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What is a Dormant Account?
A Dormant Account refers to a stock account that does not have any of the following activities in the past 24 months:
• Buy or sell shares
• Subscribe to new IPO shares
• Deposit funds via Faster Payment System (FPS) or eDDA (Electronic Direct Debit Authorization)
• Withdraw funds
• Transfer funds into or out of the stock account from or to other Phillip’s accounts
• Buy or sell shares
• Subscribe to new IPO shares
• Deposit funds via Faster Payment System (FPS) or eDDA (Electronic Direct Debit Authorization)
• Withdraw funds
• Transfer funds into or out of the stock account from or to other Phillip’s accounts
What is the impact of a Dormant Account on customers?
To protect customer’s interests, when an account becomes dormant, its services (including trading services) will be restricted until the customer reactivates it.
How to reactivate a Dormant Account?
Customers are required to carry out at least one of the activities as listed in Section 1 above. The account will return to active status automatically at least 1 working day after the activity date.
If you have not used your stock account for some time, we recommend that you perform the above-mentioned action promptly to ensure smooth service.
