Frequently Asked Questions
Q1 How do I apply for EPS facility?
You must have a bank account and an ATM card or have subscribed for Internet Banking Service with any of the NETS member banks. You can download the EPS application form, sign and submit to CIMB Securities (Singapore) Pte Ltd, 50 Raffles Place #01-01 Singapore Land Tower Singapore 048623 or contact us at 1800 538 9889 or email to clientservices.sg@cimb.com for a copy of the EPS form. Note that only one bank account can be linked to one Cash Trading Account.
Q2 When can I use the service after application?
EPS applications are only processed by the SGX system on a weekly basis, every Thursday. However, if Thursday is a holiday, this process will be executed on a previous working day, i.e. Wednesday (if it is a working day).You will be advised in writing when the link between your designated bank account and Cash Trading Account has been activated. Please be advised that prior to approval, settlement of trades will be in cash or cheque.
Q3 How can I make payment via the EPS facility?
Payment can be made through the ATM, Internet or Phone Banking service of the bank where the account is
maintained and has been designated for the EPS facility.
There are 2 payment modes:
a) payment by contract (to make payment for a single contract)
b) payment by lump sum (to make a single payment for the total sum of several contracts)
Example of a step-by-step guide of making payment through an ATM:
a) Insert card
b) Key in your PIN
c) Select “Electronic Share Payment”
d) Select “CIMB Securities (Singapore) Pte Ltd”
e) Select “Payment by Contract” or “Payment by Lump Sum”
f) Key in Contract Number or Amount to Pay
g) The system will display “CIMB Securities (Singapore) Pte Ltd”, client’s Trading Account number, contract number (if applicable) and the amount for confirmation
h) Client’s account will be debited upon confirmation of the amount
i) A receipt will be printed for client’s record
In the case where there is an error in payment amount, you are required to contact us at 1800-538 9889 as soon
as possible.
Q4 If I have signed up for an EPS facility, can I effect payment via other modes?
Yes. You can choose to make payment via cash, cheques or telegraphic transfer if you do not wish to initiate payment via the ATM, Internet Banking or Phone Banking. Likewise, you may request to receive cheque for a particular sale. You may contact your Trading Representative one day before the contract due date to change your settlement instructions.
Q5 Is this a GIRO service?
No. GIRO permits direct debiting and crediting. EPS only allows direct crediting of sales proceeds into the designated bank account. 2-2 SGP/CSPL/FIN/EPSFAQ/030810
Q6 Can I link my designated bank account for EPS facility to more than one Trading account maintained with different broking firm?
Yes. There is no restriction as to the number of Trading account you can link your designated bank account for EPS facility.
Q7 If my Cash Trading Account maintained with CIMB Securities is an individual account, can my designated bank account be a joint account for EPS facility?
Yes.
Q8 Can I use funds from another bank account to make payment?
No. You can only use funds from the designated bank account linked to the Cash Trading Account. When making payment with ATM card, you should use the designated bank’s ATM. For example, if you have an UOB ATM card, you should use an UOB ATM to make payment.
Q9 If I initiate payment via the ATM, Internet Banking or Phone Banking, when would CIMB Securities receive my payment?
For all payments made via the ATM, Internet Banking or Phone Banking, CIMB Securities would only receive your payment on the following market day. Hence, if you have a contract that is due, payment made will effectively be received by CIMB Securities on Due Date + 1 of the purchase contract.
Q10 If I initiate payment via the ATM, Internet Banking or Phone Banking to CIMB Securities over the weekend (i.e. on Saturdays/Sundays/public holidays), when would CIMB Securities receive my payment?
Payment made on Saturdays, Sundays or on Public Holidays would be deemed as payment made on the next market day.
Q11 When I sell shares through CIMB Securities (Singapore) Pte Ltd, when will my designated bank account be credited with the sales proceeds?
Sales proceeds will be credited on Due date + 1 of the sales contract and you can have access to your funds on the second day morning after the Due Date.
Q12. Can I settle my foreign currencies trades using the EPS facility?
Yes, you can only if you have indicated settlement currency to be in SGD for your foreign currencies trades. The EPS facility is only available for SGD settlement.
Q13 Would my dividends for foreign securities held in CIMB Securities custody be automatically credited to my EPS designated bank account?
No. You will continue to receive cheques for your dividends.
Q14. If I change / close my designated bank account for EPS, how do I re-apply for my EPS facility?
You are required to complete a closure form to terminate your existing EPS facility and a new EPS application form with the new designated bank account.
Q15. How long does it take to activate my EPS facility if there is a change of designated bank account?
The process of closure and re-application will take approximately 2 weeks. Prior to approval, all trades must be settled by cash/cheque.
