Funds Deposit & Withdrawal

Deposits

You can deposit funds through the below methods:


  • PayNow
  • Fast and Secure Transfer (FAST)
  • DBS/POSB Bill Payment*
  • eNETS Deposit
  • Telegraphic Transfer
  • Credit/Debit Card Payments


PayNow – SGD only

Recommended for customers with a Singapore bank account

Details a. Log in to your internet banking or mobile banking app
b. At the PayNow transfer screen, select “UEN” and enter our UEN number 198305695GSGD
c. Alternatively, scan the QR code below within your mobile banking app to fund your trading account
d. Verify recipient’s name is PHILLIP FUTURES P L – CUSTOMER A/C
e. Enter deposit amount and indicate trading account number as reference
f. Ensure the details are correct and submit


Deposits via e-wallets like DBS PayLah or OCBC Pay Anyone can only be accepted after your Phillip Futures account has been activated.
Speed Successful transfers are credited within 1 hour.


Fast and Secure Transfer (FAST)

Recommended for customers with a Singapore bank account

Details

Recipient’s Bank: DBS Bank Ltd, Singapore

Recipient’s Name: Phillip Futures Pte Ltd

Recipient’s Account Number: 001-048970-4

Comments / Description / Reference / Remarks for Recipient: Trading Account (7 Characters)

Speed Successful transfers are credited within 1 hour.


DBS/POSB Bill Payment – SGD only

Details Log in to Internet Banking > Pay > Pay Bills > Billing Organisation: PHILLIP FUTURES
SpeedSuccessful transfers are credited within 1 hour. Funds received from 11pm-2am will be credited by 2.30am.


eNETS Deposit – SGD only

Details

Log on to Client Portal > eNETS

Speed Successful transfers are credited within 1 hour.


Telegraphic Transfer (TT)

Details

Our bank details can be found here.

Speed Funds are credited when received. Funds received after office hours will be credited by next working day.
Note Please note that USD10 will be charged to your Phillip Futures account for incoming funds received through remittance.


Credit/Debit Card Payments – SGD and USD

Details

Log on to Client Portal > Cards (Visa & MasterCard)

Speed Successful transfers are credited within 1 hour.
More information

For more information, please click here for our Credit/Debit Card FAQ.

To view the Terms and Conditions, please click here.


Fund transfer from Phillip Group Accounts

Details

You may transfer your excess funds from other Phillip Group accounts. Please contact your trading representative or Phillip Securities at (65) 65311 555 or email talktophillip@phillip.com.sg to find out how.


Please ensure that:

  • Payee/beneficiary name is PHILLIP FUTURES PTE LTD
  • Your Phillip Futures account no. (e.g. ABC1234) is indicated under Initial/Reference/Description/Detail/Comment/Remarks
  • Please enter your Phillip Futures account number without any hyphens, punctuation or spaces.
  • Your proof of transfer is emailed to futures@phillip.com.sg. For deposits made for margin calls/low equity purposes, please email the proof of transfer to pfpl_risk@phillip.com.sg.

  • Deposits made to Phillip Futures are not immediately received ​and instructions to liquidate in part or all of your positions may still arise before your funds are credited into your account. To avoid forced liquidation of positions, your deposits must be cleared and booked into your account/trading platform. Please note that liquidation instructions are irrevocable, even though we may be in the process of receiving your funds or crediting them into your account/trading platform.


Additional Notes:

  • For any other query regarding funds deposit, you may contact us at (65) 6538 0500 or email futures@phillip.com.sg.

  • Funds transfers to our Citibank accounts will be credited by the next business day.
  • Supporting document(s) may be required to ascertain the source of funds.
  • An email notification will be sent upon successful crediting of funds.
  • There may be delays in the crediting of clients’ funds arising from delays or service disruptions on the banking service providers’ end.
  • Funds received via telegraphic transfer will be charged a USD10 processing fee.
  • There may be additional fees charged by the bank(s) involved in the processing of the telegraphic transfer. Phillip Futures will credit the actual amount received.

Yes, SGD and USD payment can be done via Credit/Debit card. Simply log in to Client Portal > Cards (Visa & Mastercard).

We accept Singapore, Malaysia and Indonesia issued credit/debit cards. For more information on card payment, please click here.

There is no fee for funds deposited through PayNow, FAST, Bill Payment, eNETS and transfer within Phillip Group.

Telegraphic Transfer

When transferring funds through telegraphic transfer, there will be various banks involved (i.e. remitting bank, intermediary bank(s) and receiving bank). Each of this bank might charge some fees for processing the transfer.

Phillip Futures will charge an addition of USD10 processing fee for funds received through this method.

Credit/Debit Card

The applicable charges for using a credit/debit card top-up are as follows:

  • 2.5% for Singapore issued cards
  • 3.5% for non-Singapore issued cards


The charge is GST inclusive where applicable.

First Time Deposit is not required for Individual/Joint accounts.

For Corporate accounts, the minimum First Time Deposit is at SGD30,000 or equivalent in other currencies.

Successful transfers can be credited instantly, to within 1 hour with the following methods:

  • PayNow
  • Fast and Secure Transfer (FAST)
  • DBS/POSB Bill Payment*
  • eNETS Deposit
  • Credit/Debit Card Payments

*funds received between 11pm-2am will be credited after 2.30am

For transfers from Phillip Securities to Phillip Futures, successful transfers will be credited within the same day, if the fund withdrawal/transfer instruction reaches Phillip Securities before their cut off time. For more information on such transfers, please contact Phillip Securities at (65) 6531 1555.

For telegraphic transfers, the funds generally should be received within 1 to 5 business days. The time taken varies depending on the country or bank the funds are being sent from. Please check with your remitting bank for more details.

An automatic email notification will be sent to you upon successful credit of the funds to your account.

You can fund your account in any of the major currencies. As your account is maintained in USD, Phillip Futures will convert the foreign currency into USD before crediting it into your account.

You can fund your account with any of the following currencies:

  1. Australian Dollar (AUD)
  2. Canadian Dollar (CAD)
  3. Swiss Franc (CHF)
  4. Chinese Yuan Renminbi (CNH)
  5. Euro (EUR)
  6. British Pound (GBP)
  7. Hong Kong Dollar (HKD)
  8. Japanese Yen (JPY)
  9. New Zealand Dollar (NZD)
  10. Singapore Dollar (SGD)
  11. US Dollar (USD)

 

For MT5 users, please note that your account is maintained in USD. Phillip Futures will convert the foreign currency into USD before crediting it into your account.

Phillip Futures maintains bank accounts with DBS Singapore, Citibank N.A Singapore, and HSBC Hong Kong. If you have an account with the same bank for the currency you would like to deposit into your Phillip Futures account, you will be able to transfer the foreign currency without additional charges. Please check with your bank on the option to select for transfers within the same bank.

Click here for Phillip Futures’ bank information.

Please consider faster funding methods such as PayNow or FAST, through which funds can be credited instantly to within 1 hour.

If cheque deposit is the preferred funding method, it can be made directly to Phillip Futures’ bank account (refer to page 2 of the Phillip Futures’ bank details). Phillip Futures does not accept cheques at our offices.

 

Funds will only be credited your account after the cheque is cleared by the bank. For margin calls/low equity situations, cheque deposits will not be taken into consideration until after the cheque has been cleared.

As we need to ascertain the sender of the cheque, please take the following steps when depositing cheques:

  1. Cheque to be made payable to Phillip Futures Pte Ltd, cross the cheque and strike off bearer.
  2. Indicate Phillip Futures’ bank details, your Phillip Futures account number, and your contact number at the back of the cheque.
  3. Take a photo of the front and back of your cheque, and also the deposit slip with bank stamp.
  4. Email the photos to futures@phillip.com.sg.

Cheques deposited without proof will incur a SGD50 cheque image retrieval fee.

Withdrawals

Online withdrawal via the Client Portal

Log into the Client Portal > Fund Withdrawal

  • Check on the currency to be withdrawn
  • Insert the amount you wish to withdraw
  • Select the option of how you wish to receive your fund
  • Click “Submit” to confirm the transfer

 

Please contact our Client Service team at (65) 6538 0500 or email futures@phillip.com.sg if you need help logging into the Client Portal.

 

Complete the withdrawal form

You can download the withdrawal form from our website here. Alternatively, you can obtain a physical copy from our office or request for one from our Client Service team at (65) 6538 0500 or email to futures@phillip.com.sg.

Note:

  • If you had your account approved via the online account opening process, please submit your fund withdrawal request via the Client Portal instead of using the withdrawal form.
  • The cut-off time for online withdrawal submission is 9.15am and hardcopy form is 10am, any submission thereafter will be processed the next business day.
  • For any other query regarding fund withdrawal, you may contact us at (65) 6538 0500 or email futures@phillip.com.sg for assistance.

  • Remittance charges will be borne by the client and will be charged by banks processing the remittance. Phillip Futures does not charge any fees.

We will require a minimum of 1 business day to complete your withdrawal request. For same business day processing, please note the following timings:

Cut-off timings for same day processing

  • For online withdrawal: 9.15 am daily.
  • For withdrawal forms received via email or fax: 10.00 am daily.
  • For SGD withdrawal, the funds will be transferred to your bank account on the day of processing.
  • For foreign currency withdrawal, the duration taken for processing is dependent on the receiving bank.

 

If you submit your withdrawal request before the stipulated cut-off time, it will be processed within the same day. Else it will be processed on the next business day.

Do also provide us with a copy of the corresponding bank statement by sending it to futures@phillip.com.sg or update your bank details with us using the Client Portal if you have yet to do so.

The bank statement should include the following details:

  1. Bank Name
  2. Your Name
  3. Bank Account Number
  4. Statement Date (within 3 months)


For updating using the Client Portal, please refer to the below guide:

Log in to the Client Portal > Update Particulars > Bank Details > click on ‘Update’ > Input bank information and upload bank statement > Submit

You can only withdraw and transfer funds from your Phillip Futures account to a bank account under your name.

Please submit your bank details for verification before performing a withdrawal. Bank account verification process may take up to 2 working days.

Funds from a client’s trading account can only be transferred to a bank account in their name. The bank details are required as verification of proof of ownership before the withdrawal request can be processed.

Log in to Client Portal > Update Particulars > Bank Details

Once your bank details have been verified, you will be able to select your designated bank account on Client Portal for funds withdrawal.

Bank details are required as proof of ownership for each bank account that you provide to us.

The funds in your Phillip Futures Account are segregated from your funds in your Phillip Securities account. You can use the Online Withdrawal facilities in Client Portal to transfer your funds from your Phillip Futures account to Phillip Securities account.  For transferring funds from Phillip Securities to Phillip Futures, please contact Phillip Securities at (65) 6531 1555 for assistance.

Can't find what you are looking for?

Should you have any query, you may contact us at (65) 6538 0500 or
email us at futures@phillip.com.sg