Transferral of funds
All fund transfers into your Endowus account must be from a bank account with the same legal name associated with your Endowus account.
Please note that you can only transfer funds from a bank account in your own name. Please do not transfer funds from any bank account that is not in your own name, including bank accounts that belong to your family members and friends. All third-party fund transfers will be rejected.
Withdrawal of funds
All funds withdrawn from your Endowus account will go to your linked bank account (indicated during account opening). Please click here for more information on how to check your linked bank account details.
Endowus has zero fees for withdrawals.
However, you may still incur costs with your bank. It is best to check with your bank.
Here are some costs to take note of:
1. Incoming Telegraphic Transfer Fees
Your bank may charge incoming telegraphic transfer fees (including agent bank charges and cable charges) to receive the money in your bank account. For example, DBS charges S$10 to receive USD.
2. Incoming MEPS Transfer Fees
If you are withdrawing over S$200,000, your bank may charge incoming MEPS (MAS Electronic Payment System) transfer fees to receive the money. For example, DBS, Standard Chartered Bank and Maybank charge S$20 for receiving transfers via MEPS.
3. Less-than-ideal Exchange Rates
Remember to check that your linked bank account can hold the currency that you are withdrawing. Otherwise, your bank may convert the currency at a less-than-ideal exchange rate.