Deposit guide of eDDA(HK Bank)

Tips:
1.The account name of bank used for payment must be the same as the account name of Futu Securities.
2.It takes time for the bank to process the remittance request, and the bank's notification of "remitted" does not indicate that Futu Securities has received the funds. The funds need to be settled and approved after arriving at Futu Securities. The bank and Futu Securities do not process remittance during public holidays in Hong Kong. Please allow the time for remittance processing.

3.Futu does not accept direct cash or e-wallet deposits.


1.What is eDDA(Electronic Direct Debit Authorization)?

2.Advantages of eDDA

3.Authorization and deposit operation process

4.Estimated time for the deposit

5.Authorization and Deposit fee


1.What is eDDA(Electronic Direct Debit Authorization)?

eDDA Deposit is a fast deposit method based on "FPS". After completing the bank account authorization, the customer can initiate a deposit in FUTU APP, and the funds will be transferred from the bank account into the Futu account. 

Note: 
1. FPS refers to 'The Faster Payment System', which is an online payment platform launched by the Hong Kong Monetary Authority.
2. The supported currency of eDDA: HKD only

2. Advantages of eDDA

● Safe: Futu Securities provides the secure transfer sevices cooperating with HSBC and Hang Seng Bank. Through the in-depth system docking between the broker and the bank, each account authorization and each fund transfer requires both partie to verify the identity of the client. The process complies with the regulations of the Hong Kong Securities Regulatory Commission and the Hong Kong Monetary Authority.
● Instant: After initiating the deposit, funds will be arrived within 5 minutes.

● Free: The authorization of eDDA and the deposit service are free of charge.

● Convenient: The customer can initiate a deposit instruction on FUTU APP without going to the bank or uploading the transfer voucher.

● Wide coverage of banks: Supporting 12 banks in Hong Kong, including Hang Seng Bank and HSBC

2.1 The current supported banks:

1.HANG SENG BANK LIMITED
2.THE HONGKONG AND SHANGHAI BANKING
3.BANK OF CHINA (HONG KONG) LIMITED
4.CMB WING LUNG BANK
5.STANDARD CHARTERED BANK
6.CITIBANK (HONG KONG) LIMITED
7.INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA)
8.BANK OF EAST ASIA
9.OCBC WING HANG BANK LIMITED
10.NANYANG COMMERCIAL BANK LIMITED
11.CHIYU BANKING CORPORATION LIMITED
12.BANK OF COMMUNICATIONS (HONG KONG) LIMITED
13.FUSION BANK LIMITED
14.CHINA CONSTRUCTION BANK (ASIA) CORPORATION LIMITED

2.2 The follow-up supporting banks:

1.DBS BANK (HONG KONG) LIMITED
2.SHANGHAICOMMERCIALBANKLIMITED
3.DAH SING BANK LIMITED
4.CITIBANK (HONG KONG) LIMITED
5.CHONG HING BANK LIMITED

3.Authorization and deposit operation

3.1 Bank Account authorization

3.1.1 Initiating authorization on FUTU APP

Supported banks: HSBC and Hang Seng Bank.

Path: Deposit - Deposit HKD - Hong Kong Bank Account - Choose Bank - Fill in bank account information and Choose Acount Type - eDDA Authorization and Link

3.1.2 Initiate authorization via mobile banking/online banking

Supported banks: Bank of China (Hong Kong), Wing Lung Bank, Standard Chartered Bank, Citi Bank, Bank of East Asia, OCBC Wing Hang Bank, Chiyu Bank.

● Step 1: Fill in the following information to set up eDDA

Merchant Category

Beneficiary Account Number

Beneficiary Account Number

239772973001

Beneficiary Account Name

FUTU SECURITIES INTL HK LTD

Beneficiary Bank

024:Hang Seng Bank Ltd.

Debtors Reference

Please input your FUTU ID Number

Debtor Account

Please select your HKD bank account

Debtor Currency

HKD

Max Limit Per Transaction

According to your requirement, recommend [No Upper Limit]

Payment Cycle

According to your requirement, recommend [Single]

Expiry Date

According to your requirement, recommend [Until Further Notice]

● Step 2: Initiate authorization at the bank

Go to Internet Banking/Mobile Banking to initiate authorization. After the initiation, please wait for the approval from Futu.

Authorization effective time: Estimated 1-2 bank working days.

3.1.3 Initiate authorization at the bank counter

Supported bank: Bank of Communications (Hong Kong)

3.2 Initiate a deposit instruction on FUTU APP

After the authorization takes effect, please log in FUTU APP and select "Trading - Deposit HKD - Deposit"


4. Estimated arrival time of the deposit

4.1 Single deposit does not exceed HKD 10 million

Initial deposit time

Estimated arrival time
Hong Kong trading days (Monday 08:00 – Friday 23:59 )*Within 5 minutes
Other periodsBefore 08:10 on the next Hong Kong trading day

*If the Hong Kong stock market is closed, the arrival time will be postponed

4.2 Single deposit exceeds HKD 10 million

Initial deposit timeEstimated arrival time
Hong Kong Trading Days (08:00 - 16:00 ) *Within 2 hours
Non-HK stock trading hoursBefore 10:00 on the next trading day

Tips:

1. The amount in arrears returned before 15:55 on the trading day will stop calculating the interests on the same day. The amount in arrears returned at other times will stop calculating interests on the next trading day.
2. The funds deposited before 15:55 on the trading day will appear in the statement on the same day. The funds deposited at other times will appear in the statement on the next trading day.

5.Authorization and Deposit fee

Free