Anonymous

10 Oct 2019

∙

General Investing

What are the fees associated with DBS UT transfer out to Poems?

I currently have some Unit Trust funds that I have bought via DBS. I enrolled via the RSP program to fulfil the POSB Cashback criteria. I also have a Poems account which I do RSP, with the end of 12 consecutive months of RSP. It will no longer fulfil the criteria of POSB Cashback. I want to consolidate the investment in Poems. Does anyone know any fees associated with it? And also, how can I go about doing it?

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Elijah Lee

09 Oct 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi there, there are no fees from Phillip to transfer in UTs.

It is just important to take note that
1) POEMS also carries the fund (else you can't transfer it in)

2) The relevant paperwork is signed off (depends on the fund source, fund house)

Just be aware that the transfer in the process would 'freeze' your UTs and you would not be able to transact in them until they are reflected in POEMS.

You can drop me a message if you would like to know more about the process, timeframe, etc.

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Related Posts

Hi. If I need to transfer S$1x,xxx to a European bank account, is it better to use DBS Remit (no fees, same day transfer) or DBS MCA account?

What are the fees incurred if we use Revolut to convert SGD to USD, then transfer to DBS MCA and thereafter from DBS to Saxo account? Will there be TT charges?

What are all the fees involved with DBS Invest Saver RSP - for both UT and ETFs?

If I am trading US stocks via tigers or FSMone, what’s the most cost efficient way if I decide to cash out my earnings? Also is there any transaction fees for transferring USD from tiger/FSMone to DBS?

Are there any fees involved if I intend to transfer my USD from FSMone to my DBS multiplier then to Tigers broker?