Methods of deposit
Deposits by cheque should be made payable to the beneficiary name indicated in the Banking SSI (Bank Standard Settlement Instruction for Client).
Please adhere to the following guidelines for deposit by cheque:
- Please indicate your trading account number, name of account holder and contact number on the back of the cheque.
- SGD cheques and USD cheques must be drawn from a bank in Singapore with Local (Singapore) clearing.
- Please provide a copy of the front and back of the cheque before depositing.
- Please deposit the cheque without the deposit/credit slip.
- Please do not deposit post-dated cheque.
Please refer to the Banking SSI (Bank Standard Settlement Instruction for Client).
Please note that all bank fees incurred in the remittance of funds to OFIS shall be borne by the customer. Due to bank remittance fees charged by the banks, the quantum of funds received by OFIS for deposit into your account may be lower than the transferred quantum of funds.
*Please note that all bank fees incurred from the remittance of funds by OFIS shall be ultimately borne by the customer. OFIS will transfer the specified quantum set out in your Funds Withdrawal form to your account and charge all bank remittance fees in a separate transaction.
Cut Off Time Information *
|JPY, AUD||16:00 SGT (value tomorrow)|
|CNH (CNY Offshore) & HKD||13:30 SGT (value same day)|
|EUR, SGD, USD, GBP||16:00 SGT (value same day)|
*All requests for withdrawals are subject to the terms and conditions of OFIS’ Client Agreement. Requests made after the above cut-off times or on a day designated as a public holiday shall be effected on the next working day. Requests made on Fridays (after cut-off times), Saturdays, or Sundays, shall be effected on the following Monday, or the next working day where Monday is a public holiday.
Bank Standard Settlement Instruction
Protection of Funds
Your money is protected. To read more, click here
- Your money is held in segregated accounts at regulated banks
- We don’t use your money for our own business activity
- Your money is protected from our creditors
Need guidance or have questions before opening an account?
Our friendly client services team is available to answer your queries anytime.