Click Online Payment
Log in to the UTRADE website. In the top row of menus, click Online Payment.
This is the page for money moving in and out. Nothing here can buy or sell a share.
Step-by-step guide
Money in,
money out
Putting money into your trading account is a deposit. Taking it back to your bank is a withdrawal. Both are done from the website, and both take a few clicks.
The waiting is the part people get wrong. Neither one is instant, so plan ahead of the trade you want to make.
I
Where the money sits
Figure 1
Your money makes two stops. The trading account is not your bank account, and shares can only be bought with money that has already arrived there.
One bank account only. Money can only be withdrawn to the bank account you registered with UOB Kay Hian. You cannot send it somewhere else. To change the account, ask UOB Kay Hian first; it is a form, not a setting.
II
Depositing money
Seven steps, on the real screensClick the Deposit tab
Three tabs appear: Outstanding Contract, Payment History and Deposit. Click Deposit.
Read the grey notice at the top of this page. It tells you the FPX cut-off times, and those decide whether your money is credited today or tomorrow.
Insert the amount
Check the Client Code is your account, then type the amount into Deposit Amount.
FPX Charges shows what the transfer costs you. It reads 0.00 here.
Press Continue to Payment
The red Continue to Payment button sits on the right.
Read the amount once more before you click. An extra zero here is a real transfer out of your bank.
Select your bank
You are now on the FPX page. Check Total Cost matches the amount you typed, then choose your bank from Select Bank.
Your email is filled in already. The payment receipt goes there, so make sure it is one you can open.
Press Proceed
Press Proceed and you are handed to your own bank’s login page. Everything after this is your bank’s normal verification: password, then the approval on your phone.
There is a timer on this page. If it runs out, start again from the Deposit tab.
Keep the receipt, then wait
When the bank says the payment succeeded, save or screenshot the receipt.
The money usually appears within 24 hours, shown as your available cash on the order screen. Not there after 24 hours? Send me the receipt and I will have it checked. Do not send a second payment.
III
Withdrawing money
Five steps, on the real screensOpen My Account, then Trust Withdrawal Application
Click My Account in the top menu. A list drops down: Account Summary, Contract, Cash, Bills, Statement of Account, Margin Statement, Trust Withdrawal Application, Trust Withdrawal Status.
The wording is unusual. Your cash sits in a trust account, so this is the withdrawal form.
Check the client code, then press Go
The page opens with your Client Code already selected. Leave the date and currency as they are and press the red Go button.
This only looks up your account. Nothing is withdrawn yet.
Press Withdrawal
Your trust account balance now appears in the table. Two red buttons sit at the bottom right.
Press Withdrawal. Exit closes the page without doing anything.
The figures in this screenshot are covered up. Your own balance will show in those columns.
Key in the amount, then Submit
The form shows your Available Trust Amount — the most you can take out. Type what you want into Withdrawal Amount, leave Type as Online Transfer, and press Submit.
Read the Important Note on that page. Two things in it matter:
The amounts in the screenshot are covered up. Yours will show your own balance.
A request must be covered by settled cash. Money still tied up in a sale or an open position does not count.
Submit before 10:00am for same-day processing. Later than that, or on a non-working day, and it is handled the next working day.
Wait two to three working days
The money goes to the bank account you registered with UOB Kay Hian. Nowhere else.
You can follow it under Trust Withdrawal Status in the same My Account menu.
Longer than three working days, weekends and holidays aside? Tell me and I will chase it.
IV
What usually goes wrong
Depositing on the morning you want to buy
It can take up to 24 hours to arrive. Fund the account the day before, not the day of.
Sending a second payment
If the first one has not shown up, it is almost always still in the queue. Send me the receipt instead of paying twice.
Throwing away the receipt
The receipt is what a deposit is traced with. Save it until you see the money in the account.
Withdrawing money that is not settled yet
Cash from a recent sale takes a few days to become withdrawable. Check the available cash figure, not the portfolio value.
Expecting the money in a different bank
Withdrawals only go to the registered account. Changing it is a form with UOB Kay Hian, done before you withdraw.
Emptying the account mid-trade
Open orders need cash behind them. Withdraw what you do not need, not everything.