New Multi-Currency Account Balance Convertor Feature
Investors can now convert the distributions into SGD, and then initiate a single withdrawal of the entire SGD amount which will be received faster than non-SGD withdrawals.
Following up on the WISE Invest Flow Feature implemented earlier in June 2021, our technology team at RealVantage continued to add on platform features for the benefit of our investors. The recent enhancement to the platform is a currency conversion feature on the investor’s account. Investors may receive distributions in various currencies, for example, AUD, GBP, and USD, and may request withdrawals separately but into SGD-only accounts, incurring delays and heftier bank conversion rates. With this new feature, investors can convert the distributions into SGD, and then initiate a single withdrawal of the entire SGD amount which will be received faster than non-SGD withdrawals which are sent through telegraphic transfers.
Additionally, investors receiving distributions in one currency may now easily convert to another currency where a deal of interest may be. Prior to this, investors used to have to withdraw the distributions in the said currency and fund the entire new commitment afresh in the new currency, incurring multiple conversion fees. For distributions in AUD and a new investment in USD, this new feature now allows investors to effortlessly convert the AUD into USD, which can then be offset against the USD commitment when an investment is placed.
With this add on, the investment process has become more seamless and advantageous for the investor. If you have any questions regarding this latest addition or RealVantage, please feel free to send your enquiries to investor@realvantage.co or WhatsApp: +65 8817 6239.
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Disclaimer: The information and/or documents contained in this article does not constitute financial advice and is meant for educational purposes. Please consult your financial advisor, accountant, and/or attorney before proceeding with any financial/real estate investments.