Frequently Asked Question
For sole name Integrated Account customers, you can open a securities account for Monthly Investment Plan and set up a new plan through Hang Seng Personal e-Banking (desktop version). The new Monthly Investment Plan will be effective in the next calendar month and the first payment date will be on the 10th of the following calendar month. The payment date will be postponed to the next clearing day if the 10th of the month falls on a Saturday, Sunday or public holiday.
Joint name Integrated Account customers need to open a securities account for Monthly Investment Plan at our branches first, then they can set up a Monthly Investment Plan through Hang Seng Personal e-Banking (desktop version). The new Monthly Investment Plan will be effective in the next calendar month and the first payment date is on the 10th of the following calendar month. The payment date will be postponed to the next clearing day if the 10th of the month falls on a Saturday, Sunday or public holiday.
You can amend or terminate your monthly investment plan at no charge by clicking on Current Plan and making the relevant changes. All instructions will take effect in the following calendar month after receiving the instructions.
No. You cannot select the same stock for more than one Monthly Investment Plan if you have already set up a monthly investment plan or have a set-up/amend instruction pending for the selected stock.
Customers can check pending instruction details by clicking on 'Pending Instruction' of 'Monthly Investment Plan'. Under this section you can also amend or cancel pending instructions. Amendments to pending instructions will take effect in the following calendar month. Cancellations of pending instructions will take effect immediately.
You can check the details of current balances and current plans by clicking on 'Current Holdings' and 'Current Monthly Investment Plans' of 'Monthly Investment Plan'. You will receive a contract note with details of the subscription price and quantity after every purchase transaction. You will also receive securities account statements every month which list out the detail quantities of securities held and the market value.
Under normal market situations, the Bank will commence securities purchase for customers on the third trading day after the payment date, around 15 minutes after the market opens. If trading of the selected stock is suspended or stock purchase cannot be executed due to market conditions, the Bank will try to purchase the stock on the next trading day. If the stock purchase cannot be executed due to trading suspension or market conditions for three consecutive trading days, the Bank will refund the full investment amount (including handling fee) to customers' payment accounts in the same month.
The net amount after deducting the handling fee from the monthly investment amount will be invested in the relevant stock selected by the customers. The number of shares/units of securities will be rounded down to the nearest whole number of shares/units. Any residual investment amount will be refunded to customers' payment accounts in the same month.
The purchase price of a stock is the average price of the stock purchased by the Bank on behalf of customers after consolidating customers' investment amounts. These prices may include both board lot and odd lot prices. For example, if the Bank purchases 1,000 shares of Stock A at HKD1818 hong kong dollar and another 1,000 shares at HKD2020 hong kong dollar, the average price would be HKD1919 hong kong dollar. The shares will be allocated to customers' Monthly Investment Plan securities account on a pro-rata basis based on their monthly investment amount.
All Monthly Investment Plans will be terminated if the Bank is unable to debit your designated account for the required monthly investment amount for two consecutive months and any amendment or termination instruction made on the current Monthly Investment Plan will be cancelled automatically (new set up instruction made during this period will not be affected).
You can sell or retain the securities under your Monthly Investment Plan account. If you sell securities through your Monthly Investment Plan account, the Bank will impose brokerage fee, stamp duty, SFC transaction levy, AFRC transaction levy, trading fee and other relevant charges. If you retain securities in your Monthly Investment Plan account after the termination of all your Monthly Investment Plans, the Bank will impose normal securities services charges, including safe custody fee, nominee services fee and other relevant charges.
Yes. Securities purchased through the Monthly Investment Plan can be sold as normal securities - board lots are sold at board lot prices and odd lots at odd lot market prices. If you sell securities through your Monthly Investment Plan account, the Bank will impose brokerage fee, stamp duty, SFC transaction levy, AFRC transaction levy, trading fee and other relevant charges. Customers can sell securities under their Monthly Investment Plan account through Hang Seng Personal e-Banking, Manned Securities Trading Hotline (2532 38382 5 3 2 3 8 3 8) and at designated branches.
You can use Normal Order (For pure odd lot, you must place sale instruction via Market Order), Market Order and At-auction Order and At-auction Limit Order during auction trading (Odd lot will not be accepted in the auction trading session) for selling securities in your Monthly Investment Plan account.
If your sale instruction is placed via Hang Seng Personal e-Banking, we will send you an email to "Inbox" of your Hang Seng Personal e-Banking (desktop version) for the execution result of your sale orders. If you have enrolled for Securities Instant Order Confirmation Service for your Monthly Investment Plan account, then you will be notified of your order execution results through your mobile phone in form of text message. With effect from 27 June 2016, integrated account securities customer1Footnote remark 1 who already registered Hang Seng Personal e-Banking and with a valid mobile phone number (either a Hong Kong or overseas mobile number) provided to the Bank, the Bank will notify you the execution result of your securities orders placed via the Bank by SMS. No charge and pre-registration are required for this arrangement. You can also check the execution details by using the 'Order Status' function via Hang Seng Personal e-Banking.
Remark(s)
1
Include those who have a monthly investment plan for stocks sub-account under the Integrated Account. If an overseas mobile number is provided, customers are reminded to check with their telecommunication vendor on the support to receive SMS from Hong Kong.
Yes. Monthly Investment Plan holders enjoy the same rights as normal shareholders, including dividend payments and bonus shares.
Existing customers who are investing in the removed stock on Monthly Investment Plan can choose to continue investing, make any amendment or terminate the Plan. The Bank will not accept new applications to set up a Monthly Investment Plan for the removed stock from other customers. The securities available for selection under a Hang Seng Monthly Investment Plan (Stocks) will be adjusted according to the changes in the composition of Hang Seng Index constituent stocks and review of the Bank from time to time.
No. You can only sell your securities balance under your Monthly Investment Plan account via Normal Order, Market Order and At-auction Order and At-auction Limit Order.