eDDA Authorization And Deposit Guidelines

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 Longbridge APP instead of dealing with complex bank transfer. Funds can be transferred from your bank account into your Long Bridge HK Limited account according to your deposit instruction.

Notes：Supported currency of eDDA: HKD only.

Advantages of eDDA

• Security: The secure transfer service provided by Long Bridge HK Limited and Bank. The securities company and the bank conduct in-depth system connection. Each account authorization and each fund transfer requires both parties to verify the customer's identity. The process complies with the regulations of the Hong Kong Securities Regulatory Commission and the Hong Kong Monetary Authority.
• Extremely fast: 5x24 deposits are supported, and the account is extremely fast in 5 minutes.
• Free: eDDA quick deposit authorization and post-authorization deposit are free.
• Convenience: Deposit instructions can be initiated on the Longbridge APP, no need to go to the bank to operate, and no need to upload the transfer certificate.
• Wide coverage: Support mainstream Hong Kong banks including Hang Seng and HSBC.

eDDA Authorization

There are two authorization methods for eDDA:

• To initiate authorization in the Longbridge App, you only need to initiate the authorization process in the Longbridge App, which is convenient and fast.
• The bank initiates authorization, initiates eDDA authorization on the bank's web page, and initiates a deposit in the Longbridge App after the authorization is successful.

To explore different bank authorization methods, please refer to the instructions provided in the Longbridge App under "Deposit Bank" -> "eDDa Authorization.

(1) Longbridge App initiates eDDA authorization application

1.Select "Assets" tab - "Deposit Funds" - "Deposit HKD" - "Hong Kong Bank Card"

2.In the Hong Kong bank card list, after selecting the specific deposit bank card, click "eDDA deposit" to apply for authorization

Tip: If there is an eDDA label on the right side of the bank name, it means that the bank supports eDDA deposit. If there is no eDDA label, it means that it does not support eDDA deposit.

3.Confirm the bank authorization information, and click "Confirm Authorization", the system will automatically distinguish whether the user has bound the current bank card:

• If you have bound a bank card, you only need to confirm the card number, name, and fill in the maximum credit amount (optional), and click "Confirm Authorization"

• If you have not bound a bank card, you need to fill in the bank account name, remittance bank account number, and remittance account type. After filling in, click "Confirm Authorization"

Note: The maximum amount of HKD in the account is the subsequent single transfer limit. If it is not filled in, it will default to unlimited. Please fill in carefully. After filling in, the deposit is not allowed to exceed the limit.

4.After the submission is successful, wait for the bank's authorization. After the authorization is successful, there will be a push message and email to inform the user.

Note: Different banks have different eDDA authorization processing times. Most banks will have an authorization result in about 5 minutes. Some banks are expected to take 2-14 working days. Please wait patiently.

(2) eDDA Authorization (Bank Website)

You need to go to the bank-side authorized bank: Citibank, Bank of East Asia, China Merchants Bank. For specific operation documents, see:

eDDA Authorization via Bank APP/Web

China Merchants Bank Hong Kong eDDA Authorization Guidelines(Bank Website)

If some banks fail to authorize for many times in the Longbridge app, you can try to authorize on the online banking terminal. For details, see:

HSBC HK eDDA Authorization(Bank Website)

Heng Seng Bank eDDA Authorization(Bank Website)

Longbridge App initiates a deposit application

After the authorization is successful, you can directly go to the eDDA deposit page of the Changqiao App, click "Deposit Now", and it is estimated that the account will be credited in about 5 minutes during the Hong Kong stock trading period.

Arrival time

​eDDA Deposit Fees

Free of charge

[Note] If the account balance is insufficient, some banks may deduct the handling fee. For example, HSBC, please ensure that the account has sufficient assets before the transfer, so as to avoid the bank charging fees if the operation fails.

eDDA Frequently Asked Questions

1. eDDA authorization failed, how to deal with it?

If you are experiencing failures with EDDA authorization, it may be due to several reasons.

• First of all, please make sure that the certificate type, card number, and name order you used to open a bank account are consistent with the information you filled in when authorizing EDDA. Any inconsistency may lead to authorization failure; if the bank account name you use is different from the Long Bridge HK Limited account name name will also cause authorization failure, because the bank account name used for transfer must have the same name as the Long Bridge HK Limited account name.
• Secondly, you must have registered a valid mobile phone number or email address with your bank, as well as the latest issued certificate and other important information.
• If you fail to authorize multiple times in the Changqiao app, you can try to authorize on the bank's web page.
• In addition, if it is an HSBC bank card, it will be divided into savings account and current account. Users need to pay attention when filling in the card number. Generally speaking, the card number ending with 888/833 refers to the savings account, and the card number ending with 001 is the current account. If you're not sure about your account information, check the numbers in your checkbook or contact your bank to confirm.

2. Is eDDA always under authorization?

Generally speaking, the eDDA authorization processing speed of different banks is different. Some banks will process it faster, such as HSBC, and some banks will process it slower. For example, OCBC Bank usually takes 2 working days to get the result. The specific requirements are Consult the corresponding bank.

3. After the eDDA authorization is successful, the bank card cannot be deleted in the Longbridge app?

If the bank card edda authorization is successful, you are not allowed to delete the bank card directly in the Longbridge app. You need to unbind the edda authorization before you can delete the bank card;

4. After the eDDA authorization is successful, how to cancel the authorization?

Currently, the Longbridge app does not support deauthorization. You need to go to the corresponding bank online banking to deauthorize;

Notice

1. Customers need to register important information such as a valid mobile phone number or email address and a newly issued certificate with their bank.
2. Long Bridge HK Limited cannot accept incoming funds from third party, and can only accept funds originating from a bank account held in the same name registered with us. Otherwise, the cost of refund will be borne by the customer.
3. Bank may take a certain amount of time to process the remittance, and the "remitted" notification from bank does not mean that Long Bridge HK Limited has received the money. And funds are subject to settlement and approval upon receipt. Please be informed that Banks and Long Bridge HK Limited do not handle remittance during Hong Kong Public Holidays, so extra time is needed.
4. Long Bridge HK Limited does not accept direct cash deposits at this moment.

Disclaimer

The screenshots of the above guidelines are shared by users and are for reference only. If there is any discrepancy in the screenshot, the actual interface of the bank shall prevail. Please confirm with the bank to fill in the information. Long Bridge HK Limited will not be responsible for any losses caused by this guideline.

These guidelines may contain links to third-party websites for the convenience of users. Long Bridge HK Limited is not responsible for the contents of any websites linked to or from this website. The company (whether express or implied) does not guarantee the accuracy, legality, reliability or validity of any contents on any other websites.