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05. Payment Methods
1) What are the payment procedures for cash investments?
2) When will my buy orders be transacted if I make payment through my Cash Fund?
3) When will my buy orders be transacted if I make payment through cheque or internet bill payment?
4) Can I park my money with you first so that I can invest without lag time?
5) What payment reference do I enter when I pay by Internet Bill Payment?
6) I have forgotten my FSM investment account number. What do I do?
7) Will my purchase order be transacted after the cheque is cleared?
8) When will my order be transacted if I pay by internet payment?
9) What is the bank’s cut-off time for Internet Bill Payment?
10) Will I be informed when you have received my payment?
11) Must I make payment immediately?
12) I have sent you the payment but I have forgotten to place buy order. What should I do?
13) Can I make partial payments?
14) How do I make payments for CPF investments?
15) Can I make payments by Telegraphic Transfer (TT)?
16) Can I send a cheque in foreign currency?
| Q: |
What are the payment procedures for cash investments? |
| A: |
You can pay by
- Parking Facility Fund
- Cheque
- Internet bill payment (for UOB, OCBC, DBS and SCB Internet bank customers)
- Telegraphic Transfer
Parking Facility Fund (Cash Fund/ Nikko AM Shenton ShortTerm Bond SGD)
To use your Cash Fund/ Nikko AM Shenton ShortTerm Bond SGD) to buy unit trusts, you need to ensure that there are sufficient holdings in the Cash Fund/ Nikko AM Shenton ShortTerm Bond SGD.
Simply select the Cash Fund/ Nikko AM Shenton ShortTerm Bond SGD as the payment method during the buy process.
To know more about the Cash Fund, click here
To know more about the Nikko AM Shenton ShortTerm Bond SGD, click here
Cheque
To pay by Cheque, issue the cheque to iFAST Financial-Client Trust Account. Do indicate your name, phone number and your purchase order number at the back of the cheque. Please do not send post-dated cheques.
Please mail it to:
iFAST Financial Pte Ltd
(Fundsupermart.com)
10 Collyer Quay #26-01
Ocean Financial Centre Building
Singapore 049315.
Internet Bill Payment
Currently, all DBS, OCBC, UOB and SCB Internet bank customers can pay via the respective banks' Internet Bill Payment ( instead of fund transfer). Select "iFAST Financial Pte Ltd" as the payee.
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| Q: |
When will my buy orders be transacted if I make payment through my Cash Fund? |
| A: |
These orders will be transacted on the same business day that you place your order, provided they are received before 3pm. Orders received after 3pm will be transacted on the next business day. Orders received on a non-business day will be transacted on the next business day. |
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| Q: |
When will my buy orders be transacted if I make payment through cheque or internet bill payment? |
| A: |
These orders will be transacted on the same business day if the payment is received before 3pm. Payments received after 3pm will be transacted on the next business day. The buying price will be based on T. |
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| Q: |
Can I park my money with you first so that I can invest without lag time? |
| A: |
Yes, you may park your money in our parking facility fund (Cash Fund/ Nikko AM Shenton ShortTerm Bond SGD). Click here to find out more about Parking Facility fund.
To park your money in Cash Fund/Nikko AM Shenton ShortTerm Bond SGD, please place a buy order by going to My Investments > Buy Unit Trusts before sending the payment to us. |
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| Q: |
What payment reference do I enter when I pay by Internet Bill Payment? |
| A: |
The payment reference will be your FSM Investment Account number. Your Investment Account number starts with "P" and is followed by 7 numbers. Example: P1234567 |
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| Q: |
I have forgotten my FSM investment account number. What do I do? |
| A: |
Kindly login to your investment account and your account number will appear on the top right hand corner of the your screen. Alternatively, you may visit your account details for your account number. |
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| Q: |
Will my purchase order be transacted after the cheque is cleared? |
| A: |
No, we will process your purchase order on the same day upon receipt of your cheque (SGD or USD cheque issued by local bank) before 3pm on any business day.
Note:
Please ensure there is sufficient balance in your bank before send us the cheque as we will purchase for you first upon receipt of the cheque. If the cheque is bounced and you wish to cancel this purchase, you may be liable for any monetary loss incurred by fundsupermart due to the unsuccessful clearance of your cheque. |
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| Q: |
When will my order be transacted if I pay by internet payment? |
| A: |
If you make a payment before the bank's cut-off time on any business day, your order will be transacted on the following business day when we receive your payment (transaction date). The purchase price will be based on the NAV of the transaction date.
Internet payment limits imposed by each bank:
OCBC: $5,000 per day
UOB: $20,000 per calendar month
DBS: Subject to available balance in your account
SCB: $5,000 per day
Once payment has been received, an email will be sent to you.
These are default limits imposed by the banks for Internet payments and investors can increase them. To do so, you will need to contact your respective banks to change the limits.
Below are the contact numbers of the 3 local banks:
OCBC: 1800 363 3333 (From Singapore), +65 6786 6666(From Overseas)
UOB: 1800 22 22 121
DBS: 1800 111 1111 (From Singapore), +65 6327 2265 (From Overseas)
SCB: 1800 747 7000 (From Singapore) |
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| Q: |
What is the bank’s cut-off time for Internet Bill Payment? |
| A: |
UOB
If you make a payment before 10:00pm on any business day, your payment will be received on the next business day, and the relevant order will be transacted on the day payment is received.
OCBC
If you make a payment before 9:00pm on any business day, your payment will be received on the next business day, and the relevant order will be transacted on the day payment is received.
DBS
If you make a payment before 11:30pm on any business day (8:30pm if payment is make on the last working day of the month - working days exclude Sat/Sun), your payment will be received on the next business day, and the relevant order will be transacted on the day payment is received.
SCB
If you make a payment before 10.00pm on any business day, your payment will be received on the next business day, and the relevant order will be transacted on the day payment is received.
If you pay by internet bill payment before your bank’s cut-off time on any business day, your payment will be received on the next business day.
You would have noticed that the payment will be deducted from your bank account immediately. We will only receive the payment from your bank on the next business day if you pay before your bank’s cut-off time on any business day. |
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| Q: |
Will I be informed when you have received my payment? |
| A: |
An email notification will be sent to you upon receipt of your payment.
If you send us a cheque by normal post, it may take about a few business days to reach us. Upon receipt of the cheque, an email notification will be sent to you.
If you pay by internet bill payment before your bank’s cut-off time on any business day, your payment will be received on the next business day. |
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| Q: |
Must I make payment immediately? |
| A: |
Your buy orders will only be transacted when payment is received.
You may choose to make payment at a later date, provided you know the amount and the payment reference. Please note that your buy orders will only be transacted when payment is received. |
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| Q: |
I have sent you the payment but I have forgotten to place buy order. What should I do? |
| A: |
Please do not make any payment to us without placing a buy order online. This is because we have to match your payment with the purchase order placed.
However, if your payment is received without any order, you are advised to place the order immediately within 7 business days; otherwise, we will refund the monies to you. |
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| Q: |
Can I make partial payments? |
| A: |
No. Please make full payment, i.e., if you have put through more than 1 order, please pay in full.
However, if it is due to the daily limit of internet bill payment imposed by the bank, kindly inform us at 65572853 or drop us an email. |
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| Q: |
How do I make payments for CPF investments? |
| A: |
For CPF-OA and CPF-SA purchases, iFAST Financial Pte Ltd will withdraw monies on behalf of you from your CPF Investment Account at your agent bank and your CPF Account at the CPF Board respectively each time you make a purchase.
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| Q: |
Can I make payments by Telegraphic Transfer (TT)? |
| A: |
For Cash investments, you can do wire/Telegraphic Transfer as well. The bank account details for telegraphic transfer can be obtained after you have placed a buy order online.
Currently, we only accept TT payment in SGD, USD, AUD, EUR and GBP. You have to indicate the payment currency during the purchase order online.
Your buy order will be processed once we receive the TT payment from your bank.
If you need further details, please email us at clienthelp@fundsupermart.com. |
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| Q: |
Can I send a cheque in foreign currency? |
| A: |
Currently, we only accept cheque payment in SGD and USD. ( cheque issued from a bank in Singapore where the cheque will be cleared locally). You have to indicate the payment currency during the purchase order online.
Foreign currency cheque other than these 2 currencies is not acceptable.
You may telegraphic transfer the payment to us in these SGD, USD, AUD, EUR and GBP currencies. You need to indicate the payment currency when placing the purchase order online. |
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For further assistance, call our helpline at 6557 2853 from 9am to 6pm on Mondays to Fridays (excluding weekends & public holidays).
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