What are the Agent Bank charges?
These are charges levied by the Agent Bank of your CPF Investment Account (DBS, UOB, OCBC).
* Please note that Agent Bank charges are GST applicable
Benefits of investing via a CPF Investment Administrator
As our partner broker, UOB Kay Hian, is a CPF Investment Scheme (CPFIS) included Investment Administrator (IA), Endowus clients will be charged lower Agent Bank fees as compared to investing via a non-IA.
UOB Kay Hian can draw a consolidated amount of funds directly from your CPF agent bank for all your CPF investments. This means that you will be charged a transaction and service fee on a portfolio basis, rather than on a per security basis, and no transaction fees for rebalancing or switching of portfolios.
I.e. If you buy 7 funds for your portfolio, you will only be charged up to S$2.50 for the transaction, rather than S$2.50 per 1000 units of fund x 7 (subject to a maximum of S$25). You will also be charged a service fee of up to S$2 per quarter for your portfolio, rather than S$2 x 7 = S$14.
* Please note that Agent Bank charges are GST applicable