Cross-Broker Fund Transfer Instructions
What is fund transfer?
Currently supported types of fund transfers include:
Cross-broker Fund Transfer: If a user has accounts with both Longbridge Securities (Hong Kong) and Longbridge Securities (Singapore), funds can be transferred between brokers to avoid repeated deposits and withdrawals, thus improving efficiency.
- Arrival Time: Estimated 1-2 business days. Due to different holidays in Hong Kong and Singapore, the specific business days will be based on the location of the receiving broker.
- Fee: Free
- Note: If you have only one account with Longbridge Securities (Hong Kong) or only one account with Longbridge Securities (Singapore), you cannot use the cross-broker fund transfer function.
Cross-broker Fund Transfer Authorization
1.Fund Transfer Entry
Click on Assets - More - Fund Transfer.
2.Initiate Authorization Request
Select cross-broker fund transfer and initiate an authorization request. You need to scroll to the bottom of the authorization agreement and confirm your personal information before you can click "Authorize Now";
Note: If you have only one account with Longbridge Securities (Hong Kong) or only one account with Longbridge Securities (Singapore), you cannot use the cross-broker fund transfer function.
3.Authorization Successful, You Can Submit Fund Transfer Request
(1) If the authorization is successful, select the receiving account and the sending account for the fund transfer, fill in the transfer amount, and submit after confirming the information.
(2) After a second confirmation of the information, the transfer request is successfully submitted. It is expected to be credited within 1-2 business days. Due to differences in local holidays between Hong Kong and Singapore, the specific business days will be based on the location of the receiving broker.
(3) If the fund transfer is successful, you will receive a push notification and an email informing you of the successful transfer. You can also check the transfer progress on the transfer record details page. Securities accounts starting with "H" are Longbridge Securities (Hong Kong) accounts, while those starting with "SG" are Longbridge Securities (Singapore) accounts.
4.Authorization Status: In Progress, Requires Manual Review
If the system detects inconsistencies in the user's information between Longbridge Securities (Hong Kong) and Longbridge Securities (Singapore), a manual review will be required. Please wait patiently for the authorization result, ingenue.
5.Authorization Status: Rejected, Additional Information Required
If the authorization is rejected, you will receive a corresponding push notification and message. You can provide additional personal information based on the rejection reason.
Note: The authorization application can only be canceled on the broker's platform where the authorization was initiated. You need to switch to the corresponding broker's account to cancel the authorization. Similarly, you can only submit additional information on the broker's platform where the authorization was initiated. Please switch to the corresponding broker's account.
Cross-Broker Fund Transfer FAQs:
1.Can't see the fund transfer entry?
Entry: Assets - More - Fund Transfer, select Cross-Broker Fund Transfer. If you can't see the entry, it might be due to the following reasons: (1) Only the main account has the fund transfer entry, sub-accounts do not have the fund transfer entry. Please check if you have switched to the correct account; (2) For Longbridge Securities (Singapore) accounts, if the version is lower than 4.51.0, you might not see the fund transfer entry. Please upgrade to version 4.51.0 or above.
2.Is repeated authorization required?
If you have initiated authorization with Longbridge Securities (Hong Kong) and the authorization was successful, then no further authorization is required with Longbridge Securities (Singapore). You can directly initiate the transfer request.
3.Can't submit the additional information page?
If you initiated the authorization with Longbridge Securities (Hong Kong) and the authorization was rejected, you need to provide additional information or cancel the authorization on Longbridge Securities (Hong Kong). Longbridge Securities (Singapore) can only view it;
Conversely, if you initiated the authorization with Longbridge Securities (Singapore) and the authorization was rejected, you need to provide additional information or cancel the authorization on Longbridge Securities (Singapore). Longbridge Securities (Hong Kong) can only view it;
4.Can't cancel the authorization?
The authorization application can only be canceled on the broker's platform where the authorization was initiated. You need to switch to the corresponding broker's account to cancel the authorization.
5.Transfer directions
Currently, cross-broker fund transfers support mutual transfers between Longbridge Securities (Hong Kong) and Longbridge Securities (Singapore) accounts, but the transfer method is related to the account you are currently logged into.
If you are currently logged into a Longbridge Securities (Hong Kong) account, you can only transfer from Longbridge Securities (Hong Kong) to Longbridge Securities (Singapore);
If you are currently logged into a Longbridge Securities (Singapore) account, you can only transfer from Longbridge Securities (Singapore) to Longbridge Securities (Hong Kong);
6.How is the transferable amount calculated?
After selecting the securities account for fund transfer and the transfer currency, the transferable amount is calculated based on the current cash available for withdrawal in the transfer-out account's currency. It only includes cash available for withdrawal, excluding funds in Cash Plus and similar products.
7.Fund transfer credit time
It is expected to be credited within 1-2 business days. Due to differences in local holidays between Hong Kong and Singapore, the specific business days will be based on the location of the receiving broker.