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Frequently Asked Questions
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Account
Opening an Investment Account
1. How do I apply for an account?
2. How do I submit my CPF Statement of Account online?
3. How can I deposit money into my Investment Account?
4. How do I initiate an electronic funds transfer?
5. If I submitted my application through the website, why do I still need to send in the hard copy?
6. What are the eligibility criteria for opening an Investment Account with finatiQ?
7. What is the maximum number of account holders allowed for a joint account?
8. Can I open a joint account if I already have an existing account with finatiQ?
9. How many personal accounts/joint accounts can I open with finatiQ?
10. How many days does it take to open a personal/joint account?
11. How do I know whether my application has been received or approved?
12. Is there a service charge for opening an account?
13. Are there any account maintenance service charges?
14. What are the other fees applicable?
15. Which are the approved list of banks?
Question1: How do I apply for an account?
Answer:
  1. Complete finatiQ’s online account application form
  2. Click on the "Submit" button
  3. Print the form, sign it and send it to finatiQ with the following:

For Singaporeans and Permanent Residents of Singapore
A photocopy of your Singapore NRIC

For Non-Singaporeans
A photocopy of your Passport

Compulsory documents to be submitted (Singaporeans/PRs/Non-Singaporeans)
Any ONE of the following supporting documents:

  • A cheque made payable to yourself in Singapore dollars drawn on your own account1
  • Original CPF Statement of Accounts OR authorise the CPF Board to release your Statement to finatiQ online
  • An original and recent bank statement (within the last 3 months) from the list of approved local banks and foreign banks.
  • An original and recent mobile phone bill2 (within the last 3 months)
Optional documents
  • A copy of a valid Work Permit/Employment Pass/Student Pass/Dependent Pass3 (for Non-Singaporeans)

Notes:

1 The cheque must bear your name as drawer of the cheque OR your signature matching to that appended on your account application form.

2 Approved Service providers: M1/Singtel/Starhub Mobile (Singnet or SCV bills are not accepted)

3 Despite the above being stated as an optional document, you may however be required by us to furnish this document in our sole and absolute discretion.

If there is no access to a printer, just indicate this on the form and finatiQ will send you the form for your signature.

Upon receipt of all supporting documents and duly signed account application form, they will be sent for processing which usually takes 2 business days. A confirmation email from finatiQ will be sent immediately upon approval or rejection of the application.

 
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Question2: How do I submit my CPF Statement of Account online?
Answer:
To submit your CPF Statement of Account online, you will need your SingPass. If you do not have one, you may want to apply at eCitizen website or SingPass Online Request. If you have already submitted your application to open an Investment Account, click here and follow the instructions provided.
If not, after you have submitted your application to open an Investment Account, you will find a link on the last page of the account opening process, requesting you to authorise CPF Board to release your statement to finatiQ online. Click on it and follow the instructions provided. CPF Board will release the statement directly to finatiQ after that.
 
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Question3: How can I deposit money into my Investment Account?
Answer:
There are three ways of funding the Investment Account:
  • Cheque deposit
  • Transfer funds electronically from another bank account via Internet Banking/MEPS transfer (see next question)
  • Transfer funds from one finatiQ account to another (e.g. from a personal account to a joint account)

 
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Question4: How do I initiate an electronic funds transfer?
Answer: To initiate a transfer, the finatiQ account number is required. New applicants can request the account number by calling finatiQ's hotline at (65) 6438 3883 one day after submitting your online application. Call the existing bank and:
  • Request for an electronic funds transfer (MEPS transfer) to Singapore Island Bank Limited (Attention: Investment Operations)
  • State the amount to be transferred
  • State the purpose of the transfer as "open an account with finatiQ"
 
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Question5: If I submitted my application through the website, why do I still need to send in the hard copy?
Answer:
Yes.  Due to regulatory requirements, finatiQ needs applicant's signature and supporting documents to open an account.
 
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Question6: What are the eligibility criteria for opening an Investment Account with finatiQ?
Answer:
Applicant must be at least 21 years of age.
 
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Question7: What is the maximum number of account holders allowed for a joint account?
Answer:
The maximum number of account holders for an account is four.
 
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Question8: Can I open a joint account if I already have an existing account with finatiQ?
Answer:
Yes.
 
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Question9: How many personal accounts/joint accounts can I open with finatiQ?
Answer:
Each applicant can only open one personal account with finatiQ.  There is no restriction on the number of joint accounts to be opened.

Note: 1) Unit trusts included under the CPFIS must be invested through a personal account.
         2) You will hold only one set of User ID and password to log in to check both your personal and joint accounts.

 
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Question10: How many days does it take to open a personal/joint account?
Answer:
It takes approximately 2 working days upon successful submission. The User ID will be emailed to you and the password will be sent by conventional mail.
 
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Question11: How do I know whether my application has been received or approved?
Answer:
A confirmation email from finatiQ will be sent immediately upon approval or rejection of the application.
 
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Question12: Is there a service charge for opening an account?
Answer:
No, there is no service charge.
 
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Question13: Are there any account maintenance service charges?
Answer:
No, there are no account maintenance service charges. However, finatiQ does reserve the right to levy service charges in future.
 
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Question14: What are the other fees applicable?
Answer:
Document/Statement Retrieval Charges (for each monthly statement)

  • Free for the current and previous month
  • S$20 for retrievals of less than 1 year ago
  • S$30 for retrievals between 1 to 3 years
  • S$50 for retrievals of more than 3 years ago
 
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Question15: Which are the approved list of banks?
Answer:

Please click here for list of approved local banks and here for list of approved foreign banks by Monetary Authority Board of Singapore.

 
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