The much cheaper way in fee is through Custodian account. However as the name suggested, the shares are held by brokerage and not CDP. Due to that, we cannot trade the shares managed through this broker with another. For service, mine is Treasures Account and has Relationship manager. They are quite busy however reaching her is not difficult with WhatsApp but it takes time. The interface is not as good for detail portfolio summary however when come to Rights Issue and tracking balances they are Top. Transfer of fund is also a breeze with saving accounts in the same bank.
Recently, CDP has upgraded to able to use QR Code which allows me to use PayNow instead of mailing in through the mail system which will be bad. As I travel oversea often, ATM is not a good option either. So I am glad they have finally implemented a better way to do this. Glad to know and happy to be a shareholder of SGX shares !
For the recent Preferential Offering, decided to apply excess in both Poems and DBS Treasures as I have shares in both accounts. Wish me luck. Maybe I should get few more Custodian accounts to improve my chance ?
Articles in this Blog is personal take and educational purposes only. Reader should seek their own professional help when making financial decision and be responsible for their decision.