How to withdraw?

Steps:

  1. Input your withdrawal request in Magpie Invest App.
  2. Select withdrawal currency, withdrawal account, bank account and input amount.
  3. After confirming that the information is correct, submit the withdrawal application by clicking the "confirm" button.

What are the ways of withdrawing money and points to note?

Clients should give their withdrawal instructions before the daily cut-off time (Hong Kong Trading Day from Monday – Friday, on or before 11:00am)

*All late withdrawal instructions will be handled on the next working day.

Please note:

  1. Magpie Securities only accepts withdrawals to bank accounts in your own name.  It does not support withdrawals to third-party bank accounts.
  2. The available amount for withdrawal will be affected by different factors such as transaction settlement and accrued interest.
  3. Unless specified otherwise, the bank used for initial account registration will be used as your default bank for any withdrawals (*applies to clients with more than one registered bank account).

Is there any fee of withdrawing money to a Hong Kong bank?

Free of charge

What should I pay attention to when I withdraw money to a Hong Kong bank?

  1. The Company will transfer funds from the online bank to the client's designated bank account registered with the Company, but only for HKD and RMB withdrawals not exceeding HKD 1,000,000 or equivalent.
  2. The Company may make the payment by depositing the funds into the client's designated bank account registered with the Company by (e-)Cheque for the first withdrawal request.
  3. If the client withdraws USD or amount more than HKD 1,000,000 (or equivalent), the (e-)Cheque payment method will be used and deposited into the client's designated bank account registered with the company.
  4. The fees charged by the client’s bank shall be borne by the client.
  5. If the withdrawal currency is a currency other than Hong Kong dollars, Renminbi or US dollars, the transfer will be taken by Chats or Telegraphic Transfer(T.T). Magpie Securities will charge a handling fee of HKD 300/USD 39 or equivalent (funds will be remitted within 1-3 working days).
  6. If client request to withdraw the money by chats or T.T, or in any situation that chats or T.T is the only solution for fund withdrawal, Magpie Securitas will charge a handling fee of HKD 300/USD 39 or equivalent (funds will be remitted within 1-3 working days).
  7. (E-)Cheque withdrawal method is temporarily not applicable to Virtual Banks.

How long does it take to get the money?

The time it takes to receive the funds will vary depending on the bank you choose.