PAYMENT INSTRUCTIONS How to fund your Trading Account? Fund only after you have received your Account Details Please be aware that Saxo Capital Markets (SCM) is unable to accept funds before account opening due diligence is completed and you have received your account details. Any funds received before this process has been completed, will be returned to your sending account, less bank charges (if any). Third Party Funding is Not Accepted SCM does not accept incoming funds from any third party. SCM will only accept funds originating from a bank account held in the same name registered with SCM. This rule applies to both individual accounts as well as corporate accounts. Funds received from any third party accounts will be returned (less bank charges) to the sender. The funds should typically reach the sender’s account within 5 to 10 working days, however, there may sometimes be a delay depending on the banks involved. Unaccepted Forms of Payment SCM does not accept Banker’s Drafts, Cash Deposits and remittances from Exchange Houses/Money Changers. Funds received from any or all of these payment channels will be rejected and returned to the sender (less bank charges, if any). Please see also relevant tab(s) below, for various payment modes. Telegraphic Transfer and Inter-Bank Internet Banking Transfer SGD and USD Local Clearing Cheques HSBC Singapore Personal Internet Banking Transfer Credit/Debit Cards (available only for subsequent funding, not available for initial funding) Funds Withdrawal Telegraphic Transfer and Inter-Bank Internet Banking Transfer Please ensure that you have read our above general section on important information relating to funding your account. Before you fund your trading account with SCM, please ensure that your existing bank account has been opened under the same name (in the exact order, sequence and form) as the name which has been used to open your SCM trading account. You can only withdraw funds from your trading account to a bank account held under your name. Please instruct your bank to include your SCM Client ID and SCM Trading Account Number in your transfer instructions. SCM is unable to facilitate funds transfers to or from third party accounts. This policy applies to both individual accounts as well as corporate accounts. Our client trust accounts are held with HSBC in Singapore, New Zealand, Hong Kong and Indonesia. For further information on our bank remittance details, please see Bank Remittance Details. For information relating to funding in SGD, please see Funding in SGD. For information relating to funding in other currencies, please see Funding in other Currencies. Currency Conversions: Currency conversion at SCM (if any) that involves conversions of funds transferred to and from your trading account with SCM will be done using the current spot rate plus/minus 0.5% when the amount is credited or debited from your trading account. Remittance Charges SCM can and will only credit your account with the actual monies received on your behalf. Remittance charges should be fully covered by the sender. Rejected funds due to remittance received before the Due Diligence has been completed and you have received your account details or remittance received from Exchange Houses/Money Changers or any third party (including family members) will be returned to the sender less bank charges (if any). IMPORTANT TO NOTE: Request for Proof of Remittance Please note that we are required under the Anti-Money Laundering rules and regulations to request for and verify proof of remittance from our clients. Although such request may not be made immediately upon making the bank transfer, Saxo Capital Markets reserves the right to request for such proof at a later date. If the client is unable to furnish such proof of remittance within a reasonable period of time, we are entitled to limit or restrict the client’s access to payment via internet banking transfer. No Postponement of Margin Stop-Outs Margin stop-outs cannot be postponed based on funds that have been debited from your account with your bank. Payments into your account are deposited only on the condition that such funds have been cleared and received by Saxo Capital Markets. Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected]. Funding in SGD Bank details with HSBC Singapore: HSBC Singapore Address: 21 Collyer Quay, HSBC Building, Singapore 049320 Currency Pay To (Beneficiary Bank) SGD HSBC Singapore Singapore SWIFT Code: Dollar HSBCSGSG In Favour Of (Beneficiary) Beneficiary's Account Number Saxo Capital Markets Pte. Ltd. 147-125793-003 For Interbank GIRO (Internet Banking), the first 3 digits (147) is the Branch Code and the subsequent 9 digits (125793003) is the Account Number. Branch code: 147 = Tanjong Pagar Bank Code: 7232 Please indicate your Saxo Client ID during the initial setup of the payee. For further Credit to (Ultimate Beneficiary) Request your Bank to indicate on the Swift Field 72:/BNF/For further credit to [Your Saxo Client ID &/or specific Saxo Trading Account Number (if you have more than one trading account)] Indicate [Your Saxo Client ID &/or specific Saxo Trading Account Number (if you have more than one trading account)] on the Bank to Bank Information field for the details to be visible by the beneficiary (please check with your Bank) If you are unable to do so, please send us the screen shot or account statement showing that the transfer was successfully made from an account held in your name to Saxo Capital Markets Pte. Ltd. Otherwise, we might have to return the unidentified funds. Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected]. Funding in other Currencies Bank details with HSBC Singapore: HSBC Singapore Address: 21 Collyer Quay, HSBC Building, Singapore 049320 Currency Pay To (Beneficiary Bank) In Favour Of (Beneficiary) Beneficiary's Account Number USD US Dollar HSBC Singapore SWIFT Code: HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-195 HSBC Singapore AUD SWIFT Code: Australian Dollar HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-191 HSBC Singapore SWIFT Code: HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-202 HSBC Singapore CAD SWIFT Code: Canadian Dollar HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-206 DKK Danish Kroner HSBC Singapore SWIFT Code: HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-193 EUR Euro HSBC Singapore SWIFT Code: HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-196 HSBC Singapore GBP SWIFT Code: Sterling Pounds HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-199 HSBC Singapore HKD SWIFT Code: Hong Kong Dollar HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-190 JPY Japanese Yen HSBC Singapore SWIFT Code: HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-194 NOK Norwegian Krone HSBC Singapore SWIFT Code: HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-212 NZD New Zealand Dollar HSBC Singapore SWIFT Code: HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-192 HSBC Singapore SEK SWIFT Code: Swedish Kroner HSBCSGSG Saxo Capital Markets Pte. Ltd. 260-494463-208 CHF Swiss Franc For Further Credit to (Ultimate Beneficiary) Request your Bank to indicate on the Swift Field 72:/BNF/For further credit to [Your Saxo Client ID &/or specific Saxo Trading Account Number (if you have more than one trading account)] Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected]. Bank Remittance Details For relevant bank details of HSBC in New Zealand, Hong Kong and Indonesia, please see: Bank Details with HSBC New Zealand: HSBC New Zealand Address: HSBC House Level 9, No 1 Queen Street, Auckland, New Zealand Currency Pay To (Beneficiary Bank) In Favour Of (Beneficiary) Beneficiary's Account Number For further Credit to (Ultimate Beneficiary) NZD Request your Bank to indicate on HSBC New Zealand New Zealand Saxo Capital Markets Pte. Ltd. 30-2904-0216559-61 the Swift Field 72:/BNF/For further SWIFT Code: HSBCNZ2A Dollar credit to [Your Saxo Client ID &/or specific Saxo Trading Account USD HSBC New Zealand Number (if you have more than one Saxo Capital Markets Pte. Ltd. 004-021655-251 US Dollar SWIFT Code: HSBCNZ2A trading account)] Bank Details with HSBC Hong Kong: HSBC Hong Kong Address: Head Office GPO Box 64, 1 Queen’s Road Central, Hong Kong Currency Pay To (Beneficiary Bank) HKD Hong Kong Dollar HSBC Hong Kong SWIFT Code: HSBCHKHHHKH USD US Dollar HSBC Hong Kong SWIFT Code: HSBCHKHHHKH In Favour Of (Beneficiary) Beneficiary's Account Number Saxo Capital Markets Pte. Ltd. 808-192298-001 Saxo Capital Markets Pte. Ltd. 808-192298-201 For further Credit to (Ultimate Beneficiary) Request your Bank to indicate on the Swift Field 72:/BNF/For further credit to [Your Saxo Client ID &/or specific Saxo Trading Account Number (if you have more than one trading account)] Bank Details with HSBC Indonesia: HSBC Indonesia Address: World Trade Center, 3rd Floor, Jl. Jendral Sudirman Kav.29-31, Jakarta 12920, Indonesia. Currency Pay To (Beneficiary Bank) In Favour Of (Beneficiary) Beneficiary's Account Number For further Credit to (Ultimate Beneficiary) 050-247626-117 USD HSBC Indonesia US Dollar SWIFT Code: HSBCIDJA Saxo Capital Markets Pte. Ltd. Please remit in USD to SCMPL. Conversion if any should be done at your bank and then request your bank to remit the equivalent in USD to SCMPL's USD account at HSBC Indonesia. Request your Bank to indicate on the Swift Field 72:/BNF/For further credit to [Your Saxo Client ID and/or specific Saxo Trading Account Number (if you have more than one trading account)] Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected]. SGD and USD Local Clearing Cheques 1. 2. 3. 4. 5. 6. 7. SCM currently only accepts SGD and USD LOCAL clearing cheques from clients residing in Singapore. Cheques are to be made payable to “Saxo Capital Markets Pte. Ltd.” This name has to be written clearly in FULL. The exact same name as per your account with SCM must be printed on the cheque. If not, proof of account holder name which matches the account number on the cheque must be provided as third party cheques are not accepted. Your Saxo Client ID & specific Saxo Trading Account Number (if you have more than one trading account) must be written on the reverse side of your cheque. The cheque must be mailed out or handed to our reception at our office at address stated below: Saxo Capital Markets Pte. Ltd. 3 Church Street #30-00 Samsung Hub Singapore 049483 Attn: Cash Management (NOTE: Please DO NOT deposit any cheque directly at any HSBC Branches) Funds via cheque payments will only be booked to your trading account once the cheque has been cleared and funds are made available. Margin stop-outs cannot be postponed based on funds that have been debited from your account with your bank, as the cheque needs to be cleared and funds made available and booked into your trading account. Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected]. HSBC Singapore Personal Internet Banking Transfer Please refer to the steps stated below for transfers using HSBC Personal Internet Banking Service. 1. On the field “Transfer to”, select “Transfer to another bank worldwide” from the dropdown list. 2. On the field “Country/territory”, select “Singapore” from the dropdown list. 3. On the field “Bank and branch name”, scroll all the way down to the end and select “Others” from the dropdown list and then manually key in the Bank name and the Bank address. Please DO NOT select “HSBC PRIVATE BANK (SUISSE) SA.” 4. Manually key in all the other mandatory information (e.g. full name of the account holder and account number) in the relevant boxes provided. 5. Please indicate on “Bank to Bank Information” your Saxo Client ID &/or specific Saxo Trading Account Number (if you have more than one trading account). IMPORTANT TO NOTE: Request for Proof of Remittance Please note that we are required under the Anti-Money Laundering rules and regulations to request for and verify proof of remittance from our clients. Although such request may not be made immediately upon making the bank transfer, Saxo Capital Markets reserves the right to request for such proof at a later date. If the client is unable to furnish such proof of remittance within a reasonable period of time, we are entitled to limit or restrict the client’s access to payment via internet banking transfer. No Postponement of Margin Stop-Outs Margin stop-outs cannot be postponed based on funds that have been debited from your account with your bank. Payments into your account are deposited only on the condition that such funds have been cleared and received by Saxo Capital Markets. Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected]. Credit/Debit Cards (available only for subsequent funding, not available for initial funding) We now offer clients the flexibility of funding their trades via credit / debit cards. However, please note that this avenue is not available for first / initial funding. For further information on credit/debit card payments, please refer to our Credit & Debit Card Payment Factsheet at http://sg.saxomarkets.com/Documents/payment-instructions/card-payment-factsheet.pdf. For details as to how you can fund using your credit/debit card, please refer to our Credit & Debit Card Payment User Guide at http://sg.saxomarkets.com/documents/payment-instructions/card-payment-user-guide.pdf. For details relating to other terms and conditions on credit/debit card funding, please refer to our Credit & Debit Card Terms and Conditions at http://sg.saxomarkets.com/documents/payment-instructions/creditcard-terms-conditions.pdf. IMPORTANT TO NOTE: Request for Proof of Remittance Please note that we are required under the Anti-Money Laundering rules and regulations to request for and verify proof of remittance from our clients. Although such request may not be made immediately upon making the credit/debit card payment, Saxo Capital Markets reserves the right to request for such proof at a later date. If the client is unable to furnish such proof of remittance within a reasonable period of time, we are entitled to limit or restrict the client’s access to payment via credit/debit card funding. Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected]. Funds Withdrawal Please note that you can only withdraw funds from your trading account to a bank account held under your name. Saxo Capital Markets is unable to facilitate funds transfers to or from third party accounts. This policy applies to both individual accounts as well as corporate accounts. Both our SaxoTrader and SaxoWebTrader facilitate online withdrawal. For further information, please see our Cash Withdrawal Module Guide at http://sg.saxomarkets.com/Documents/payment-instructions/scm-sg-withdrawalmodule.pdf. If you do not have access to the Cash Withdrawal Module, please go to http://sg.saxomarkets.com/documents/payment-instructions/withdrawal-request-form.pdf to download the Funds Withdrawal Form. Contact us If you require further clarifications on funding, please contact our Cash Management Singapore Team at [email protected].
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