[HK Bank] eDDA deposit from HSBC

1. What is eDDA?

eDDA (Electronic Direct Debit Authorization) Deposit is a fast deposit method based on "HK FPS". By authorizing bank account, customers can initiate a deposit in FUTU APP instead of dealing with complex bank transfer. Funds can be transferred from your bank account into your FUTU account according to your deposit instruction. 

Notes: 

1. FPS refers to 'Hong Kong Faster Payment System', which is an online payment platform launched by the Hong Kong Monetary Authority.

2. Supported currency of eDDA: HKD only


2. Advantages of eDDA

● Instant: Funds will be credited within 5 minutes after initiating the deposit instruction.

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

● Convenient: Customers only need to initiate the deposit instruction on FUTU APP instead of dealing with complicated bank transfer, and there is no need for customers to upload the transfer voucher for verification.


3. eDDA Authorization/Deposit Instructions

3.1 eDDA Authorization

For HSBC/HangSeng Bank/Bank of China(HK), cutomers can finish bank account eDDA authorization in FUTU APP. 

● PATH: Launch FUTU APP - Click [Me] on the bottom - Click the title of [Trading Account] - Find [Bank Account] - Select [Add Bank Account] - Select [Hong Kong Bank Account] - Select Bank by clicking on [Bank Code and Bank Name] - Switch on [Activate eDDA Fast Deposit] and fill in the information - Click [eDDA Authorization and Link] to authorize your bank account.

For other Hong Kong bank account, please visit your bank APP/Web and find eDDA authoriztion to finish authorization.

3.2 Initiate a Deposit Instruction

After Finishing bank account eDDA authorization, you can initaite your deposit in FUTU APP now.

● PATH: Launch FUTU APP - Click [Trade] on the bottom - Click [Deposit] - Select HKD Deposit - Enter the amount you need to deposit - Click [Deposit] to submit your deposit request. 


4. Authorizing Time

Generally complete in 10 seconds.

Note: In some cases, authorization completion time might be delayed because of queueing.


5. Creidited Time

5.1 Single deposit not exceed 10 million HKD

Deposit Time

Credited Time

HK Stock Trading Day

(Mon 08:00 - Fri 23:59)

Within 5 Minutes

Other Time

Before 08:10 of next HK Stock Trading day


5.2 Single deposit exceed 10 million HKD

Deposit Time

Credited Time

HK Stock Trading Day

(Mon 08:00 - Fri 16:00)

Within 2 Hours

Other Time

Before 10:00 of next HK Stock Trading day


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

Notes:

If you have a arrears in your FUTU account, the deposit amount returned before 15:55 on the trading day will stop calculating the interests on the same day. The deposit amount returned at other time will stop calculating interests on the next trading day.

Deposit credited before 15:55 on the trading day will record in the statement on the same day. Deposit credited at other times will appear in the statement on the next trading day.


6. eDDA Deposit Fees

Free of charge