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Anonymous

24 Sep 2023

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General Investing

Transfer SCB FCY USD

I have some USD fund from selling of CSPX share thru CSB trading, and the fund is currently in my SCB FCY USD account, Given that the USD FD rate is good, I intend to transfer it to my DBS multi currency account and put in FD in USD, however I tried on SCB apps and not able. Any advice? Must I convert back to SGD?

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Choon Yuan Chan

30 Sep 2023

YEs you need to convert it back to SGD first, bank to bank transfer of USD is not worth it as both will charge fees which may cost up to 5% which is worse off than the option of covnerting USD back to SGD

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Chris

Edited 24 Sep 2023

Need to convert to SGD. SCB FCY account does not allow intra-bank transfer of FCY.

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