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 HK 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 of funds transfer from Hong Kong banks to Magpie Securities bank account?
You can choose any method from the detailed list below to deposit 8 different currencies with Magpie.
- eDDA
- FPS
- Bank Transfer (both intra-bank and interbank are eligible)
- Wire Transfer
- Cheque (Not allowed for initial deposit; and overall, not recommended)
3. What are the fee charges and funds arrival time of different currencies?
Magpie Securities’ deposit methods, fee charges and fund arrival time of 8 currencies.
3.1 HKD Deposit Methods
| Clients’ (Yours) Bank Account | Deposit Methods | Fee Charges | Estimated fund arrival time: Trading Day (9:00-17:00) (HK Time) | |||
|---|---|---|---|---|---|---|
| HSBC or BOC (HK) | eDDA | Free | As fast as 30 seconds | |||
| FPS | Free | In 2 hours | ||||
| Intra-bank transfer | Free | Normally on the same trading day | ||||
| Cheque | Free | Deposits before 16:30 on the trading day can be credited to the account immediately through online banking and settled on the next trading day. | ||||
| Other HK Banks | eDDA (Main HK Banks) | Free | As fast as 30 seconds | |||
| FPS | Free | In 2 hours | ||||
| Interbank transfer (CHATS/RTGS) | No charge from Magpie but bank may charge | Normally on the same trading day | ||||
| Cheque | Free | Deposits before 16:30 on the trading day can be credited to the account immediately through online banking and settled on the next trading day. |
3.2 USD Deposit Methods
| Clients’ (Yours) Bank Account | Deposit Methods | Fee Charges | Estimated fund arrival time: Trading Day (9:00-17:00) (HK Time) | |||
|---|---|---|---|---|---|---|
| HSBC or BOC (HK) | Intra-bank transfer | Free | Normally on the same trading day | |||
| Cheque | Free | Deposits before 16:30 on the trading day can be credited to the account immediately through online banking and settled on the next trading day. | ||||
| Other HK Banks | Interbank transfer (CHATS/RTGS) | No charge from Magpie but bank may charge | Normally on the same trading day | |||
| Cheque | Free | Deposits before 16:30 on the trading day can be credited to the account immediately through online banking and settled on the next trading day. |
3.3 CNY Deposit Methods
| Clients’ (Yours) Bank Account | Deposit Methods | Fee Charges | Estimated fund arrival time: Trading Day (9:00-17:00) (HK Time) | |||
|---|---|---|---|---|---|---|
| HSBC or BOC (HK) | FPS | Free | In 2 hours | |||
| Intra-bank transfer | Free | Normally on the same trading day | ||||
| Cheque | Free | Deposits before 16:30 on the trading day can be credited to the account immediately through online banking and settled on the next trading day. | ||||
| Other HK Banks | FPS | Free | In 2 hours | |||
| Interbank transfer (CHATS/RTGS) | No charge from Magpie but bank may charge | Normally on the same trading day | ||||
| Cheque | Free | Deposits before 16:30 on the trading day can be credited to the account immediately through online banking and settled on the next trading day. |
3.4 EUR Deposit Methods
| Clients’ (Yours) Bank Account | Deposit Methods | Fee Charges | Estimated fund arrival time: Trading Day (9:00-17:00) (HK Time) | |||
|---|---|---|---|---|---|---|
| HSBC or BOC (HK) | Intra-bank transfer | Free | Normally on the same trading day | |||
| Other HK Banks | Interbank transfer (CHATS/RTGS) | No charge from Magpie but bank may charge | Normally on the same trading day |
3.5 AUD, CAD, GBP, SGD Deposit Methods
| Clients’ (Yours) Bank Account | Deposit Methods | Fee Charges | Estimated fund arrival time: Trading Day (9:00-17:00) (HK Time) | |||
|---|---|---|---|---|---|---|
| HSBC or BOC (HK) | Intra-bank transfer | Free | Normally on the same trading day | |||
| Other HK Banks | Wire transfer | No charge from Magpie but bank may charge | Normally it takes 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 accounts only through a “Designated Hong Kong Bank Account”.
4.7 Clients may designate more than one bank account as Designated Bank Account. If client wants to change or add another Designated Bank Account, he/she must inform Magpie and deposit no less than HK$10,000 (net of bank charges) as an initial deposit from another bank in client’s name. The bank must be a licensed bank in Hong Kong.