How does buying vanguard s&p 500 etf (VUSD ireland-domiciled) work if I buy through standard chartered trading? - Seedly
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Anonymous

Asked on 12 Oct 2018

How does buying vanguard s&p 500 etf (VUSD ireland-domiciled) work if I buy through standard chartered trading?

They informed me that I will need to open multiple accounts - a savings account in sgd, a usd account, a securities settlement account and a securities account. What is the purpose of each account and why so troublesome?

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Gabriel Tham
Gabriel Tham
Level 9. God of Wisdom
Updated on 07 Jun 2019
  1. Need a normal saving account with bank, in SGD or any currency u prefer.

  2. Yes securities and settlement account is for their brokerage. Cos the shares is kept by them.

This is how u buy from SCB.

First u transfer cash from saving account to settlement account for USD or GBP (cos u buying the ETF in that currency)

Then u go into brokerage to buy. It will deduct the cash from the settlement account.

Then u check the securities account can see your portfolio holdings after few days.

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Gabriel Tham
Gabriel Tham

13 Oct 2018

saving account have minimum but other securities and settlement no minimum
Question Poster

16 Oct 2018

Thanks!
Nicholas Chan
Nicholas Chan
Level 6. Master
Updated on 25 Jun 2019

U can just need 1 sgd savings account, e.g. Esaver, and 1 securities settlement account per currency. U need to prefund the settlement account before you can place an order.

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Question Poster

16 Oct 2018

Understand, thanks!
Mak Wai Yong
Mak Wai Yong

25 Jun 2019

Hello. I am looking to purchase the Ireland domiciled ETF too. Could I check what are the associated fees and how much would they be?