The status of your account has changed—your action is required.

Schwab and Ameritrade are now part of the same company, and your account has moved to Schwab Singapore. Review your options for managing your account moving forward.

In order to invest with Schwab Singapore, you must become an Accredited Investor.

We welcome the opportunity to continue serving you, but because Schwab Singapore will focus on Accredited Investors only, your account is currently restricted. To continue investing with us, learn more about becoming an Accredited Investor. 

If you're already an Accredited Investor and have set up your Schwab credentials, you may log in now.

If you're already an Accredited Investor who has not yet set up your Schwab credentials, please go to TD Ameritrade Authentication to do so.

If you are not an Accredited Investor, you must transfer or close out your account.

If you do not wish to become an Accredited Investor or do not meet the requirements, you'll need to close your account as soon as possible. We are grateful for the opportunity to have served your investing needs over the years.

The first step to transferring or closing your Schwab account is to set up your login ID and password.

Once you've set up your credentials, there are two choices for closing your account:

Transfer your account to another financial institution.

In this case, request an account transfer form from the receiving firm to initiate the Transfer of Assets (TOA). Once you've initiated your request, Schwab can help them facilitate the transfer.

To complete your transfer, you will need your Schwab Account Number, which will be provided when you create your credentials.

Liquidate your positions and wait for the trades to settle in your account.

Once trades have settled and funds are cleared, you can have the funds sent to you. 

You can place an international wire transfer by following the instructions outlined in this video. You will also need to complete this form to verify your request for a foreign wire transfer.
 

Get answers to common questions.

Account administration

You can no longer fund or trade through your account. You can only transfer your account to another financial institution or liquidate your positions and have the funds sent to you by the method of your choice, as outlined above. 

You can call our Charles Schwab Singapore office to discuss what options are available to you at +65 6021 8070

If you do not have a valid W8 for your account prior to closing your positions, you may be subject to a 30% withholding tax. Please log in on the Schwab website to complete your W-8BEN information and supporting documents. Completing this form in advance will help assist in transferring your assets to a new financial institution.

When there is no valid W8 on file, we must withhold a portion of the proceeds under IRS regulations. Please check that you have completed your W8 promptly. If the W8 associated with your account’s file has expired, you will need to contact the U.S. IRS to claim back withheld funds. Please download the W-8BEN form to complete your W-8BEN information and supporting documents and send the completed form to us. You may submit your form electronically on the Schwab website.

Withdrawal of funds

You can place an international wire transfer by following the instructions outlined in this video. You will also need to complete this form to verify your request for a foreign wire transfer. 

If this is your first time withdrawing funds to a particular bank account or if this is the first withdrawal request with your Charles Schwab Singapore account, we require a recent bank statement reflecting your full name and bank account number. This is meant to verify ownership of the bank account. 

You will need to complete a form to verify your request for a foreign wire transfer

NOTE: If this is your first-time withdrawing funds to a particular bank account or is the first withdrawal request from your account, we will also require a recent bank statement reflecting your full name and bank account number. 

This is meant to verify ownership of the bank account. You can email the statements and completed form to us www.schwab.com.sg/contact-us. A hard copy is not required to be sent to us. Please ensure that the form is correctly filled out and signed in pen. 

 

Yes, you can. After completing the online wire transfer request, please fill out the Letter of Authorization form, which can also be found during the online request submission. You can send the form by replying to the email that you will receive after submitting the online wire transfer request. A hard copy is not required to be sent to us. Please ensure that the form is correctly filled out and signed in pen. Do return it with a copy of your NRIC (front and back) with your signature and date on it.

Withdrawal may be made to a bank. You will have to withdraw your funds to your bank account under your name. Do note we are unable to send funds to Wise, Revolut, forex brokers, and similar money exchanges.

No, you cannot send funds to a third party. Funds must only be sent to your bank account under your name.

Wire withdrawals are normally received within 1-3 business days. However, please note that this may be extended to 1-2 weeks if additional verification is required.

For full account withdrawals of funds, Charles Schwab Singapore will waive the transfer out fee. Note that we may reserve the right to charge a wire fee for partial wire withdrawal requests. Please also note that you may still be subject to incoming wire charges or currency conversion fees by the receiving bank. 

Yes, Charles Schwab Singapore offers withdrawals in a variety of foreign currencies.

No, the Singapore office does not issue checks or offer cash withdrawal services.

Transfer of assets (TOA)

Request an account transfer form from the receiving firm to initiate the Transfer of Assets (TOA). Once you've initiated your request, Schwab can help them facilitate the transfer.

An ACAT transfer is normally the easiest and simplest method used to transfer brokerage accounts between U.S. banks and brokerages. The ACAT transfer request can be used to transfer both positions (excluding futures positions) and cash. If you wish to transfer your Charles Schwab Singapore account to a U.S. financial institution, you can initiate an ACAT transfer request from the receiving financial institution after successfully opening an account with them.

Generally, transfers to U.S. financial institutions are completed through the ACAT system. Asset transfers to non-U.S. institutions are done through the DTC systems and may take longer to process. Options positions may only be transferred through ACAT. 
 

These may normally be transferred as part of an ACAT transfer to a U.S. bank or brokerage. However, you will need to check with the receiving financial institution as to whether your option positions at Charles Schwab Singapore can be supported on your receiving brokerage account, as you may not have the same options approval level on the receiving brokerage account. 

Some brokers may not accept all position(s) on your Charles Schwab Singapore account. You can share your Charles Schwab Singapore statement with your receiving broker to determine what securities they will accept. Any suspended or non-transferable securities can be left on your Charles Schwab Singapore account for delisting or corporate action resolution.

A margin loan may normally be transferred as part of an ACAT transfer to a U.S. bank or brokerage. However, you will need to check with the receiving financial institution as to whether the margin loan can be supported on the receiving brokerage account. For a DTC transfer, you will need to settle any margin debit balance on your Charles Schwab Singapore account prior to a DTC transfer request being processed.

No, you may not transfer your account to a third party. Transfer of account must only be to like-titled account under your name. 

Have more questions? We're here to help.

Call

Phone: +65 6021 8070

 
Singapore support:
Monday – Friday, 9:00 am to 5:30 pm (SGT)

 
U.S. support:
24x5 Customer Service
Monday 1:00 am to Saturday 1:00 am (U.S. EST)

Visit us

Charles Schwab SG Pte. Ltd.
8 Marina View
#12-01 Asia Square Tower 1
Singapore 018960
 

Office hours
Monday-Friday, 9:00 am to 5:00 pm (SGT)