Can anyone advise on applying for FSMone’s RSP and currency conversion?

I would suggest going to their currency conversion page to see how much $250sgd is worth in USD based on their currency rate. Use that as the amount you should buy every month. For the GIRO, give yourself a 1-3% above what you have put in the RSP so that it will be a success every month.

So back to your question, the bank will withdraw based on the amount you put in for the GIRO. The amount you should buy should be less than the GIRO deduction as to take into account the fluctuation of currency.

To apply for an RSP, please follow the steps below:

1. Login to your account and click on "Place Orders" tab on the menu bar.

2. Select the fund that you are intended to do RSP under "What do you wish to buy"

3. Select the payment method that you wish to utilize for RSP:

• DDA stands for Direct Debit Authorization (it is a deduction from your bank account), and/or

• CPF OA/SA/SRS, and/or

• Cash Account

4. Key in the RSP Amount for monthly basis.

5. If you have selected DDA and it's your first RSP application, you are required to key in the bank details.

6. Once it is confirmed, print the DDA form and mail to us. However, if you select CPFOA/SA/SRS/Cash Account, no form is required

Note: You may apply more than 1 fund under the same DDA by going through the same steps of application. However, you will only need to submit one DDA form. Once it is approved, you are able to use it for RSP of different funds under the same FSMOne account.

Hope this helps!

(Source: FSMOne FAQ page)

One thing to note is that the date for RSP subscription is the 8th of every month (or next working day if the 8th is a non-business day).