The Cash Account is FSM Global’s online cash management facility that supports transactions in multiple currencies (SGD, USD, AUD, CAD, EUR, GBP, CNY, HKD, NZD, JPY, CHF, MYR).

When you deposit funds, a Cash Account in the relevant currency will automatically be created to hold your money. These funds are placed in trust accounts with licensed banking institutions, and are strictly held on behalf of customers. They cannot be used to offset any debts owed by FSM Global to the banks.

Click here for more information about FSM Cash Account & interest rate.

To top-up money into the Cash Account:

For Singapore Dollars:
The easiest way is to make a PayNow transfer with your Internet Banking from Singapore Banks.

You can generate your personal PayNow QR code via the FSM App or Website.
On the Mobile App:
1. Go to Top Up > Select PayNow
2. Click Login to view your exclusive unique QR (Your personal unique PayNow QR will be displayed after login)

On the Website:
1. On the Menu > Cash Solutions > Add Money > Select PayNow
2 Click Login to view your exclusive unique QR (Your personal unique PayNow QR will be displayed after login)

Upon receiving your money, we will credit them to your Cash Account within 30 minutes* (depending on some of the conditions listed below, which could otherwise lead to a delay of up to a few days).

*Conditions apply
• Except during system maintenance periods.
• Must include FSM Global Account Number (e.g. Pxxxxxxx). If you have forgotten to indicate your account number, please email us the payment receipt for our further processing.
• Payment must be made from your own bank account (Bank account name has to be the same as FSM). Payment from third-party or joint bank accounts may result in delays.
• Except for Standard Chartered Bank. Payment made from SCB will generally take T+1 business day.
• No outstanding orders under processing/pending transactions.

Internet Bill Payment / Cheque payments are accepted but require longer processing time. 

For Malaysia Ringgit (MYR):
You may transfer MYR to FSM via DuitNow, GIRO, or RENTAS. Please note that MYR cheques are not accepted.
Kindly be informed that same-day crediting is not available for MYR deposits. All MYR transfers will be credited to your MYR Cash Account on the next business day.
Important:
Before transferring MYR to FSM, please ensure that you have completed your Malaysia Residency Declaration. Failure to do so may result in unsuccessful crediting of funds to your MYR Cash Account. Login to your FSM account, go to Account Settings > Activated Products > click on "Malaysia Residency declaration".

For SGD, USD, EUR, GBP, HKD, JPY, and CHF without telegraphic transfer fees:

Transfers of SGD, USD, EUR, GBP, HKD, JPY, and CHF can be made without telegraphic transfer fees using the “Transfer of Funds within iFAST Group” option, provided your FSM account is linked to an eligible bank account under Account Settings.
 

For Other Currencies:

Transfers from external banks may incur telegraphic transfer or intermediary bank charges, depending on the sending bank and transfer method. Please check the applicable fees and available transfer options before initiating your transfer.
Please click here for the instructions to deposit other currencies (Non-SGD) or Transfer from overseas via Telegraphic Transfer.

We will not be held responsible for any loss, charge or damage arising from the rejected transfer or delay in crediting the amount into the account.
In the event that we are unable to identify the account for the amount to be credited, we may reject the amount transmitted after reasonable endeavours have been made to trace the source of the deposit. Any bank charges incurred during the course of the event will be borne by the client.

Tip: You can also use the Foreign Currency Exchange, the money exchanged will be reflected in your receiving cash account immediately!

Payments made via FAST or PayNow typically take up to 30 minutes to reflect in your FSM Global account. If your payment has not appeared after 30 minutes, it may be due to one of the following reasons:

- The payment was made without including your FSM Global account number as a reference.
- The payment was sent under a different name, joint names, or a name that was truncated due to bank system limitations.
- W.e.f 15 Oct 2025, as part of enhanced fraud surveillance measures, certain banks may hold or reject digital transfers (eg. FAST or PayNow) from retail accounts with balances over S$50,000, especially if more than 50% of the account balance was transferred within the past 24 hours. Please click here for more details.

If any of the above applies or need assistance of your delayed/missing payment, please contact us for further investigation.
 

As a general policy, FSM Global does not accept third-party payments or withdrawals.

Payments:
Exceptions may be considered if the bank account belongs to someone with a direct relationship to the FSM Global account holder (e.g., spouse, parent, or child). Such payments will only be processed upon verification of the relationship. If flagged as third-party, you will receive an email notification. Please reply with the necessary supporting documents (e.g., birth certificate, marriage certificate).

Withdrawals:
Withdrawals can only be made to bank accounts held in the name of the FSM Global account holder. Withdrawals to joint bank accounts are also permitted, provided the FSM Global account holder is one of the named bank account holders.

Note:
Payments from joint bank accounts may sometimes be flagged as third-party since banks typically display only one account holder’s name. If this happens, please provide a recent bank account statement (dated within 3 months) showing joint ownership.
All supporting documents must be sent to clienthelp@fsmglobal.sg for processing.

If your payment is made from your personal bank account (same account holder name as FSM Global) and includes your FSM Global Account Number (e.g., Pxxxxxxx) in the transfer details, the funds will be credited to your Cash Account based on the following processing times:

SGD Transfers - FAST / PayNow	Within 30 minutes* (depending on some of the conditions listed below, which could otherwise lead to a delay of up to a few days).
SGD Internet Bill Payment	Usually will take 1 business day to reach us
SGD Cheque	2pm on the next business day upon clearance
USD Cheque	2 business days upon clearance
Telegraphic Transfer	Please check with your bank, usually up to a week from the date/time of receipt.
MYR Transfers – DuitNow/GIRO/RENTAS	Within T+1 business day. Kindly note that we do not accept MYR Cheque.

*Conditions apply
• Except during system maintenance period.
• Except for Standard Chartered Bank. Payment made from SCB will generally take T+1 business day.
• Payment must be made from your own bank account (Bank account name has to be the same as FSM Global). Payment from third-party or joint bank accounts may result in delays.
• Must include FSM Global Account Number (e.g. Pxxxxxxx). If you have forgotten to indicate your account number, please email us the payment receipt for our further processing.
• No outstanding orders under processing/pending transactions.

Interest is accrued daily, compounded monthly and credited on a quarterly basis into your Cash Account.

The cut off for interest to be credited is at the end of every calendar quarter (which means end March, end June, end September, end December).

The net interest rate indicated on the website is an annual rate, and it is subjected to change. This is because FSM obtains daily rates from the bank which accrues and changes according to SIBID interest rate movements.

For example, the net interest rate for that day is 0.4%. The actual net interest accrued for that day is (0.4/365)% or 0.0011%.

You can click here to view the latest interest rate for Cash Account.

You do not need to maintain minimum balance in the Cash Account.

You can withdraw your money any time by going to Cash > Withdrawal to Linked Bank/iFAST Global Bank.

Receiving Region/Bank		Singapore SCB (Standard Chartered Bank) Retail customer only	Singapore SCB Non-retail customer and others Singapore Local Banks	All Overseas Banks
Currency	SGD	Process via Book Transfer on the same day for order placed before 3pm (on next working day for order placed after 3pm).   Fees: $0	Verified bank accounts ≤ $200,000 process via FAST in approximately 30 minutes.   > $200,0000 process via FAST by day end for order placed before 3pm (next working day end for order placed after 3pm).   Fees: $0	Telegraphic Transfer (TT) process within 3 – 5 business days.   Bank TT Fees: range from US$20-US$170.
			Non-verified bank accounts* Any amount process via bank transfer within 1 – 3 business days.   Fees: $0
	USD		Telegraphic Transfer (TT) process within 3 – 5 business days.   Bank TT Fees: range from US$20-US$170.
	HKD
	CNH
	NZD
	AUD
	CAD
	CHF
	EUR
	GBP
	JPY
	MYR	NA	NA	Malaysia Bank only Process via bank transfer on Transaction Day (T) + 1 working day for order placed before 3pm.   Fees $0

*Non-verified bank account status will be updated as “verified” in our record within 14 business days after the first withdrawal is deposited successfully.

Notes:

• The timeline outlined in the table above is an estimate only and is provided for guidance. The actual processing time for withdrawal depends on several factors including, Cash Account Foreign Currency Exchange order cutoff time (3:00 PM SGT on business days), public holidays, FX market holidays, operational considerations, the volume of requests, bank maintenance, or other factors, subject to prevailing laws.
• In the event of an exceptionally high volume of requests, we may temporarily limit the daily withdrawal amount and process your withdrawal in smaller amounts over a reasonable period, as determined by us. In such cases, we will make every effort to process your request as promptly as possible.
• W.e.f 1 Jun 2022, we no longer be issuing USD cheque. Withdrawal in USD will be remitted via Telegraphic Transfer (TT), and the Account holder will be responsible for all TT charges.
• Cross currency withdrawal will require an additional business day for processing from transaction date. The conversion rate will be based on the transaction date of your withdrawal order.
• Cross currency withdrawal are not available for MYR. MYR can only be withdrawn in MYR.

The minimum withdrawal amount is $50. If your Cash Account balance is less than $50, you will need to withdraw the entire remaining balance.
There is no maximum limit, you may withdraw the full balance in your Cash Account at any time.

The interest is accrued daily and credited after each quarter ends. If you make a full withdrawal before the quarter ends, the system will automatically calculate and include the pro-rated un-paid interest into your full withdrawal request.

Note:
Any full withdrawal involves FX conversion which gives zero balance,the original currency amount or value will be forfeited. Eg. HKD0.02 converted into SGD will be in zero value.

Select withdrawal amount: minimum withdrawal amount is $50.
Select commencement date: You can select any date except 29th, 30th, 31st and today’s date.
Select withdrawal frequency: You can select monthly, quarterly, semi-annually or annually.

Once the RCW instruction is in place, we will withdraw monies from your Cash Account according to your preference. Example: Monthly withdrawal of $50 on every 8th of the month.

Note:
- Each Cash Account can only have one RCW instruction.
- If the withdrawal date falls on a non-business day, it will be carried out on the next available business day.
- Full withdrawal will be initiated if the balance is less than the specified withdrawal amount. However, there will be no transaction if the balance falls below $10.

You can go to My Account > Regular Savings Plan > click on Apply Recurring Cash Account Withdrawal (RCW) button to submit RCW request in your account.

Note: You will need to have balance in your cash account before you can submit the Recurring Cash Account Withdrawal request.

Yes, however it will only be effective in the upcoming withdrawal.

Go to My Account > Regular Savings Plan > click on Edit button to terminate the RCW in your account.

Besides that, the RCW will be terminated if:
- You have closed your FSM Global account, OR
- Your FSM Global account is under bankrupt status

You can transfer your money between different investment accounts under your name.
You may do so via Transact > Cash Solutions > Transfer between Accounts.

You may access your Cash Account information by navigating to My Account > Cash Solutions.

• The Cash Account Summary provides an overview of your available balances across the various currency cash accounts.
• For detailed transaction history since inception (including deposits, withdrawals, investments, and fees) relating to a particular currency, please select “Cash Account” under the Payment Mode section.

This enables you to review all cash account–related transactions in an organized and consolidated manner.

The amount of money that is available for you to utilise from your Cash Account.

This amount is the sum of the available balance plus money that has been earmarked for pending transactions. It is money that you can earn interest from.

You can convert the Cash Account balances freely between different currencies except for MYR*.

*Only these pairs are supported for MYR conversion – SGD/MYR, USD/MYR, HKD/MYR, CNH/MYR.

To convert currencies within your Cash Account, please log in to your account and navigate to:
Mobile App: Transact > Cash Solutions > Foreign Currency Exchange
Web: Cash Solutions > FX Conversion

The foreign exchange rates showed are for reference only and do not imply orders can be executed at the displayed rates. The exchange rate would be determined after your order is completed, please refer to your email or confirmation note. The cash conversion will take T+1 business day to complete, cut off time 3pm. However, the amount will be available for same day transaction and transfer in between Cash Solutions.

Typically, Cash Account Foreign Currency Exchange orders are completed on the T+1 business day, with the earliest possible completion time being 00:01.
The settlement of FX transactions depends on several factors, including the Cash Account Foreign Currency Exchange order cutoff time (3:00 PM SGT on business days), public holidays, and FX market holidays.
Once the FX order has settled on T+1, the converted foreign currency amount will be available for withdrawal. However, please note that the funds will be accessible for same-day transactions and transfers within Cash Solutions.

Yes, it is tax exempted.

You are able to do the following with FSM MYR Cash Account:

• Deposit MYR via DuitNow/GIRO/RENTAS. Cheque is not allowed.
• MYR withdrawal
• Transfer MYR between accounts
• Trading in Bursa Malaysia
• Execute FX using MYR Cash Account. Only these 4 pairs are supported – SGD/MYR, USD/MYR, HKD/MYR, CNH/MYR.

Currently, MYR Cash Account does not support the following:

• Recurring deposit and withdrawal
• Unit Trusts, Bonds, MAPS transactions
• Regular Savings Plan (RSP)
• Securities trading, except Bursa Malaysia

MYR is a restricted currency. A Malaysian resident with domestic ringgit borrowing is allowed to invest in Foreign Currency Asset up to:

• RM 1 million equivalent in aggregate per calendar year on an individual basis or
• RM 50 million equivalent per calendar year in aggregate on a corporate basis

using funds sourced from the conversion of ringgit into foreign currency.

Non-Malaysia resident and Malaysia resident without domestic ringgit borrowing are not be restricted by the above regulation from Bank Negara Malaysia.

Note: If you are a Malaysian who has obtained PR outside Malaysia (e.g. Singapore) and is residing outside Malaysia (e.g. Singapore), you should select "No" for Malaysia Resident during the Malaysia Residency declaration.