facebookDo iOCBC's charges apply to all dividends on shares I own? - Seedly

Anonymous

06 Nov 2019

βˆ™

General Investing

Do iOCBC's charges apply to all dividends on shares I own?

Saw that iOCBC has a handling fee on cash dividends:
1% on net dividend (min S$3, max S$50)
7% GST or equivalent depending on the payment currency
So does it mean that for all dividends declared by shares I owned will be charged a fee?

Discussion (6)

What are your thoughts?

Learn how to style your text

I use scb for overseas stock purchases, the main disadvantage is the so-so forex rate when converting sgd to usd/hkd to fund my settlement accounts.
On the flip side, there's no charges on dividend handling costs, counters costs etc. So good to use for long-term dividend stock buys with the intention to collect foreign denominated dividends.
All relevant transaction costs are upfront in the form of trading costs & so-so forex conversion rate.

Is this for overseas shares?
I use iocbc for sg stocks and reits. I do not need to pay fees on my sg dividends.

Kelly Trinh

06 Nov 2019

Backoffice technical at financial services firm

Yep!

It's a bit of a bummer and good you noticed it on front end. For me, I use another broker wit...

Write your thoughts