Important Tips
If you are an account holder of HSBC or BOC (HK), you are suggested to choose Magpie Securities bank account for deposit accordingly. For example: HSBC account holders, please choose ‘Magpie Securities HSBC Bank Account’ for deposit.
Please refer to the link for more details: [Deposit through Overseas Bank Accounts] Bank Account Information of Magpie Securities
1. What currencies does Magpie Securities support?
Magpie Securities supports your funds transfer (deposit) of 8 currencies as below:
HKD, CNY, USD, EUR, AUD, CAD, GBP and SGD.
2. What are the deposit methods from Hong Kong banks to Magpie Securities bank account?
You can use Wire Transfer (Telegraphic Transfer) to deposit 8 different currencies with Magpie.
3. What are the fee charges and fund arrival time?
Fee charges and fund arrival time are also listed for your reference.
Magpie Securities’ deposit methods, fee charges and fund arrival time for all of the 8 currencies.
HKD, USD, CNY, EUR, AUD, CAD, GBP, SGD
| Clients’ (Yours) Bank Account | Deposit Methods | Fee Charges | Estimated fund arrival time: Trading Day (9:00-17:00) (HK Time) | |||
|---|---|---|---|---|---|---|
| Designated Overseas Banks | Wire transfer | No charges from Magpie but bank may charge | Normally it can take 1-3 working days |
**Magpie Securities does not accept third party deposit.**
**Magpie Securities does not accept cheque deposit via deposit box.**
**Magpie Securities does not accept CASH deposit.**
4. Other Deposit Related Information
4.1 Any originating bank, intermediary bank or receiving bank may charge wire transfer fees and related handling fees. All bank charges associated with the deposit will be borne by customers.
4.2 If the customer's remittance currency is different from the currency of the receiving bank's account, the customer needs to bear all losses caused by the exchange rate difference.
4.3 To verify that the bank account holder is the same as the holder of the trading account with Magpie Securities, Magpie Securities may request you to provide the bank account proof.
4.4 The deposit amount you notify Magpie Securities via the APP should EXACTLY match with your deposit proof, otherwise the processing time of the fund deposit may be longer.
4.5 If you deposit multiple times, please notify Magpie Securities separately by making a separate deposit notification for each fund. If all are notified together, the processing time of the fund deposit may be longer.
4.6 Clients can conduct all future deposits and withdrawals for their trading account only through a “Designated Overseas Bank Account”.
4.7 Clients may designate more than one bank account as Designated Overseas Bank Account. If client wants to change or add another Designated Overseas Bank Account, he/she must inform Magpie and deposit not less than HK$10,000 (must be net of any bank charges) or its equivalent (currently only HKD, RMB, USD, GBP, SGD, AUD, CAD and EUR are accepted) as an initial deposit from another bank in client’s name. The bank must be supervised by a banking regulator in its jurisdiction within the 16 eligible jurisdictions* as below into his/her Magpie account.
*16 eligible jurisdictions including: Australia, Austria, Belgium, Canada, Ireland, Israel, Italy, Malaysia, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the UK and the US.