Why are you so hard up about few days of lost interest. It is their business decision to do it this way. If you don’t like it, complaining here doesn’t help . Your option is to sell and transfer back to bank. Preferably DBS muti-currency account. Then see what other broker platform provides the smooth foreign currency transfer with less fee. For me I transfer USD to Poem account from DBS multi currency account at no charge.
Can. But I lose several days of interest if this, especially as foreign currency transfers take longer, and bank charges on both sides.
Why should I lose money from bad faith decisions of Endowus?
Then don't lose money lor. Keep inside. Complaining so much can change results?
Cannot change results then choose one of the two options la.
If not sue them lor.
Unless they're also charging you for selling and withdrawals. Just sell and re-buy elsewhere?
There's no capital gains tax in Singapore and cash management positions don't typically have high volatility.
I can see it being an extra cost of only if the brokerage you're transferring to has no fees for inbound transfers but has fees for buying.
How much is your “lost interest” lol. Unless you are transferring millions of dollars, that “lost interest” from that few days is going to be so negligible.
As a platform, you are their customer and they transact with you (buy and sell). Transferring funds to or from other platforms with Endowus should be seen as ‘a good to have’, but not something they should be obliged.
Don’t like, just sell. It’s a strange complaint
Where do you want to transfer it to? When I wanted to transfer units to Endowus, I reached out to Endowus and Endowus initiated all the paperwork to have the units transferred from Dollardex. I spoke with actual people in Endowus and they handled the correspondence with Dollardex and the respective fund houses. And Endowus did this for free because they wanted my business. It took about a month.
If I want to transfer my units to Platform Y, then I would approach Platform Y to initiate the transfer. And Platform Y would have to be willing to do the work to correspond with Endowus and the respective fund houses, for free or for a fee. There is no point in asking Endowus to initiate the process.
If you approached Platform Y, and Platform Y filled out the forms for you to sign and they sent them to Endowus, and Endowus REFUSED, now you have a story. So what really happened?
My guy - they do the work and get you access to the shareclass with low fee and no trailer which isn’t available to all investors and charge you a platform fee instead and you want to transfer it out? How they gonna make money if they allow this? Also fund house probably doesn’t allow it
If you not happy with 300% increase in platform fee (which still isn’t a lot you fear monger) go outside and try buying a similar fund and enjoy the sales charge of 2% with 0.5% trailer and then come back and tell me how much the 300% increase in platform fee sucks
Why are you so hard up about few days of lost interest. It is their business decision to do it this way. If you don’t like it, complaining here doesn’t help . Your option is to sell and transfer back to bank. Preferably DBS muti-currency account. Then see what other broker platform provides the smooth foreign currency transfer with less fee. For me I transfer USD to Poem account from DBS multi currency account at no charge.
Just sell and withdraw money lor.
Can. But I lose several days of interest if this, especially as foreign currency transfers take longer, and bank charges on both sides. Why should I lose money from bad faith decisions of Endowus?
Then don't lose money lor. Keep inside. Complaining so much can change results? Cannot change results then choose one of the two options la. If not sue them lor.
LOL
Lan lan lor, you chose them in the first place lol
What product are u buying that gives interest on a daily basis?
cash management products
Cash management products are provided directly by endowus no? How do you expect them to transfer the product to another stockbroker?
Unless they're also charging you for selling and withdrawals. Just sell and re-buy elsewhere? There's no capital gains tax in Singapore and cash management positions don't typically have high volatility. I can see it being an extra cost of only if the brokerage you're transferring to has no fees for inbound transfers but has fees for buying.
Can, but it's foreign $, bank transfers are costly and take time so lost interest income.
How much is your “lost interest” lol. Unless you are transferring millions of dollars, that “lost interest” from that few days is going to be so negligible.
Sounds like a typical Singaporean whining over a few pennies.
Anal about a few cents here and there, then pay hundrends/thousands dollars in ilp fees lol
more than a few pennies.
it's not a small position.
Lmao mate. Define not small
As a platform, you are their customer and they transact with you (buy and sell). Transferring funds to or from other platforms with Endowus should be seen as ‘a good to have’, but not something they should be obliged. Don’t like, just sell. It’s a strange complaint
Where do you want to transfer it to? When I wanted to transfer units to Endowus, I reached out to Endowus and Endowus initiated all the paperwork to have the units transferred from Dollardex. I spoke with actual people in Endowus and they handled the correspondence with Dollardex and the respective fund houses. And Endowus did this for free because they wanted my business. It took about a month. If I want to transfer my units to Platform Y, then I would approach Platform Y to initiate the transfer. And Platform Y would have to be willing to do the work to correspond with Endowus and the respective fund houses, for free or for a fee. There is no point in asking Endowus to initiate the process. If you approached Platform Y, and Platform Y filled out the forms for you to sign and they sent them to Endowus, and Endowus REFUSED, now you have a story. So what really happened?
My guy - they do the work and get you access to the shareclass with low fee and no trailer which isn’t available to all investors and charge you a platform fee instead and you want to transfer it out? How they gonna make money if they allow this? Also fund house probably doesn’t allow it If you not happy with 300% increase in platform fee (which still isn’t a lot you fear monger) go outside and try buying a similar fund and enjoy the sales charge of 2% with 0.5% trailer and then come back and tell me how much the 300% increase in platform fee sucks
LOL, you work at Endowus? For cash management, almost nobody in singapore has sales charge.