ELECTRONIC PAYMENT OF SHARES (EPS)

Payment for sales and purchases.

Online access. Your convenience.

Electronic Payment

Enjoy a convenient way of paying for your share purchases and receiving payment from the sale of your shares.

You can now pay for your share transactions via Citibank Online.

Benefits

Payment of Shares and Receipt of Proceeds Made Easy

Enjoy greater convenience, as there is no need to bank-in the cheques received from the sale of shares. Payments via Citibank Online can be executed anytime from the comfort of your home.

Retain full control on what to pay to the participating stockbrokers.

Faster Access to Share Sales Proceeds

Sales proceeds are immediately available on settlement date. There is no time lag and you start to earn interest from the settlement date once the funds are credited into your Citibank deposit accounts.

No Fees for Payment and Receipt

Electronic Payment of Shares is free. There are no charges levied for payment for share purchases or receipt of proceeds from sale of shares.

How to Apply
  • Obtain the EPS Application Form from your stock broker to link your Citibank SSD-denominated deposit account to your share trading account.
  • Complete the EPS application form and return it to your stockbroker.
  • Your stockbroker will send your EPS application to CDP to inform Citibank of the application.
  • Citibank will process the request and link your designated Citibank account to your Trading Account.
  • When the registration process is completed, your broker will notify you in writing.
  • Log on to Citibank Online to view your share sale proceeds and make share purchase payments.

Please liaise with your stockbroker to obtain the EPS Application Form to link up your Citibank SGD-denominated deposit account to your share trading account. Complete the EPS application form duly signed and returned to your stockbroker.

* The registration process will take between 1 to 2 weeks. During this period, the settlement of trades will be in cash or cheque. If you already have an existing EPS arrangement with another bank, there will be an additional de-registration period of 1 to 2 weeks.

FAQ

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The Singapore Exchange facilitates the transfer of SGD-denominated funds between an investor's designated bank account with a participating bank and his broker's bank account for the purpose of share Sales/Purchase settlement. This scheme is commonly known as Electronic Payment of Shares.

The EPS service allows for the automatic credit of the customer's bank account on trade settlement date for Share Sales or Contra Proceeds. For share purchases payment, customers can log into Citibank Online and use the secured EPS payment function to make payments either as a lump sum or by contract amounts.

Citibank Singapore is the first foreign bank to provide this service besides DBS/POSB, UOB and OCBC.

When I sell my stocks listed on SGX:

EPS facilitates the direct crediting of payment in Singapore dollars into your bank account after you have sold your shares.

Citibank will receive instructions from your stockbroker to credit your designated bank account with the amount due to you for the share sales proceeds. After initiating payment, your stockbroker will send you the sales contract note/s indicating the amount paid in Singapore dollars and the date it will be credited into your designated bank account.

When I purchase stocks listed on SGX:

EPS provides a facility for you to make payment in Singapore dollars via Citibank Online to your stockbroker for shares purchased. Once you have received your contract note, you may make payment for your shares via Citibank Online.

  • Faster Access to Share Sales Proceeds:Sales proceeds are immediately available on settlement date. There is no time lag and funds start to earn interest from settlement date once it has been credited into your Citibank deposit accounts
  • For example, if a cheque is sent to you promptly after due date (i.e. Due Date + 1 market day), you will receive it the following day (i.e. Due Date + 2 market days) and assuming you deposit it the day after (i.e. Due Date + 3 market days), your funds will be available to you on the fourth day after due date (i.e. Due Date + 4 market days). Under EPS, you will have access to your funds on the next working day after due date (i.e. Due Date + 1 market days).
  • Greater convenience as there is no need to bank-in the cheques received from the sale of shares. Payments via Citibank Online can be executed anytime from the comfort of your home.
  • Customers retain full control on what to pay to the participating stockbrokers. The EPS scheme is not a GIRO service.
  • Assurance:
    Payment will be credited into your designated Citibank account for your sales of shares or debited from your Citibank account to their stockbroker for shares bought. Customers need not worry about their shares bought being force sold due to misplaced cheques or cheques lost in the mail. With EPS, the stockbroker will receive the payment on the market day after the customer initiates the payment.

Please liaise with your stockbroker to obtain the EPS Application Form to link up your Citibank SGD-denominated deposit account to your share trading account. Please complete the EPS application form duly signed and returned to your stockbroker. The registration process will take between 1 to 2 weeks. If you already have an existing EPS arrangement with another bank, there will be an additional de-registration period of 1 to 2 weeks.

EPS applications are processed by The Singapore Exchange Securities Trading Limited on a weekly basis, i.e. on every Friday. However, if Friday is a public holiday, the application will be processed the next working day, i.e. Monday (if it is a working day). You will be advised in writing when the linkage of your designated Citibank account to your Trading Account has been activated. Please be advised that prior to approval, settlement of trades will be in cash or cheque.

Thereafter, share sale proceeds will be automatically credited into your registered bank account. For share purchase payment, please proceed to Citibank Online to effect the payments.

No, the EPS Service is only available on Citibank Online for share purchase payments.

No, there are no fees levied by Citibank for the EPS Service.

Yes, you can view all your outstanding contracts of your share trading account that is linked with your Citibank deposit account. Please note that your contracts will be removed from the outstanding records after the due date of T+3, regardless if you have paid for the contract or not.

You will be able to choose from 2 payment options via EPS through Citibank Online. You could pay by individual contracts or choose to pay any amount to your broker via the lump sum payment option.

For EPS made before 2130 hours (Singapore Time), your broker will receive the payment on the next working day. For EPS made after 2130 hours (Singapore Time), your broker will receive payment 2 working days later (for Friday, Saturday, Sunday and eve of public holidays, your broker will receive payment on the next working day regardless of the time of transaction).

Your paid contracts through EPS will only be excluded from the contract table after your broker acknowledges the receipt of your payments. In the event that the service is unavailable or unsuccessful, please try again later.

Yes. You may designate a Joint AND/OR account to apply for the EPS facility. However, please note that Joint AND Only accounts cannot be used to effect EPS payment.

Yes. You can choose to make payment via cash, cheque or telegraphic transfer if you do not wish to initiate payment via EPS through Citibank Online.

Yes, but you have to pay in Singapore dollars. The contract value is then expressed in the Singapore dollars equivalent and you can make payment through EPS. The FX rate applied on your payment and receipt from sale of shares will originate from the stockbroker.

Click here for step by step guide on how to make EPS payment via CBOL