Untitled Document
Licensed dealer and Financial Adviser   CPFIS Registered Investment Administrator
 
FAQ

02. Account Opening

1) Who is Fundsupermart.com?
2) How do I open an Investment account?
3) How many Personal accounts and Beneficiary accounts can I have?
4) What is a Beneficiary Account?
5) Why can’t I email my documents to Fundsupermart.com?
6) I have an approved Personal account. Why do I still need to resend the entire documents including my supporting documents for my Beneficiary account opening?
7) Can I go to your office to open account? What are the documents shall I bring?
8) How do I open a Beneficiary account if I already have a Personal account with Fundsupermart.com or vice versa?
9) What is "Beneficial Owner"?
10) What is the minimum age to open an investment account?
11) Are there any charges involved to open or maintain an account?
12) Do I need to have a local SGD bank account to open an investment account with you?
13) What will happen to my account application if I do not send in completed documents?
14) How much money do I need to start?
15) Do I have to invest $1,000 every time?
16) How do I contact Fundsupermart for enquiries, feedback or even complaints?


Q: Who is Fundsupermart.com?

A: Fundsupermart.com is the online unit trust distribution arm of iFAST Financial Pte Ltd. iFAST Financial Pte Ltd is Singapore's leading online distributor of unit trusts as well as the leading operator of an investment platform for financial advisers and financial institutions. It carries the Capital Markets Services (CMS) License and Financial Adviser (FA) License issued by the Monetary Authority of Singapore (MAS), and is also one of three appointed Central Provident Board (CPF) Investment Administrators.
 
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Q: How do I open an Investment account?

A: Visit our homepage at www.fundsupermart.com. Go to the New To FSM > Personal / Beneficiary to open an account. Account Opening is a simple 5-step process. At the end, you will need to print out the form, sign it, and mail to us with a photocopy (both sides) of your NRIC/passport and ANY ONE of the following documents (non-returnable):

a)Original and *latest telephone/internet bill, or

b)Original and *latest Bank Statement, or

c)Original and *latest CPF Statement (can be printed from CPF website)

d) Original and *latest Insurance Statement

Supporting documents should not be more than 3 months old from the date that it is received by Fundsupermart.com. If you have e-statement of any of the above, you may email to us at clienthelp@fundsupermart.com.

The address on your IC must correspond to your residential address on your account opening form. The name and mailing address on the original supporting documents must match the name and Mailing Address on your account opening form.

We will activate the account within 2 business days upon receiving your complete documents. You can then proceed to login and start transacting.

Note:
1. For passport holder, address on supporting document must match the residential address on the Account Opening Form. If you have stated a different mailing address on the form, additional supporting document is required to reflect the mailing address.

2. If your mailing address is an overseas address, an "activation code" will be mailed to you once your account is activated. You will need both activation code and your own password when you login for the first time.

3. Once the account is activated, a welcome email with a verification email link will be sent to you. Please click into the link in order to verify your email address.

 
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Q: How many Personal accounts and Beneficiary accounts can I have?

A: You can open 1 Personal account and up to 3 Beneficiary accounts.

Do take note that you are still the primary operator and owner of all the accounts. The beneficiaries do not have rights over this account as long as you are living.

When you transact under the Personal account, you can transact using cash and CPF-OA/CPF-SA/SRS. You can only use cash investments for the Beneficiary Account.

 
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Q: What is a Beneficiary Account?

A: A Beneficiary Account in Fundsupermart.com (FSM) is useful if you are planning a separate portfolio for another person. In the event that any one person in the beneficiary account passes away, the assets of the account will belong to the surviving person.

The main applicant (main account holder) of this beneficiary account must be above 18 years old. Please note that the main applicant is still the key operative of this account and the owner of the assets invested under this account as long as the main applicant is still alive. All correspondence will be sent to the main account holder’s name and address.

Please note that you can only use cash investments for the FSM Beneficiary Account. You cannot use either your CPF or your beneficiary account holder's CPF account to invest in the beneficiary account.

Note: The FSM Beneficiary Account is different from a joint name bank account that you normally see in a bank. This is because for FSM Beneficiary Account, the main holder is still the primary operator and owner of the accounts. For example, the sales proceeds (cheque) will ONLY be payable to the name of the main account holder.

In the event that the main applicant passes away, the asset of the account will belong to the nominated beneficiary account holder. The beneficiary account holder (upon 18 years old) is required to bring the original death certificate and his / her original NRIC to our office. We will open a Personal Account for this beneficiary holder and then transfer all the holdings registered under the beneficiary account into this newly created Personal Account. Thereafter the beneficiary will have rights towards this holdings and he/she will be able to purchase, sell or switch if he/she wishes to.

 
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Q: Why can’t I email my documents to Fundsupermart.com?

A: As Fundsupermart.com (FSM) is operating as an online unit trusts trading platform, you need not come to our office personally to open an investment account with us. However, due to the compliance requirement for the verification of the identity of the applicant, on top of a copy of your NRIC, we need to receive your original account opening form and original supporting document. Therefore, you are required to mail in your account opening documents to us.
 
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Q: I have an approved Personal account. Why do I still need to resend the entire documents including my supporting documents for my Beneficiary account opening?

A: Due to compliance requirement, we require the documents which are not more than 3 months old. Hence, you are required to submit a full set of the account opening documents which include your latest supporting documents although you already have an approved Personal account with us.
 
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Q: Can I go to your office to open account? What are the documents shall I bring?

A: Yes, you are welcome to come to our office for account opening.

Our office address:
Fundsupermart.com
10 Collyer Quay #26-01
Ocean Financial Centre Building
Singapore 049315

Our office operation hours: Monday to Friday, 9am to 6pm

Kindly bring along your original NRIC or passport for face to face verification.

Note:
1. If you are registering using your passport number and your passport does not contain your residential address, please also bring along your original supporting document stating your residential address.
2. If your residential and mailing address are different, an additional supporting document which showing your mailing address is required.

 
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Q: How do I open a Beneficiary account if I already have a Personal account with Fundsupermart.com or vice versa?

A: You can simply log into your account at our website first then proceed to New to FSM > Personal / Beneficiary . Kindly click on Additional’ button since you already have an investment account with Fundsupermart.com. This is important as it allows us to link all accounts related to you.

Note: Due to compliance requirement, we need to receive a full set of documents required for your additional account opening.

 
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Q: What is "Beneficial Owner"?

A: A beneficial owner refers to an individual who ultimately owns or has effective control of the FSM investment account.

A beneficial Owner is NOT referring to the “beneficiary account holder” or "beneficiaries" who will inherit the asset when the main account holder passes away. So a Beneficial Owner (unlike a beneficiary account holder) will NOT inherit the assets if the main account holder passes on.

If an account applicant wishes to ensure that the assets are passed on to his/her beneficiaries, he/she may consider opening a FSM Beneficiary account.

Should you are not the Beneficial Owner, kindly call us at 6557 2853 or send us an email to clienthelp@fundsupermart.com to proceed with your account opening.

 
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Q: What is the minimum age to open an investment account?

A: For main account holders, the minimum age is 18 years old. There is no minimum age for the beneficiary applicant.

Note: The minimum age limit of main applicant has been revised from 21 years old to 18 years old with effect from 01 Mar 2009.

 
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Q: Are there any charges involved to open or maintain an account?

A: No, account opening at Fundsupermart.com is free-of-charge. You are not required to invest immediately at the time of account opening. You do not need to maintain any minimum holdings to keep the account either.

There will be no maintenance fee charged to you if your account has no holding. However, there will be a platform fee charged on the cash/SRS unit trust holdings maintained in your account. Please click here for our pricing structure.

 
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Q: Do I need to have a local SGD bank account to open an investment account with you?

A: No, it is not compulsory to open a local SGD bank account should you wish to open an investment account with us. However, the benefit of having a local SGD bank account is that you are able to update the Direct Credit Instruction to enable us to deposit your cash redemption proceeds to your designated bank account directly via quick cheque deposit instead of mailing the cheque to you.

It will also be easier for you to make payment to us via cheque or internet bill payment ( applicable to DBS, UOB, OCBC and SCB)

 
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Q: What will happen to my account application if I do not send in completed documents?

A: We are not able to approve your account application if we do not receive completed documents from you. Regular emails will be sent out to you as a reminder.

Please note that your account application will be voided automatically after 120 days from the date of application if completed documents are not received within the timeframe.

Once the application is auto-voided, you would need to resubmit a new account application online and resend completed documents required.

 
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Q: How much money do I need to start?

A: Most funds have a required initial investment amount of only $1,000. However, some funds may only accept minimum investments of $5,000.
 
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Q: Do I have to invest $1,000 every time?

A: No, once you have purchased a fund at the minimum initial investment amount, the minimum subsequent investment amount is typically lower. For most funds, the minimum subsequent investment amount is only $100.
 
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Q: How do I contact Fundsupermart for enquiries, feedback or even complaints?

A: For further assistance, feedback or complaints, you may call our helpline at +65 6557 2853 or write to us at clienthelp@fundsupermart.com.

Unresolved issues can also be brought up to FIDReC at www.fidrec.com.sg for mediation.

 
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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).