When using Tiger Brokers, one of the key advantages is that neither Tiger Brokers nor its receiving bank partner, DBS, charges any fees for deposits into your account. This makes it easier for clients to transfer funds without worrying about extra charges from the broker’s side.
What Fees May Apply?
Although Tiger Brokers, a broker online, does not charge deposit fees, it’s important to note that fees may still be incurred by other parties involved in the remittance process. Specifically:
Your Remittance Bank: If you’re transferring funds from your bank to Tiger Brokers, your own bank may charge a fee for processing the transfer, particularly for international or cross-border transactions.
Intermediary Banks: In some cases, intermediary banks may be involved in facilitating the transfer, especially for international wire transfers. These intermediary banks may charge additional fees for handling the transaction, which can reduce the amount you receive in your Tiger Brokers account.
What to Do?
To understand exactly what fees may apply to your deposit, it’s best to consult with your remittance bank or check the terms and conditions provided by your bank for international transfers. Since fees can vary depending on the bank and the type of transfer, it’s important to have this information upfront to avoid surprises. To minimize fees and ensure that your deposit arrives without any unexpected deductions:
Check with Your Bank: Ask your bank about any fees they may charge for domestic or international transfers, including any intermediary bank fees.
Confirm Bank Details: When making an international deposit, ensure that all details, including the currency and recipient bank information, are correctly filled out to avoid any unnecessary fees or delays.
Conclusion
While Tiger Brokers and DBS do not charge any fees for deposits, fees may still apply depending on your remittance bank and any intermediary banks involved. To avoid unexpected costs, always confirm the fees with your bank before initiating a transfer. This ensures that your deposit arrives in full and without any surprises.
