Customer Service FAQs Funds Management

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FAQs

FAQs

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Funds Management

Bank Information
BOOM's FPS ID
BOOM's FPS ID

8158396 (HKD)

8664211 (CNY)

BOOM's Bank Accounts in Hong Kong Bank Account Name and Account Number
BOOM's Bank Accounts in Hong Kong

Bank Name: HSBC, Hong Kong

Bank Code: 004

Branch Address: Hong Kong Branch

SWIFT Code: HSBCHKHHHKH
Bank Account Name and Account Number

Monex Boom Securities (H.K.) Ltd

511-788846-005 (HKD)

500-443924-201 (USD)

741-562953-204 (CAD)

500-356316-280 (SGD)

500-356316-277 (AUD)

500-356316-278 (JPY)

500-356316-285 (CNY)

741-185292-202 (GBP)

741-185292-220 (EUR)
BOOM's Bank Accounts in Hong Kong

Bank Name: Hang Seng Bank Limited, Hong Kong

Bank Code: 024

Branch Address: Hong Kong Branch

SWIFT Code: HASEHKHH
Bank Account Name and Account Number

Monex Boom Securities (H.K.) Ltd

388-381238-001 (HKD)

388-381238-222 (USD)

388-381238-239 (CNY)
BOOM's Bank Accounts in Hong Kong

Bank Name: Standard Chartered Bank, Hong Kong

Bank Code: 003

Branch Address: Hong Kong Branch

SWIFT Code: SCBLHKHHXXX
Bank Account Name and Account Number

Monex Boom Securities (H.K.) Ltd

447-005-5366-8 (HKD)

447-106-9386-1 (USD)

447-107-3384-7 (SGD)

447-107-3383-9 (AUD)

447-1-663114-0 (JPY)

447-077-4253-9 (CNY)
BOOM's Bank Accounts in Hong Kong

Bank Name: Bank of China (Hong Kong) Limited

Bank Code: 012

Branch Address: Hong Kong Branch

SWIFT Code: BKCHHKHH
Bank Account Name and Account Number

Monex Boom Securities (H.K.) Ltd

012-611-0-009648-5 (HKD)

012-611-0-800912-0 (USD)

012-611-0-601244-1 (CNY)

012-611-92151769 (SGD, JPY, AUD, GBP, EUR, CAD)
Note:
The bank address is only provided for depositing funds by wire or telegraphic transfer.
DO NOT mail a cheque or bank draft directly to the bank.
BOOM's Bank Accounts in Singapore Bank Account Name and Account Number
BOOM's Bank Accounts in Singapore

Bank Name: HSBC Bank Singapore

Bank Code: 7232

Branch Address: Collyer Quay Branch, Singapore

SWIFT Code: HSBCSGSG
Bank Account Name and Account Number

Monex Boom Securities (H.K.) Ltd

141-233650-002 (SGD)
Note:
The bank address is only provided for depositing funds by wire or telegraphic transfer.
DO NOT mail a cheque or bank draft directly to the bank.

Notes about Funds Deposit:

  • Fund deposit will be processed during BOOM's office hours.
  • The time required for handling your deposit would be varied by different ways of deposit.
  • After depositing funds into our bank account, please notify us to effective your deposit. If you have not informed us to effective your deposit in 6 months, we might return it to the bank and will not bear any return-related handling fees that the bank charges you.
  • We may require you to provide the proof of depositor's identity. (For example: scanned copy of ATM card or bank statement, etc.)
    About electronic direct debit authorization (eDDA)
  1. eDDA (electronic direct debit authorisation) is a value-added service in FPS. Once the client set up eDDA successfully, the client can send fund deposit instruction on the BOOM App, and then our system will pass the instruction to client's bank to debit the bank account. After debiting the client's bank account, the fund will transfer to the client's BOOM account.
  2. eDDA is a 24/7 service1, you can fund your BOOM account anytime and anywhere. The fund will be available to your BOOM account in 5 minutes2, and you can use the fund to trade instantly. No further deposit notification is needed, just send the eDDA deposit instruction and wait for the confirmation.

    Note:
    1. Subject to the maintenance schedule, please refer to the latest announcement. eDDA service is only applicable to clients holding bank accounts in Hong Kong.
    2. Depends on the processing time of the banks.
  3. Deposit fund by eDDA is free of charge.
  4. No.
  5. The minimum amount is HKD 200, maximum amount depends on the limit which the client set up with the bank.
  6. Depending on your bank, under normal situation it usually takes 1 - 3 working day(s) to complete the setup.
  7. eDDA supports HKD.
  8. The processing time is subject to the execution of banks. Generally, the whole deposit process should be completed within 5 minutes.
    About Funds Withdrawal
    General Questions
  1. You can withdraw funds by:

    Ways of Withdraw Fund1 Available Currency
    International Transfer (Telegraphic Transfer)2 HKD, USD, AUD, SGD, JPY
    Hong Kong Inter-bank transfer HKD, USD, AUD, SGD, JPY, RMB3
    Hong Kong Clearing Cheque4 HKD, USD, RMB3

    Note:
    1. We do NOT accept cash and third party withdrawals.
    2. For proper handling of wire transfer to banks in Europe and Middle-East, clients will be asked to provide a bank statement showing the IBAN no. together with the name of bank account holder(s).
    3. You can withdrawal Chinese Yuan Renminbi (CNY or RMB) from BOOM to your RMB bank account(s) by cheque or transfer to your bank account(s) in Hong Kong. Kindly note we are not able to wire your CNY to any bank account outside Hong Kong.
    4. The HK-clearing crossed cheque will only be made payable to the registered account holder(s) and, if collect by mail, sent to the address on file.
  2. No. We do not charge any fee on funds withdrawal.

    However, other bank charges may be incurred and will be automatically deducted from your withdrawal sum.

    Note:
    If you are withdrawing funds to remittance bank(s) other than our bankers, the bank(s) may impose other handling/clearing charges. Please refer to your banker for further details.
  3. The cut-off time is 12:00 PM (HK time) on a Hong Kong business day.

    Note:
    All funds withdrawal instructions received before cut-off time will be processed on the same day. Instructions received after cut-off time will be handled on the next business day.
  4. No. You can withdraw partial or all of funds held in your BOOM account.
    5. Transfer to Designated Bank Accounts
  5. If you have pre-registered a designated bank account with BOOM, you can simply submit a fund withdrawal instruction online:
    1. Login to your BOOM account;
    2. On the pull-down menu, select "Funds & Account" > "Funds Transfer" > "Withdrawal Instruction";
    3. Select currency;
    4. Select method of payment;
    5. Enter amount of withdrawal;
    6. Select a designated bank account that is pre-registered with BOOM;
    7. Submit the request;
    8. You will then see the message "Your Order has been received by BOOM".
  6. To register a designated bank account, simply fill in and sign the "Registration Of Bank Accounts" form, and return to us by mail.

    Click here to Download (PDF)
  7. Yes, but ALL holders of the "jointly-owned bank account" must be BOOM clients. Otherwise, this bank account will be treated as a "third-party" bank account. We do not accept any fund deposit or withdrawal instruction for "third-party" bank accounts.
    8. Transfer to Other Bank Accounts
  8. Yes. You can transfer funds to any bank account under your name.

    Please be reminded that if you want to transfer the fund to your "jointly-owned bank account", ALL holders of this bank account must be BOOM clients. Otherwise, this bank account will be treated as a "third-party" bank account. We do not accept any fund deposit or withdrawal instruction for "third-party" bank accounts.
  9. No. You must transfer the funds to a bank account under your own name.

    Payment to a third party is not accepted. If you hold a "jointly-owned bank account", and not all holders of this bank account are BOOM clients, this bank account will be treated as a "third-party" bank account, and we will not accept fund transfer to this bank account as well.
  10. For the funds withdrawal request, clients are required to complete and return the signed Funds Withdrawal Form to us by email or by fax.

    You can get the Funds Withdrawal Form via:
    1. Login to BOOM (input details online and print out the filled withdrawal form)
    2. Download form Click here to Download (PDF)
    11. Processing Withdrawal
  11. If we receive your withdrawal instruction before the cut-off time and your fund is "good fund" for withdrawal, then your withdrawal instruction will be effective on the same day.
  12. "Good fund" for withdrawal refers to funds from:
    1. cheque deposit that is cleared by our bankers;
    2. sell trades that are settled in accordance to the practice of the respective stock market.
  13. Yes. You can change or cancel any pending withdrawal instruction.

    To do so, you can simply login to your BOOM account, and go to "Pending Deposit / Withdrawal" under "Funds & Account" section and click the "Change" or "Cancel" link of respective instruction.
    About currencies conversion
    General Questions
  1. No. You can buy stocks in all the markets offered by BOOM with any of the currencies in your account. For details, please visit "Markets Available in BOOM".

    The Eight currencies that you can deposit and/or keep in your BOOM account are HKD, USD, RMB, SGD, AUD, JPY, GBP and EUR.

    In addition, trades for Taiwan, Thailand, Indonesia, Philippines, Malaysia and Korea stocks are settled in USD. For all other markets, settlement currencies are same as the trading currencies. For details, please visit "Settlement Currencies of Different Stock Markets".
  2. The Portfolio page shows your "Total Fund Available" in the currency you selected for viewing only. It does not perform any currency conversion in your account.

    Besides, the exchange rate(s) used to calculate your "Total Fund Available" is indicative only.

    If you want to give an instruction to convert any currency, please login to your BOOM account, then go to the "FX Instructions" under "Currencies Conversion" of the "Funds & Account" section.
    3. Auto Conversion
  3. No. There is no need to convert your funds into the settlement currency before placing an order. Any currency conversion will be done for you after your buy order is executed.
  4. For your cash account, if there is insufficient fund in the settlement currency to cover the executed trades, we will arrange currencies conversion to cover the deficit currencies on the next business day.

    When we perform the currencies conversion, BOOM will follow the "Currencies Conversion Sequence" of your BOOM account. BOOM will firstly sell the currencies at the top of the sequence, if exhausted, then move down to the next currency.

    To define the "Currencies Conversion Sequence", please login to your BOOM account, then go to the "Currencies Conversion Setting" under "Currencies Conversion" of the "Funds & Account" section.

    Besides, simply click "FX Instructions" on the "Currencies Conversion" page to give BOOM any specific instruction to convert a currency to another.
  5. Same as cash account, if your margin account does not have sufficient fund in the settlement currency to cover the executed trades, we will arrange currencies conversion to cover the deficit currencies on the next business day.

    When we perform the currencies conversion, BOOM will follow the "Currencies Conversion Sequence" of your BOOM account. BOOM will firstly sell the currencies at the top of the sequence, if exhausted, then move down to the next currency.

    To define the "Currencies Conversion Sequence", please login to your BOOM account, then go to the "Currencies Conversion Setting" under "Currencies Conversion" of the "Funds & Account" section.

    However, if you want to borrow HKD or USD so that you can keep the cash balance in other currencies, you can change your "Conversion Preference" to "NOT cover the negative cash balances(s) in HKD/USD". Therefore, BOOM will NOT convert currenc(ies) to cover your HKD or USD deficit in your Margin Account.

    Example 1: If you have positive cash balance in AUD but negative in HKD, BOOM will convert your "surplus" AUD to cover your shortage in HKD. However, if you would like to keep the "surplus" AUD for the coming buy orders on Australian stocks, you can change your "Conversion Preference" to "NOT cover the negative cash balances(s) in HKD/USD". Then, BOOM will not change your AUD into HKD, but will lend you margin loan in HKD.

    Example 2: If you only have positive cash balance in SGD, but the amount is not enough to cover the negative in JPY, BOOM will convert all your "surplus" balance (i.e. SGD) into JPY. Then, for the remaining balance of JPY in short, BOOM will follow the "Currencies Conversion Sequence" of your account and lend you either HKD or USD to cover the shortage in JPY.

    In addition to letting BOOM arranges currencies conversion for you, you can give BOOM any specific instruction to convert a currency to another. You can do it by simply clicking "FX Instructions" on the "Currencies Conversion" page of the "Funds & Account" section.
    6. Specific FX Instructions
  6. Simply login to your BOOM account, then go to the "FX Instructions" under "Currencies Conversion" of the "Funds & Account" section. You can then input your instruction to BOOM to convert specific currencies.

    A specific FX Instruction can be placed, changed or cancelled anytime except 10:30am to 12:00pm HKT.
  7. Those FX instructions that is placed or changed before the cut-off time of 10:30am HKT will be executed on the same day.

    If you placed the FX instruction after 12:00 noon HKT, it will be handled on the next business day.
    8. Other Questions
  8. The exchange rate is based on the rate from banks plus a small handling fee. After the currencies conversion is done, the all-in exchange rate of the will be shown in your "Fund Movement History" under the "Account History" section.

    Kindly note that currencies conversion for Chinese Renminbi (CNY) is based on the banks' offshore rate, which may be deviated from the "official rate" quoted by the People of Bank of China.
  9. Below are the three important points you should know when converting Chinese Renminbi (CNY or RMB) in your BOOM account:
    1. BOOM will convert Chinese Renminbi (CNY or RMB) for its clients in Hong Kong's RMB Offshore Market, which is not subject to the daily limit of CNY 20,000 per day per person.
    2. Currency conversion for Chinese Renminbi (CNY or RMB) is based on the banks' offshore rate, which may be deviated from the "official rate" quoted by the People of Bank of China.
    3. If there is lack of market supply of Chinese Renminbi (CNY or RMB), BOOM might not be able to execute your instruction to buy Chinese Renminbi (CNY or RMB) and as such the respective FX instruction will be cancelled.

Last Update: October 2021.