Original Post:

If I receive dividends in my bank account as USD, how can I convert it to SGD?

Need to distinguish between AMAZE (the multi-currency card product that will be launched by InstaReM in Dec) and the remittance function that has been running for a while.

For your query - the latter supports this (USD from SG domiciled account to change to SGD and credit to SG account). Depending on your bank it might be troublesome if your USD source doesn't support transfer out online (so need a visit to the branch to transfer the USD to InstaRem)

Reply

Save

Write your thoughts

Saxo Markets

4.5

959 Reviews

US$1

MINIMUM FEE

0.03% to 0.08%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Moomoo Singapore

4.7

484 Reviews

Syfe Trade

4.9

131 Reviews