DBS - Weird 'Offline' Hours for 'Online' Transfers

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  1. #1

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    DBS - Weird 'Offline' Hours for 'Online' Transfers

    Really not sure why they would want to do this..

    Figured this out the hard way in Friday night.

    Apparently you cannot transfer funds from your say, USD or GBP (foreign currency savings) to your iWealth account to buy stocks.

    Same account holder and same currency from savings to investment account.

    With the holidays, the transfer transaction will complete on Wednesday.

    Anyone have an idea why they would want to put this restriction?


  2. #2

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    Perhaps just in case they don’t actually have the forex and need to buy it themselves ?


  3. #3

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    No idea why.


  4. #4

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    Ifitmakesyoufeelbetter


  5. #5

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    Found the page with the time restrictions. Just odd.

    https://www.dbs.com.hk/personal/depo...-fund-transfer


  6. #6

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    @shri, are all these accounts in the same subsidiary ?


  7. #7

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    Without getting too technical.. Should be same subsidiary. Would have to check extremely fine print.


  8. #8

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    HSBC used to have the same restrictions for their "24 hour currency conversion". Haven't exchanged foreign currency in a while, so not sure if that's still the case.


  9. #9

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    Not currency conversion.. From USD savings to USD stocks/investment acct.


  10. #10

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    Quote Originally Posted by shri
    Without getting too technical.. Should be same subsidiary. Would have to check extremely fine print.
    Shri, not a world class problem, but I would appreciate if you can let us know the reason, when you figure it out.
    For the intel.

    *edit @shri
    Last edited by jrkob; 28-01-2020 at 12:09 AM.