FSM Auto-Sweep Account is a combination of cash and money market funds managed by FSM. The Auto-Sweep Account aims to produce a return higher than FSM Multi-Currency Cash account while maintaining a high degree of liquidity and capital preservation. Auto-Sweep Account is diversified across cash, money market funds and short duration bond funds.

*FSM launched USD Auto-Sweep on 03 July 2023, CNH Auto-Sweep Account on 26 September 2022, and SGD Auto-Sweep Account on 07 June 2019.

Auto-Sweep Account does not pay out interest. Instead, the increase in your account balance is determined by the increase in the Net Asset Value (NAV) of the underlying constituents inside the Auto-Sweep Account.

Click here to find out the Auto-Sweep Account net yield.

Note: Net yield of Auto-Sweep Account is calculated based on the latest weighted average yield of underlying portfolio constituents, after deducting all fund-related expenses and FSM Management Fee. Please note that net yield is not necessarily an accurate indication of future returns.

You can manage your Auto-Sweep Account preferences anytime through your FSMOne account.

To opt in or opt out: Go to Account Settings > Opt-In Auto-Sweep.
– Check the selected currency (SGD / USD / CNH) to opt in.
– Uncheck the currency to opt out.

Your changes will take immediate effect.

Note: If you transfer money into an Auto-Sweep Account, the system will automatically opt you in for that currency’s Auto-Sweep Account.

Currently, the Auto-Sweep Account supports three available currencies.

SGD Auto-Sweep is available to hold SGD, while USD and CNH Auto-Sweep are available to hold USD and CNH respectively.

The Auto-Sweep Account is only available for cash investments.

At the moment, USD and CNH Auto-Sweep Account cannot be used for IPO.

SGD Auto-Sweep Account may be allowed for selected IPO subscription and is subjected to a different cut-off timing from Cash Account.

You can view the IPO subscription details under Stocks > IPOs / Placements.

FSM will execute the FX conversion on your behalf if FX is required for the IPO. All unsuccessful subscription monies and the relevant IPO subscription fees will be refunded back into Cash Account of the IPO denominated currency instead of SGD Auto-Sweep Account.

Currently, Auto-Sweep Account is not available for Corporate Actions such as Rights Issue offering.

Please transfer funds from Auto-Sweep Account to Cash Account for Corporate Actions that require outlay of funds at least 2 business days before the Corporate Action payment due date.

Yes, you can go to Account Settings > Opt In / Out Settings to view and edit your Auto Sweep opt-in setting for each account.

You are not able to customise the settings of Auto-Sweep Account.

For dividends, coupons and bond maturity proceeds
FSM will consolidate all the above on a daily basis and automatically invest them into SGD/USD/CNH Auto-Sweep Account ONE business day after you receive them.

Note: A consolidated amount of more than SGD 10/USD10/CNH 50 in a single day will be invested into the Auto-Sweep Account. (eg. If you receive SGD 6 from Fund A, SGD 3 from Fund B and SGD 3 from Fund C, we will sweep the consolidated amount of SGD 12)

For sell/redemption proceeds (Fund and Bonds)
When selling your funds and bonds, you can select SGD/USD/CNH Auto-Sweep Account as your redemption option at the point of placing the redemption order.

For sell/redemption proceeds (Stocks and ETF)
Sell/redemption proceeds in SGD/USD/CNH will be automatically invested into Auto-Sweep Account.
For Non-SGD/USD/CNH sell/redemption proceeds, it will be credited back to the respective currency cash account.

1) For dividends, bond coupon and maturity proceeds:
We sweep your proceeds ONE business day after they are credited to your Cash Account. The sweeping from Cash Account to Auto-Sweep will increase the Auto-Sweep Available Balance immediately.

2) For sell/redemption proceeds deposited into Auto-Sweep Account:
Your balance will reflect on:

• Funds proceeds – on the fund’s Redemption Settlement Date
• Bonds proceeds – on the bond’s Redemption Settlement Date + 1 business day
• Stocks and ETFs proceeds – on the stocks/ETF’s Redemption Settlement Date
• For Managed Portfolios proceeds – the managed portfolio’s respective Redemption Settlement Date

After opting in, any cash you receive from your investments (in SGD/USD/CNH) will be automatically moved into your Auto-Sweep Account to potentially earn higher returns.
This includes:

• Dividends
• Bond coupons/maturities
• Sell/redemption proceeds from unit trusts, bonds, stocks, ETFs
• Cash Account quarterly interest (from 1 June 2025)

What is NOT included:

• Money you deposit manually
• Proceeds or dividends in non-SGD/USD/CNH currency

Stock/ETF proceeds in SGD/USD/CNH will be swept automatically. Non-SGD/USD/CNH amounts will be returned to the respective currency cash account.

After opting out of Auto-Sweep Account,

• Dividends bond coupons and maturity proceeds are no longer invested into Auto-Sweep account automatically
• Proceeds are no longer invested into Auto-Sweep account automatically
• Remaining balance in Auto-Sweep account will not be sold off
• You can withdraw or transfer remaining balance to Cash Account
• You can use your remaining balance to pay for investment.

Once you opt in or opt out of the Auto-Sweep Account, your settings will be updated immediately.

1) For dividends, bond coupons and maturity proceeds
If you opt out before we initiate the sweeping process (daily between 1am to 7am for proceeds received the day before), your proceeds will not be swept.

2) For sell/redemption proceeds
If you opt out after placing a redemption order and have selected the "Auto-Sweep Account" as the redemption method, the proceeds from your sale/redemption will still be credited to the Auto-Sweep Account.

Send us your payment via FAST/Paynow, the money received will be deposited into your SGD Cash Account. Upon receiving the money in your SGD Cash Account, please submit the Transfer request by going to Transact > Cash Solutions > Transfer between Accounts. You will be automatically opted-in to Auto-Sweep once you make this transfer.

• The transfer from SGD Cash Account to SGD Auto-Sweep will complete immediately.
• To bring greater convenience to you, cash transfers between accounts will be added to your Stocks/ETFs purchasing power immediately
• Minimum deposit of SGD50 is to be adhered
• To manage your opt in / opt out settings, you can go to Account Settings > Opt In / Out Settings, or Cash > Opt-in to Auto-Sweep. Once opted in, future proceeds/dividends/coupons in SGD will be swept into the Auto-Sweep account.

Monies transfer from Cash Account to Auto-Sweep Account will be reflected in the Auto-Sweep Account available balance immediately.

Go to Cash > Transfer between Accounts. You can transfer USD/CNH from USD/CNH Cash Account to USD/CNH Auto-Sweep. The transfer from USD/CNH Cash Account to USD/CNH Auto-Sweep will complete immediately.

Minimum deposit of USD50/CNH 200 is required. 

If you currently do not have any USD/CNH balance, you can simply do FX conversion from any available currency to USD/CNH. Please note that it may take up to 1 to 2 business day for the FX (from other currency to USD/CNH) to be settled before you are able to transfer the balances from USD/CNH Cash Account to USD/CNH Auto-Sweep.

You can withdraw your money any time. To withdraw, please go to Cash > Withdrawal to Linked Bank/iFAST Global Bank.  The cut-off time for Auto-Sweep is 10am on any business day*.

*Business day for SGD Auto-Sweep is affected by weekends and Singapore Public Holiday.
*Business day for USD Auto-Sweep is affected by weekends and Singapore, US Public Holiday.
*Business day for CNH Auto-Sweep is affected by weekends and Singapore, Hong Kong, and China Public Holiday.

For SGD Auto-Sweep
Withdrawal to Local SGD Bank Account "pending verification".
Withdrawal requests received before 10am on a business day will take 2 business days to reach your bank.

Withdrawal to Local SGD Bank Account "verified"
Withdrawal request received before 10am on a business day will reach your bank account on the same business day.

Withdrawal to Overseas Bank Account
Withdrawals request received before 10am on a business day will be telegraphic transfer (TT) to your bank, and may take up to 5 business days to reach your bank account.

For USD and CNH Auto-Sweep: 
Withdrawals request received before 10am on a business day will be telegraphic transfer (TT) to your bank, and may take up to 5 business days to reach your bank account.           

• Any withdrawal request received after 10am on a business day will be transacted on the next business day.
• The timeline outlined in the table above is an estimate only and is provided for guidance. The actual processing time for withdrawal or redemption proceeds may be subject to change due to 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. 
• All TT fees involve are bear by clients.

No, you can only withdraw SGD from SGD Auto-Sweep Account, USD from USD Auto-Sweep Account, or CNH from CNH Auto-Sweep Account.

You can transfer your available balance between your SGD/USD/CNH Auto-Sweep Account and your SGD/USD/CNH Cash Account. Please note that transfers are only allowed within the same currency (e.g., SGD to SGD, USD to USD, CNH to CNH).

Direct transfers between different Auto-Sweep accounts (eg. from SGD Auto-Sweep to USD Auto-Sweep) are not supported. However, you can FX the monies within cash account and then transfer to Auto-Sweep.

To initiate a transfer, please log in to your account and go to Transact > Cash Solutions > Transfer between Accounts. To perform FX, please go to Transact > Cash Solutions > Foreign Currency Exchange.

• For transfers from Auto-Sweep to Cash Accounts, please ensure that the transfer order is submitted before the daily cut-off time of 10:00 AM on any business day.
• Orders submitted before the cut-off time will be processed and reflected in the relevant Cash Account’s available balance on the same business day, in the afternoon.

*All orders submit after cut-off time will process on the next available business day.

Your buy order will be processed on the same day, provided it is placed before the respective product’s cut-off time.

We will not sell off your Auto-Sweep Account if your buy order is not transacted.

For buying Unit Trusts (Cut-off time: 3pm): We will sell SGD/USD/CNH Auto-Sweep underlying units at 10am next business day.

For buying Bonds, Stocks and ETFs (Cut-off time: Based on the respective exchanges closing hour): We will sell SGD/USD/CNH Auto-Sweep underlying units at at 10am next business day.

To view your summary for Auto-Sweep Account, go to My Account > Cash Solutions.

To view your historical transactions, go to My Account > Historical Transaction.

To view the profit and loss of your Auto-Sweep Account, go to My Account > Cash Solutions and click on "View P/L".

Yes, you can select Auto-Sweep Account as the payment method for any of your Regular Savings Plan (RSP).

System will prompt you to do a first time opt-in into Auto-Sweep. After completing the opt-in process, you will be able to select Auto-Sweep Account as a payment option for RSP.

Insufficient balance in the Auto-Sweep Account on RSP date will result in failed RSP deduction and the RSP trade will not be processed. 

You are allow to subscribe RSP using Auto-Sweep Account even if your current status is opted-out. Deduction will take place on RSP date as long as there is sufficient balance in your Auto-Sweep Account.

Insufficient balance in the Auto-Sweep Account on RSP deduction date will result in failed RSP and the RSP trade will not be processed.

You are allow to subscribe RSP using Auto-Sweep Account even if your current balance is zero. Deduction will take place only if there is sufficient balance in your Auto-Sweep Account on the RSP deduction date.

Insufficient balance in the Auto-Sweep Account on RSP date will result in failed RSP deduction and the RSP trade will not be processed.

If you transfer funds from Cash Account to Auto-Sweep Account after the Auto-Sweep cut-off time or on a non-business day, the transferred amount will continue to earn yield based on the Cash Account interest rate. However, any new and higher yield offered by Auto-Sweep Account will be generated starting from the next business day.

Auto-Sweep Account generates yield from the increase in the Net Asset Value (NAV) of the underlying constituents inside the Auto-Sweep Account.