DBS helps you safekeep your securities at a nominal fee. We call this a custody fee.
DBS Treasures started charging custody fees since January 2015, details are listed in our DBS Treasures Pricing Guide when you first joined us.
Please refer to the DBS Treasures Pricing Guide for the details.
DBS uses multiple custodians to safekeep your securities. The 0.20% per annum or minimum SGD100 per market (subject to GST at the prevailing rate, where applicable) is a flat rate to you and does not equate to the actual custodian expenses incurred by the bank.
The following types of investments have custody fees: 1. Debts Securities and Structured Notes 2. Exchange Listed Securities For more details, please refer to our DBS Treasures Pricing Guide.
From 01 January 2021 onwards, custody fee for Investment Funds held with DBS Treasures will no longer be charged, regardless of the Funds’ availability on the DBS Funds Platforms.
Custody fees are charged twice a year in: 1. August (for January – June) 2. February of the following year (for July – December) Please be reminded to have enough funds in your Multi-Currency Settlement Account (MCSA) so that the account does not go into overdraft on the settlement date of the custody fees.
Custody fees are calculated on the last day of every month and then accumulated for the first half of the year (January – June) and the second half (July – December).
The following formula is generally applied:
a) Monthly Custody Fee = [(Month-end Quantity) x (Month-end Price) x (Custody Fee Rate) x (Month-end FX Rate to SGD) (if applicable)] / 12
b) Add up the monthly custody fees from January to June or from July to December to get the total amount of custody fees that is chargeable for the past 6 months.
For example, at the end of 6 months, if the calculated amount is SGD50 for Malaysia market, SGD150 for Hong Kong market, and SGD200 for US market, a total of SGD450 for custody fees will be charged [Malaysia Market = SGD100 (minimum charge applies), Hong Kong Market = SGD150, US Market = SGD200].
Please note that the custody fees will be subjected to GST at the prevailing rate, where applicable.
If the bond is transferred out of the Wealth Management Account before month end, then no custody fee will be charged for the bond in August.
Custody fees will be charged for January and February. It will be debited from your Multi-Currency Settlement Account (MCSA) in August.
Any applicable custody fees will be computed and charged at the point of Wealth Management Account closure. There will not be any custody fee charged after the account is closed.
All custody fees are charged in SGD by default unless you have instructed the bank to amend the fee currency on your portfolio previously.
Yes, you will receive a debit advice upon successful debiting of your Multi-Currency Settlement Account (MCSA).
DBS Treasures will inform you of any updates to our DBS Treasures Pricing Guide through messages in your monthly statements.
Information is correct as at 29 November 2023.
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