A fuss-free way of dollar cost averaging your investments by investing regularly and at an amount predetermined by you


If you are looking at investing consistently, you may want to explore setting up a Regular Savings Plan (RSP) with us. It is a relatively fuss-free way of dollar cost averaging (DCA) your investments by investing regularly and at an amount predetermined by you. For existing customers, there are only 2 steps that you need to take for you to get your RSP started:

1.  Set up/manage a recurring investment on Endowus platform

2. Link your CPFIS account and SRS account with Endowus (for CPF and SRS  account) or set up recurring transfers from your bank account to your UOB KayHian (UOBKH) account (for cash)

For CPF and SRS trades, UOBKH will be able to withdraw funds on the next business day once the recurring investment goal has been set up. he guide below is structured as follows:

1. Starting a Regular Savings Plans for Cash

2. Starting a Regular Savings Plans for SRS

3. Starting a Regular Savings Plans for CPF

4. Managing your Recurring Investment

5. Appendix 1 - Transferring Cash into your UOB Kayhian Account for cash RSP

Setting a monthly transfer with

i)  DBS

ii) OCBC

iii) UOB



Steps for Starting a Regular Savings Plans for Cash

Step 1: Set up an investment goal first, at the risk level you are comfortable with, if you have not. Make sure that the goal you set up is at a risk level that you are comfortable with.

Step 2: Set up a monthly transfer to fund that goal. Go to Appendix 1 to find out more on how to set up your monthly transfer with your preferred local banks. You can also set up a monthly transfer with any other banks.

Step 3: Under “Invest | Redeem” in the side bar, go to “Invest” and select the Goal stated in Step 1. That would be the goal that you want to do a Regular Savings Plan with.


Step 4: Select “SGD Cash” under the “Select Account” to determine your source of funding for the investment.


Step 5: Fill in the three fields circled in red.


Step 6: Edit the amount of recurring investment for your regular savings plan if you want to. This page provides you with projections of your investment value growth, given your recurring investment amount. Remember to click “Save”.


Step 7: Click “Send Verification Code” and complete the rest of the process so that changes made can be processed. The monthly amount will be reflected in the “Confirmation” page, along with the name of the goal and the funding account.



Steps for Starting a Regular Savings Plans for SRS

There are 3 prerequisites you have to meet first:

1. You must set up an SRS account
2. That SRS account must be funded
3. The SRS account has to be linked with your Endowus account.

If you have not done so, under the sidebar, go to Fund Transfers > Your Linked Accounts > Supplementary Retirement Scheme (SRS) Account and key in the relevant details.

Steps are as follows:

Step 1: Follow Step 1, 2 and 3 of the RSP for Cash

Step 2: Select “SRS” under the “Select Account” to determine your source of funding for the investment.

Step 3: Follow Step 5 to 7 of the RSP for Cash Plan, and you are done.


Do note that there is no need for you to transfer SRS monies into your UOBKH account as the funds will be withdrawn directly by UOBKH. Please ensure that for all one-time or recurring investments, there are sufficient funds in your SRS. Agent bank charges will apply for any failed investments due to insufficient funds.

Also note that you will not be able to do a monthly transfer by standing instruction between your bank account and SRS account. There are thus two options:

1. Manually transfer a sum every month into your SRS account.
We recommend that:

   a. You could make this transfer every time you pay your monthly bills e.g. credit card bills. Set a Google calendar reminder that repeats every month if it helps.

   b. Set the Endowus platform recurring investment date about 4 to 5 working days after funding your SRS account.

3. Transfer a large lump sum at  year end to fund your SRS recurring investment over the next 12 months. Please note that uninvested cash in SRS account only earns 0.05% interest per annum. We recommend you to invest as soon as possible.

Steps for Starting a Regular Savings Plans for CPF

Step 1: Follow Step 1, 2 and 3 of the RSP for Cash

Step 2: Select “CPF OA” under the “Select Account” to determine your source of funding for the investment.

Step 3: Follow Step 5 to 7 of the RSP for Cash Plan, and you are done.


Again, do note that there is no need for you to transfer CPF monies into your UOBKH account as the funds will be withdrawn directly by UOBKH. Please ensure that for all one-time or recurring investments, there are sufficient funds in your CPF (invested amount must be more than balance above CPF OA minimum of $20,000). Agent bank charges will apply for any failed investments due to insufficient funds.

Stopping or Editing your Regular Savings Plans on Endowus

Now that you have finished setting up your RSP, you may want to make changes to your recurring investment.

For cash RSP, please also make changes with the monthly transfer from your banks while you adjust your Recurring Investment on Endowus. Insufficient  investments will not be executed.

Steps for Stopping or Editing your Regular Savings Plans on Endowus

Step 1: Under “Invest | Redeem” in the side bar, go to “Manage Recurring” and select the Goal you want to adjust.


Step 2: Choose betweenStop” or “Edit” for your recurring investment.


Step 3: This page provides you with projections of your goals given the change in your recurring investment amount. If you choose to edit the amount of recurring investment for your regular savings plan, remember to click “Save”.


Step 4: The new monthly Amount will be reflected in the “Confirmation” page, along with the previous amount. Remember to click “Send Verification Code” and complete the rest of the process so that changes made can be processed.




Appendix 1 - Transferring Cash into your UOB Kayhian Account for cash RSP

i. Finding your UOBKH Deposit Details

You can find Wiring Instructions for your UOBKH Trust Account under “Fund Transfers” in the sidebar.


Setting up a monthly transfer with DBS

Step 1: Under the “Transfer” tab, click on “More Transfer Services”.

Step 2: Under “Other Services” click on “Set Up Standing Instruction”.


Step 3: Complete Authentication

Step 4: Under the “Other Bank” option, click on “Add New Payee”


Step 5: Use the Copy feature on Endowus’ “Funds Deposit” page to copy over the relevant fields for “Recipient’s Name” and “Recipient’s Account”. UOB’s Bank Code is 7375.


Step 6: Copy over the Account Name and Reference Code to the relevant fields


Step 7: Standing Instructions require one business day to take effect, so do allocate some buffer time between the “First Payment Date” on DBS, and the stipulated date on Endowus. Do ensure that the specified Payment Amount matches the Recurring Investment amount saved into your Endowus console, as trades will only be cleared when there is a sufficient balance in your UOBKH account.


Step 8: Confirm and submit.

ii. Setting up a monthly transfer with OCBC

Step 1: Click on “Payments & transfers”

Step 2: Click on “Add & manage payees”, and then on “Add account”


Step 3: Use the Copy feature on Endowus’ “Funds Deposit” page to copy over the relevant fields for “Recipient’s Name” and “Recipient’s Account”.


Step 4: Go through authentication

Step 5: Navigate to “Make a transfer” + “to an account” and “to another bank in Singapore”

Step 6: Do ensure the following:

  • Match the specified Payment Amount to the Recurring Investment amount saved into your Endowus console, as trades will only be cleared when there is a sufficient balance in your UOB Kay Hian account.
  • Set the frequency to “Monthly”
  • Set a suitable time frame after which you will review the performance of your portfolio as there is no perpetual transfer option for OCBC’s recurring payments
  • Allocate some buffer time between the Payment Date on OCBC and the stipulated date on Endowus, as it may take some time for the rules to take effect.


Step 7: Click on Next, then Submit

iii. Setting up a monthly transfer with UOB

Step 1: Navigate to “Pay and Transfer”, then “Transfer Funds”. Click on the “Add Payee” button as shown below.


Step 2: Use the Copy feature on Endowus’ “Funds Deposit” page to copy over the relevant fields for “Recipient’s Name” and “Recipient’s Account”. Set the Bank to United Overseas Bank.


Step 3: Submit, review your new payee details, and click on “Transfer Funds”.


Step 4: Ensure the following:

  • The specified Payment Amount matches the Recurring Investment amount saved into your Endowus console, as trades will only be cleared when there is a sufficient balance in your UOBKH account.
  • Set the date of the transfer, and check the “Recurring” box
  • Allocate some buffer time between the Payment Date on UOB and the stipulated date on Endowus, as it may take some time for the rules to take effect.
  • Set the frequency to “Monthly”, and “Repeat” status to “Perpetual”


Useful Links

Finally, these pages have the most up-to-date information on setting up recurring funds transfers:

DBS

https://www.dbs.com.sg/personal/support/bank-local-funds-transfer-setup-recurring-funds-transfer.html

OCBC

Under Recurring Transfer

https://www.ocbc.com/personal-banking/online-banking/funds-transfer.html

UOB

Under Funds transfer

https://www.uob.com.sg/personal/eservices/pib/services.page