Funds Deposit |
Q. |
How do I deposit funds? |
A. |
You may deposit funds into BOOM's bank accounts in Hong Kong, Singapore, Australia and United States by any of the following ways:
- Internet banking - HSBC online pay bills function (details)
- Internet banking - online transfer (details)
- Phone banking (details)
- Automatic Transfer Machines ("ATM") transfer (details)
- Branch deposit or transfer (details)
- Personal cheque or bank draft (details)
- Overseas remittance or telegraphic transfer (details)
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Q. |
Do I need to notify BOOM after depositing money? |
A. |
Yes. After depositing money, please notify BOOM by:
- Login to your BOOM account and fill-in the online "Deposit Form"; and
- Fax the deposit receipt* to us at (852) 2255 8300. Remember to write down your BOOM account number, your name and sign on the deposit receipt.
Once we receive your funds and the deposit notification, we will update your account balance accordingly.
* Deposit receipt is provided by the bank if you transfer funds through ATM, branch counter or remittance. If you transfer funds by Internet banking or phone banking, just simply fill-in the online "Deposit Form". |
Q. |
Can I use HSBC Hong Kong's online pay bills function to deposit funds? |
A. |
Yes. If you have a Hong Kong dollar bank account with HSBC Hong Kong, you can use their online "Pay Bills" function to transfer Hong Kong dollars into your BOOM account. Your transfer will be processed automatically and be available in your BOOM account within 15 minutes*.
To add BOOM as one of your paying merchant, please take the following steps:
- Login to HSBC Hong Kong's Internet Banking Service
- Go to "Banking" --> "View & Pay Bills"
- Click "Add New Merchant"
- Select "Securities Broker" under Category and "BOOM.COM" under Merchant
- Enter your BOOM account number as Bill Payee Account Number
(Fill in the 8-digit number without "CA", e.g. "CA10012345", only fill in "10012345").
Once finish, you will find [BOOM.COM] is added to the merchant list and you can start transferring funds into your BOOM trading account anytime you like.
* For every Hong Kong business day, transfer will be processed from 9:15 am to 3:45 pm and at 7:00 pm (HKT). HK$2.5 will be charged if "Pay Bills" amount is below HK$20,000 for every transaction. |
Q. |
Can I deposit funds through Internet banking? |
A. |
Yes. You can transfer funds to BOOM through Internet banking service of HSBC, Hang Seng Bank or Standard Chartered Bank in Hong Kong or HSBC in Singapore, Australia and United States.
Once you have completed the transfer, you will be given an acknowledgement with a reference number. Print the acknowledgement and fax it to BOOM at (852) 2255 8300. Please state your BOOM account number, your name and signature for identification.
Alternatively, please inform BOOM your Internet banking deposit by filling in the online "Deposit Form" |
Q. |
Can I transfer funds through phone banking? |
A. |
Yes. If you have a bank account with HSBC, Hang Seng Bank and Standard Chartered Bank in Hong Kong, then you can transfer funds through phone banking service.
If your phone banking transfer is done directly with your banker's customer service representative, please ask them to show your name in BOOM's bank statement.
If this cannot be done or you transfer funds by touch-tone phone banking services, please remember to inform BOOM by filling in the online "Deposit Form" |
Q. |
Can I transfer funds through the Automatic Transfer Machines ("ATM") in Hong Kong? |
A. |
Yes. If you have Hong Kong dollar bank account with HSBC, Hang Seng Bank and Standard Chartered Bank in Hong Kong, then you can transfer funds through its ATM or Jetco machines.
Once you have completed the transfer through an ATM in Hong Kong, please obtain a deposit receipt from it.
Please fax the deposit receipt to BOOM at (852) 2255 8300. Remember to write down your BOOM account number, your name and sign on the deposit receipt. |
Q. |
Can I go to any branches of the banks to make deposit? |
A. |
Yes. You can deposit or transfer funds to BOOM in any branches of HSBC, Hang Seng Bank or Standard Chartered Bank in Hong Kong, or HSBC in Singapore, Australia and United States.
After you have deposited or transferred funds at the branch counter, please fax the pay-in-slip to BOOM at (852) 2255 8300. Remember to write down your BOOM account number, your name and sign on the pay-in-slip for identification.
Important: Please do not drop the cheque into the cheque collection box inside the bank. |
Q. |
Can I deposit funds by sending BOOM a personal cheque or bank draft? |
A. |
Yes. We accept personal cheque in HKD or bank draft in any currency.
The personal cheque or bank draft should be made payable to "Boom Securities (H.K.) Limited". Before you send it to our office, please write down your BOOM account name and account number at the back of the cheque or bank draft.
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Address: |
Boom Securities (H.K.) Limited
Suite 802, 8/F., AIA Tower, 183 Electric Road, North Point, Hong Kong |
Please note that we do not accept third-party cheques or cash by mail.
Besides, it may take times for banks to clear cheques and bank drafts. And the bank might impose handling charges on clearing foreign currency cheque that is issued outside Hong Kong. |
Q. |
Can I make deposit through overseas remittance or inter-banktransfer? |
A. |
Yes. You can wire or transfer funds to BOOM's bank account with HSBC, Hang Seng Bank or Standard Chartered Bank in Hong Kong, or HSBC in Singapore, Australia and United States.
Once you have given the instruction to the bank, please send us a copy of the T/T advice or the transfer receipt issued by your bank. Please state your BOOM account number, your name and signature on the T/T advise, and fax it to BOOM at (852) 2255 8300.
There might be handling or clearing charges imposed by the banks and please refer to your banker for further details. |
Q. |
Can I send cash/dollar notes to your office? |
A. |
No. We do not accept cash deposit in our office or by mail. For a small amount of cash, you can just simply deposit into BOOM's bank account and provide us the deposit receipt / slip. |
Q. |
How to fill in the online "Deposit Form"? |
A. |
Simply inform BOOM about your deposit by the following steps:
- Login to BOOM
- Go to the "My Account" section
- Select "Deposit" in "Fund Transfer" section on the pull-down menu
- Select currency of funds you have deposited
- Select channel you deposited the funds
- Fill out the on-line form [Remember to fill out the "Bank Reference Number" if you receive a reference number from your banker]
- Enter your Trading Keycode
Make sure all information is correct before clicking on [Submit Order] button. |
Q. |
How to check the status of my deposit? |
A. |
You can check the status of your deposit at "Fund Movement History" in "Account History" section or "Pending Deposit / Withdrawal" in "Funds Transfer" section under the "My Account" menu. |
Q. |
When is my deposit available for trading? |
A. |
Once we have received your funds and the deposit notification, we will update your online balance and make your funds available for trading. |
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Bank Account Information |
Q. |
What are BOOM's bank accounts in Hong Kong? |
A. |
BOOM has the following bank accounts with HSBC, Hang Seng Bank or Standard Chartered Bank in Hong Kong:
Account Name: Boom Securities (H.K.) Limited
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Bank Details |
Account No |
| Bank Name: | HSBC, Hong Kong | 511-788846-005 (HKD)
500-443924-201 (USD)
500-356316-280 (SGD)
500-356316-277 (AUD)
500-356316-278 (JPY) |
| Bank Code: | 004 |
| Branch Name: | Hong Kong Office |
| Branch Address: | 1 Queen's Road Central, Hong Kong |
| Swift Code: | HSBCHKHHHKH |
| Bank Name: | Hang Seng Bank Limited, Hong Kong | 388-381238-001 (HKD)
388-381238-222 (USD) |
| Bank Code: | 024 |
| Branch Address: | 83 Des Voeux Road Central, Central, Hong Kong |
| Swift Code: | HASEHKHH |
| Bank Name: | Standard Chartered Bank, Hong Kong | 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) |
| Bank Code: | 003 |
| Branch Address: | 4-4A Des Voeux Road Central, Central, Hong Kong |
| Swift Code: | SCBLHKHHXXX |
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Q. |
What is BOOM's bank account in Singapore? |
A. |
BOOM has the following bank account with HSBC in Singapore:
Account Name: Boom Securities (H.K.) Limited
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Bank Details |
Account No |
| Bank Name: | HSBC Bank Singapore | 141-233650-002 (SGD) |
| Bank Code: | 7232 |
| Branch Address: | Ocean Building Branch Singapore,
20 Raffles Place #02-00,
Ocean Towers, Singapore 048620 |
| Swift Code: | HSBCSGSG |
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Q. |
What is BOOM's bank account in Australia? |
A. |
BOOM has the following bank account with HSBC in Australia:
Account Name: Boom Securities (H.K.) Limited
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Bank Details |
Account No |
| Bank Name: | HSBC Bank Australia Limited | 011-034204-001 (AUD) |
| Branch Address: | Exchange Centre, 28 Bridge Street,
Sydney, NSW, Australia |
| BSB No.: | 342-011 |
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Q. |
What is BOOM's bank account in United States? |
A. |
BOOM has the following bank account with HSBC in United States:
Account Name: Boom Securities (H.K.) Limited
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Bank Details |
Account No |
| Bank Name: | HSBC Bank USA | 000-12489-3 (USD) |
| Branch Address: | 452 Fifth Avenue, New York, NY 10018, USA |
| ABA No.: | 0108 |
| Routing No.: | 021001088 |
| Swift Code: | MRMDUS33 |
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Q. |
Do I need an IBAN code when wiring funds to BOOM's bank accounts? |
A. |
IBAN code is not applicable for banks in Hong Kong, Australia, Singapore and United States. When you wire funds to our bank accounts in these countries, the SWIFT code will be sufficient to make the transfer. |
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Currencies Conversion |
Q. |
Do I need to deposit different currencies to trade in different markets? |
A. |
No. You can buy stocks in all the markets offered by BOOM with any of the currencies in your account. We accept fund deposit in any of the following currencies, HKD, USD, JPY, SGD and AUD.
For Taiwan, Thailand, Indonesia, Philippines, Malaysia and Korea stocks, trades are settled in USD. For all other markets, settlement currencies are same as trading currencies.
[Click here for BOOM's available trading markets]
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Q. |
What is the "Currency" on my Portfolio page for? Can I do the currency conversion on that page? |
A. |
The portfolio page shows your "Total Fund Available" in the currency you selected for viewing only. It does not perform any FX conversion in your account.
The exchange rate(s) used to calculate your "Total Fund Available" is indicative only.
If you want to give an instruction to do any FX conversion, please go to the
"Currency Priority Setting" in the "Currency Conversion" under "My Account" section.
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Q. |
Do I need to convert funds into the settlement currency before placing an order? |
A. |
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 trade execution.
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Q. |
I have a Cash account with BOOM, how does currency conversion work for me? |
A. |
For your cash account, if there is insufficient fund in the settlement currency to cover executed trades, we will arrange FX conversion to cover the deficit currency on the next business day.
You can define the Currency Conversion Priority under the "My Account" section. During currencies conversion, we will first use fund in the 1st preferred currency to cover your negative cash balances. After exhausting the 1st currency, we will move onto the 2nd currency on the ordered list, etc.
You can also go to "Place FX Instruction" under the "My Account" section to give any specific currency conversion instruction.
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Q. |
I have a Margin account with BOOM, how does currency conversion work for me? |
A. |
Same as cash account, if your Margin Account does not have sufficient fund in the settlement currency to cover executed trades, we will arrange FX conversion to cover the deficit currency on the next business day.
You can define the Currencies Conversion Priority under the "My Account" section. During currencies conversion, we will first use fund in the 1st preferred currency to cover your negative cash balances. After exhausting the 1st currency, we will move onto the 2nd currency on the ordered list, etc.
However, you might want to keep foreign currencies and borrow HKD or USD, you can change your FX Instruction Preference Setting to "do not cover HK/US dollars deficits". BOOM therefore will NOT do FX conversion to cover your HKD or USD deficit in your Margin Account. For example, when you buy stocks settled in USD, BOOM will lend you USD even you have sufficient balance of AUD in your account.
Alternatively, you can place a SINGLE FX Instruction in the FX Center to give any specific FX conversion instruction.
Example 1:
If you have surplus in AUD but deficit in HKD, BOOM will convert your surplus AUD to cover your shortage in HKD.
However, if you would like to keep the surplus in AUD for the coming buy order on Australian stocks, you can go to the FX Center and change the FX Instruction Preference Setting to " do not cover HK/US dollars deficits". Then, BOOM will not convert your AUD to cover your negative HKD.
Example 2:
When you only have surplus SGD but not enough to cover the deficit JPY, BOOM will convert all your surplus SGD to cover the JPY. And for the reminding balance of deficit JPY, BOOM will base on your Currencies Conversion Priority to lend you either HKD or USD to cover the shortage in JPY.
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Q. |
How to give Single FX Instruction to do currencies conversion in my account? |
A. |
"A SINGLE FX Instruction can be placed, changed or cancelled anytime except 10:30 am to 12:00 pm (HKT).
Simply go to "Place FX Instruction" under the "My Account" section, you can determine your own currency conversion.
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Q. |
When is my Single FX instruction become effective? |
A. |
You can place, change or cancel your Single FX instruction before the cut-off time at 10:30 am (HK Time) for currencies conversion on that day.
Alternatively, you can place your Single FX instruction for the next business day after 12:00 noon (HK Time).
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Q. |
How do I know the exchange rate for currencies conversion? |
A. |
The exchange rate is based on the rate from HSBC plus a small handling fee and the all-in exchange rate on currencies conversion will be shown in your
"Fund Movement History" in the "Account History" section under "My Account" menu section when the FX conversion is done.
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Funds Withdrawal |
Q. |
How do I withdraw funds? |
A. |
You can choose to transfer funds to your designated bank accounts, or request a crossed cheque payable to yourself.
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Q. |
How to give a fund withdrawal instruction? |
A. |
To withdraw funds from your BOOM trading account, you may simply give us a signed withdrawal instruction. Steps are as below:
- Login to BOOM;
- Go to the "My Account" section;
- Select "Withdraw" in the "Fund Transfer" section on the pull-down menu;
- Select currency;
- Select method of payment;
- Fill out the on-line form (Beneficiary bank name, Bank a/c no. and Bank a/c name);
- Print, sign and send the form to BOOM by fax at (852) 2255 8300;
- Upon receipt of the written request, BOOM will execute your instructions accordingly.
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Q. |
Can I give a fund withdrawal instruction online? |
A. |
Yes. If you have pre-registered a bank account with BOOM, you can submit a fund withdrawal instruction online, and you do not need to fax us a signed written request.
To give a fund withdrawal instruction online, steps are as below:
- Login to BOOM;
- Go to the "My Account" section;
- Select "Withdraw" in the "Funds Transfer" section on the pull-down menu;
- Select currency;
- Select method of payment;
- Select a pre-registered bank account with standing instruction;
- Enter the Keycode and submit the request;
- When your request is received by BOOM, you will see the message "We have received your withdrawal instruction. Your withdrawal will be processed on [Date]."
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Q. |
How to register a bank account for giving withdrawal instruction online? |
A. |
To register a bank accont, simply fill in and sign the "Standing Instruction And Indemnity for Funds Withdrawal" form, and return to us by mail.
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Q. |
After giving the withdrawal instruction to BOOM, when will it be processed? |
A. |
All fund withdraw instructions received on or before 12:00 noon (HKT) will be processed on the same day. Instructions received after cut-off time will be handled on the next business day.
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Q. |
Can I change or cancel my withdrawal instruction? How? |
A. |
Yes. You can change or cancel any pending withdrawal instruction. To do so, you can simply go to "Pending Deposit / Withdrawal" in the "Funds Transfer" under "My Account" and click the "Change" or "Cancel" link of respective instruction.
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Q. |
Does BOOM charge me any fee for withdrawing funds? |
A. |
No. BOOM does not charge any fee on funds withdrawal.
However, if you are withdrawing funds to remittance bank(s) other than our bankers, there might be handling/clearing charges imposed by the bank(s). Please refer to your banker for further details.
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Q. |
When is my withdrawal instruction effective? |
A. |
If we receive your withdrawal instruction before the cut-off time of 12:00 noon (HKT) and your fund is "good fund" for withdrawal, then your withdrawal instruction will be effective on the same day.
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Q. |
What is "good fund" for withdrawal? |
A. |
"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.
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Q. |
Can I transfer funds to a third party? |
A. |
No. You must transfer the funds to a bank account under your own name. Payment to a third party is not accepted.
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Last Update: June 2008.
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