Frequent Asked Questions
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Electronic Direct Debit Authorization
What is Electronic Direct Debit Authorization?

Electronic Direct Debit Authorization allows you to bind your bank account to your CHIEF account in electronic ways that client may register through Chief Trader or online banking. After authorization, client can make direct deposit to the account at CHIEF from banks, avoid the queuing process and seize investment opportunities.

What are the benefits of using Electronic Direct Debit Authorization?
  • Deposit via Chief Trader Mobile APP at anytime, anywhere with easy steps, take about 1 min. to complete the application process*
  • No deposit time limit, 24/7 instant fund deposit to CHIEF
  • No application and fund transfer handling fee, decide the transfer amount on your own
  • Do not require deposits slips, support different types of CHIEF accounts and "E-Account Opening" clients
  • Applicable for Overseas and Mainland Clients
*It will take about 1 min. to complete the application process if you meet the application criteria. The turnaround time of each application and approval may vary, CHIEF reserves the right to request the applicant to submit the supporting documents for the approval.
What are the differences between Authorization via Chief Trader and Authorization via online banking?
Authorization via Chief Trader Authorization via Online Banking
Ways to Register Register at "Chief Trader" Mobile APP Login to Your Online Banking for Registration
Support Banks Support 11 Major Hong Kong Banks
Bank List
Support 14 Banks
Include: Citibank (HK), DBS, Standard Chartered, etc
Bank List
Support Regions Appliable to Hong Kong Clients Appliable to Hong Kong, Overseas and Mainland Clients
Set-up Time Instant Take Around 2 Working Days Generally After Submitting the Application
Support Currencies HKD & RMB HKD
Deposit Time Instant
Deposit Slip Proof Not Required
Minimum Deposit Requirement HK$500
Handling Fees Free
What is Authorization via Chief Trader?

Authorization via Chief Trader is the authorization service register for direct deposit at Chief Trader, which takes effect immediately upon successful registration in a simple and easy way. After authorization, client can make direct deposit to the account at CHIEF from banks, avoid the queuing process and seize investment opportunities.

How to submit the Authorization via Chief Trader application?

Click on the "Authorization via Chief Trader" through "Chief Trader" Mobile APP, select the bank account to be bound, fill in the daily deposit amount limit and submit to set up the instruction.

Remarks: The service is only applicable to "Chief Trader" Mobile APP. Client needs to download the APP and complete the account registration process to activate this service.
What currencies does Authorization via Chief Trader support?

Authorization via Chief Trader supports Hong Kong dollars and Ren Min Bi.

Which bank supports Authorization via Chief Trader services?

Click here to view the list of banks which support Authorization via Chief Trader and further details.

Relevant bank webpage:

BOC(HK)
HSBC
Hang Seng
Which CHIEF accounts does the Authorization via Chief Trader service support?

Suitable for the following types of CHIEF accounts:

  1. HK Stocks
    • Custodian Account
    • Margin Account
    • Happy Kids Account
  2. Stock Options Account
  3. HK Futures Account
  4. Global Stock Margin Account
Remarks: This service is not applicable to CHIEF joint and company accounts
Is it support "E-Account Opening" accounts?

Yes. After successfully opening an account online and completing the "Authorization via Chief Trader" process, client can transfer funds instantly without require the deposit slip.

What is the maximum daily deposit limit?

Daily deposit amount up to HK$10,000,000. For details, please refer to the table below:

Items Amount / Frequency
Daily Deposit Limit (per Currency) HK$10,000,000
Maximum Deposit for Each Transaction (per Currency) HK$999,999.99
Minimum Deposit for Each Transaction (per Currency) HK$500
Daily Count Limit 20 times
Is there a cut-of time for transferring funds?

No, client can transfer funds 7 X 24 instantly through "Chief Trader".

Are there any handling fees associated with setting up or cancelling an Authorization via Chief Trader instruction?

No handling fee is required.

Remarks: As the minimum deposit amount is HK$500, please ensure that your bank has sufficient funds before making a transfer. If the transfer is rejected by the bank, CHIEF will not charge any fees, however the client’s bank may charge service fees according to its terms.
How to bind more banks in the account?

Please add deposit account at “Electronic Direct Debit Authorization” by selecting “Authorization via Chief Trader”.

  1. Select “Apply”
  2. Add Bank Accounts
  3. Select Currency and Fill in Bank Information
  4. Setup Deposit Limit and Submit Instruction

It will not affect the pre-set bank after authorization. To change the pre-set bank, please select “Change Bank Information”.

How to change the authorization settings?

Chief Trader Mobile APP does not support changing authorization settings. To change the daily deposit limit, you must cancel the authorization through online bank and apply to relink the account.

How to cancel the authorization instruction?

Client can submit at Chief Trader, and cancel the bank authorization record at your online banking.

What is Authorization via online banking?

Authorization via online banking is a service that client can register at online banking for direct deposit, which takes effect immediately after the authorization is set up and approved*. After authorization, client can make direct deposit to the account at CHIEF from banks, avoid the queuing process and seize investment opportunities.

*Subject to the processing time of the banks.
Is transferring money to a third-party payee via online banking the same as Authorization via online banking?

Transferring funds to a third-party payee is not the same as Authorization via online banking. Client needs to register for at their online banking in order to link to the Chief Trader Mobile APP to initiate direct deposits. Please visit the manual of Authorization via Chief Trader and online bank (Provide Chinese Only) for details.

What currencies does Authorization via online banking support?

Authorization via online banking currently supports Hong Kong dollars.

Which bank supports Authorization via online banking services?

Click here to view the list of banks which support Authorization via online banking and further details.

Which CHIEF accounts does the Authorization via online banking service support?

Suitable for the following types of CHIEF accounts:

  1. Hong Kong Stocks
    • Custodian Account
    • Margin Account
    • Happy Kid Securities Sub-account
  2. Stock Options Account
  3. HK Futures and Options Account
  4. Global Securities Margin Account
Are there any handling fees associated with setting up or cancelling an Authorization via online banking instruction?

No handling fee is required.

Remarks: As the minimum deposit amount is HK$500, please ensure that your bank has sufficient funds before making a transfer. If the transfer is rejected by the bank, CHIEF will not charge any fees, however the client’s bank may charge service fees according to its terms.
Do I need to set a validation period?

No.

What is the maximum daily deposit limit?

Clients can set a daily deposit limit based on their own usage requirements. The maximum daily limit is HK$10,000,000 but limits on the number of deposits may vary depending on the bank.

How to bind more banks in the account?

Please apply the authorization at your online banking account, you may visit the manual of Authorization via Chief Trader and online bank (Provide Chinese Only) for details. It will not affect the pre-set bank after authorization. To change the pre-set bank, please select “Change Bank Information”.

How to change the authorization settings?

Chief Trader Mobile APP does not support changing authorization settings. To change the daily deposit limit, you must cancel the authorization through online bank and apply to relink the account.

How to cancel the authorization instruction?

Please login to the online bank account to cancel the authorization.

What is Standing Instruction - Electronic Direct Debit Authorization?

Standing Instruction - Electronic Direct Debit Authorization is for clients to initiate an Authorization via Chief Trader to authorize Chief to transfer funds from the client's designated bank account to the client’s account in CHIEF on the designated payment day each month until further notice.

What are the benefits of using Standing Instruction - Electronic Direct Debit Authorization?
  • Ensure clients to maintain a sufficient balance on monthly purchase day to process the monthly investment plan
  • Prevent any incurring interest due to insufficient balance
  • No application and fund transfer handling fee, decide the transfer amount on your own
  • Do not require deposits slips, support different types of CHIEF accounts and "E-Account Opening" clients
  • Applicable for Overseas and Mainland Clients
What currencies does Standing Instruction - Electronic Direct Debit Authorization support?

Supports Hong Kong dollars and Ren Min Bi.

What is the maximum and minimum deposit limit?

The maximum deposit for each transaction is based on the limit preset by the client when setting the Electronic Direct Debit Authorization via Chief Trader. Minimum deposit amount is HK$500. The maximum number of Standing Instruction is 6.

Are there any handling fees associated with setting up or cancelling a Standing Instruction?

No handling fee is required.

Remarks: As the minimum deposit amount is HK$500, please ensure that your bank has sufficient funds before making a transfer. If the transfer is rejected by the bank, CHIEF will not charge any fees, however the client’s bank may charge service fees according to its terms.
How to submit the Standing Instruction via “Chief Trader”?

Click on the "Electronic DDA" and select "Authorization via Chief Trader" through "Chief Trader" Mobile APP, click "Standing Instruction", select the bank account to be bound, fill in the deposit account, payment date and monthly payment amount. Read and agree the terms and conditions on the next page, and finally enter the confirmation code.

Remarks: The service is only applicable to "Chief Trader" Mobile APP. Client needs to download the APP and complete the account registration process to activate this service.
How to change the settings of Standing Instruction?

Chief Trader Mobile APP does not support changing the settings of the Standing Instructions. To change the information, such as the monthly payment amount, payment date and the designated bank account etc., you must cancel the current Standing Instruction and reapply.

How to cancel the Standing Instruction?

Notice of cancellation of the Standing Instruction must be received by CHIEF on the day preceding the payment date. Please note that if the client cancels the Standing Instruction on day of the payment date, the fund transfer would possibly execute accordingly.

Will the Standing Instruction be executed if the Authorization via Chief Trader has been cancelled?

If the Authorization via Chief Trader has been cancelled, the Standing Instruction associated with that Authorization will also be cancelled accordingly.

If I do not set up the Authorization via Chief Trader, could I apply for Standing Instruction?

No, clients must set up an “electronic direct payment authorization via Chief Trader” before they can apply for Standing Instruction.

What if the payment date fall on a Saturday, Sunday or a general holiday?

If any payment date fall on a Saturday, Sunday or a general holiday, execution of this Standing Instruction will be postponed to the next business day.

What if the payment date is on the 29th, 30th, or 31st day of a month while there is no 29th, 30th, or 31st day on that month?

If the payment date is on the 29th, 30th, or 31st day of a month, execution of this Standing Instruction in the month with fewer days will be postponed to the next business day of the last business day of the month.

What if the payment date falls on a day that is originally a business day, but CHIEF is not opened for business for the full day (e.g. a day on which typhoon signal no.8 is hoisted or black rainstorm warning is issued)?

Execution of the Standing Instruction shall be executed as usual, provided that the bank system is not suspended.

If client selects the application date as the payment date, will the Standing Instruction execute on the same day?

It will not be executed. If client selects the application date as the payment date, the Standing Instruction will only be executed from the payment day of the next month until further notice.

If the payment date is the monthly purchase date, will the fund transfer from Standing Instruction be able to deposit to the client’s Chief account so that relevant products could be purchased on behalf of client?

Yes, but please note that the Standing Instruction will not execute at the application date. Hence, client is recommended to set the payment date on or before 5th or 15th (monthly purchase date) or 12th (monthly Subscription Date) to facilitate and ensure relevant products could be purchased successfully.

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