FAQ

Foreign Exchange Service

What foreign currency services does EBSHK Direct Currency Switching provide?

We provide multi-currency switching between 11 currencies: HKD, CNH, USD, EUR, GBP, JPY, CHF, CAD, SGD, AUD and NZD.

Last Update: 2021-01-22

Who are eligible to use Currency Switching services?

Holders of SHKOS account with Global Payments (GP) account are eligible to use Currency Switching services.

Last Update: 2021-01-22

Will I get real-time exchange rates?

Yes, real-time exchange rates will be applied to transactions.

Last Update: 2021-01-22

Is there a minimum amount per transaction?

There is a minimum of USD 1 per transaction.

Last Update: 2021-01-22

Is there a maximum amount per transaction?

The maximum amount per transaction is limited to the available cash balance in your account. Transactions over USD10 million (or equivalent in other currencies) require additional review and may not be processed as straight-through execution.

Last Update: 2021-01-22

What kind of orders can I place?

Currently, Currency Switching services only support spot trade.

Last Update: 2021-01-22

Are there extra charges or fees for each transaction?

There are no commissions or extra charges to conduct Currency Switching transactions.

Last Update: 2021-01-22

Can I buy/sell foreign currencies at any time of the day?

Currency Switching operates 24 hours a day and 5 days per week from Monday 5am (HKT) to Saturday 5am (HKT) (excluding public holidays) in U.S. summer time; during U.S. winter time, the operating time is from Monday 6am (HKT) to Saturday 6am (HKT).

Last Update: 2021-01-22

Will I receive a confirmation of my currency switching transaction?

Once a transaction is agreed to proceed and the order is executed, an email confirmation will be sent to the e-mail address registered with your account. The transaction will also be shown in “My account overview” and “Account balance summary” in the trade portal. In addition, the daily and monthly statements will reflect the transaction.

Last Update: 2021-01-22

Can I withdraw foreign currencies through Currency Switching?

If you would like to withdraw foreign currency from your SHKOS account you can place instructions to transfer HKD, USD and CNH to your registered local bank account, while other currencies will be processed as telegraphic transfers to your own account. For the relevant charges please refer to section A.8 of our fee schedule. If you require regular and timely foreign exchange payments for your business or personal needs overseas, we recommend our International Money transfer Service – Global Payments, with competitive FX rates and no transfer fee. To find out more, please click here

Last Update: 2021-01-22

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