How do I pay for the stocks that are held on my DBS Vickers? Help guys! I do not want to lose my shares hahaha, any advice for me? - Seedly
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Zachary Teo

Asked on 27 Mar 2020

How do I pay for the stocks that are held on my DBS Vickers? Help guys! I do not want to lose my shares hahaha, any advice for me?

I accidentally purchased the stocks with the "CASH" account instead of "CASH UPFRONT"

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Hi Zach,

If you purchased with the 'CASH' account then this works like most accounts which are CDP linked; i.e. you need to ensure that you settle on T+2 or else your shares will be force sold.

Depending on how your Vickers account works, this could be a GIRO deduction (ensure enough monies), or you might have to manually transfer funds into your account to settle.

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Kdz
Kdz
Level 4. Prodigy
Answered on 27 Mar 2020

Hey there. Encountered somewhat similar to you and I know how you feel with the limited information out there. Just make sure that you have sufficient money in your linked vickers account-usually it's multi-currency account. Ensure that it is in the right currency as per when you purchase SGD/HKD/USD. You can also call them during office hours at 6327 2288 after some verification they can locate your purchase and advice accordingly. Also I think it might take a couple more days after the deduction before it will be reflected in your CDP. Hope this helps.

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Zachary Teo

28 Mar 2020

Thank you! Yea, their information is really limited, not to mention their app sucks haha
Daniel Kok
Daniel Kok

5d ago

Riding onto the question, how do I know if I’m using cash or cash upfront account? I’m paying $25 per transaction so I’m most probably using the cash account? 😂
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CH
CH
Level 7. Grand Master
Updated on 27 Mar 2020

Will deduct from your giro. make sure you have enough cash in your bank account.​​​

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CH
CH

27 Mar 2020

At T+2
Zachary Teo

28 Mar 2020

Thanks man! Got a scare for a moment. First time on Vickers because of the Multiplier account lol
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WS
Woh Seah
Level 2. Rookie
Answered 5d ago

If you paid with cash, then you will need to ensure there is money in your CDP linked bank account.

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