FAQ - Automatic Currency Exchange and Repayment Service
Q: What is Automatic Currency Exchange and Repayment Service?
A: Automatic Currency Exchange and Repayment Service is a system currency conversion service. When your account has a settled debit balance and available funds in other currencies, the system will automatically convert the currency to lower interest charges on your debit balance.
Q: How do I enable Automatic Currency Exchange and Repayment Service?
A: You can enable or disable this feature on"App” - "Me” - "Settings” - "Account Settings" - "Automatic Currency Exchange and Repayment Service".
Q: Under what circumstances will the auto-currency conversion be triggered?
A: Automatic currency exchange and repayment will be triggered if you have enabled this feature in your account settings and both of the following conditions are met: 1. Your account has a settled debit balance of at least HK$20,000 or its equivalent in other currencies, and 2. Your account balance in other currencies is higher than or equal to HK$1,000.
In the case that any offset/conversion was initiated by the client before the mentioned time, the auto-conversion will not be triggered.
Q: What is the exchange rate being used for auto-currency conversion?
A: The prevailing rate as of 07:00 HKT and 16:15 HKT daily will be used for auto-currency conversion. Exchange rate indicated is for reference only, kindly refer to the actual amount after conversion.
Q: When will automatic currency exchange and repayment be triggered?
Longbridge Securities HK will confirm and effect settlement and delivery for Client’s Security Account that meet the Conditions of Service or Conditions of the Cash Plus through on each Business Day (as defined in the "Client Agreement").
Q: Where can I find the conversion record?
A: You can check your conversion record on "Portfolio" - "More" - "Fund Details", or you may find more details of currency conversion in your daily statement.
Q: How do I disable Automatic Currency Exchange and Repayment Service?
A: You can disable this feature on "App” - "Me” - "Settings” - "Account Settings" - "Automatic Currency Exchange and Repayment Service".