There had been a number of people seeking clarification on the procedures for applying for Rights via ATM. Typically, you will be able to pay using the ATMs of one of our three local banks – DBS, UOB or OCBC. However, do not take for granted that your bank is automatically included in the scheme.
For example, there are cases where the Rights application only accepts ATM of UOB and OCBC. If you leave your Rights application until the last minute and you only have a DBS ATM card, then you will be caught out.
The way to confirm this is to check the offer document beforehand. There will be a page (under the appendix) which shows the list of participating banks for the Rights ATM application.
For your convenience, the outline procedure to apply for Rights ia POSB/DBS ATM is shown below. The exact procedures for the other banks might be slightly different. I haven’t tried it before for UOB and OCBC so I can’t reproduce the steps here.
1) Put in card
2) Key in pin
3) More services
5) ESA-IPO/Share Investment
6) Rights Appln
8) Select bank account
9) xxxxx R(where xxxxx is the company name)
10) Read and press continue (3 times)
11) Key in number of accepted rights shares and press enter. Eg. If you have 3000 rights for xxxxx you want to accept all rights, key in 3000.
12) Key in number of excess rights you are applying for and press enter.
13) Check CDP number and press enter. If incorrect or not shown, key in CDP number and press enter.
14) Check all details and press enter to confirm.
15) Take receipt and card.
When you are applying, also make sure you enter the correct quantity for the accepted rights and excess rights. Many newbies have made the mistake of entering the wrong numbers and paying the price for it.
Also, if you are using a joint-bank account to apply, make sure you are using your own ATM card and not the other party’s. Otherwise, the application will be void.