The following presents the operation process of HKD/USD withdrawal, including currency matching, bank card authentication, and other requirements, and explains the difference in Cash Plus redemption and arrival time.

1. Withdrawal Method and Arrival Time

Hong Kong banks - bank-securities transfer

• Banks supported: Minsheng Hong Kong card and bank-securities authorization has been successfully completed
• Currencies supported: HKD and USD
• Service fee: Free of charge

Tips: A single withdrawal amount of more than HKD 1,000,000/USD 150,000 requires manual approval. If the withdrawal application is submitted before 15:00 on the trading day, it is expected to be completed on the same day. If the withdrawal application is submitted at or after 15:00 on the trading day, it is expected to be completed in T+1 trading days. Please make arrangements in advance.

Hong Kong banks - FPS

• Currencies supported: HKD
• Service fee : Free of charge​​

Tips: A single withdrawal amount of more than HKD 1,000,000 requires manual approval. If the withdrawal application is submitted before 11:00 on the trading day, it is expected to be completed on the same day. If the withdrawal application is submitted at or after 11:00 on the trading day, it is expected to be completed in T+1 trading days. Please make arrangements in advance.

Hong Kong banks - wire transfer

• Currencies supported: HKD and USD
• ETA: Submit a withdrawal application before 15:30 on the trading day, and it is expected to be withdrawn on the same day. Submit a withdrawal application after 15:30 on the trading day, and it is expected to be withdrawn on the next trading day.
• Service fee: Free withdrawal for HKD. Upon withdrawal in USD, Longbridge does not charge, but banks may charge, which are subject to actual receipt.

Tips: A single withdrawal amount of more than HKD 1,000,000/USD 150,000 requires manual approval. If the withdrawal application is submitted before 11:00 on the trading day, it is expected to be completed on the same day. If the withdrawal application is submitted at or after 11:00 on the trading day, it is expected to be completed in T+1 trading days. Please make arrangements in advance.

Non-Hong Kong banks - wire transfer

• Withdrawal bank: ICBC Asia
• Currencies supported: HKD and USD
• ETA: Remit funds within 1-2 working days after applying for withdrawal. Please pay attention to the receipt notification of the receiving bank in the future. Because it involves cross-border transfer of funds, the specific arrival time is uncertain and is expected to be 3-7 working days.
• Service fee: Longbridge does not charge, but the remitting bank, transit bank, and receiving bank will charge. Among them, the remitting bank charges a fixed amount of HKD 140, plus the transit bank charge of about USD 25 (it will vary if it involves the receiving bank and the transit bank). Please refer to the actual amount received.

2. Instructions to withdrawing funds

Step 1. Confirm the currency for withdrawal and the withdrawable amount 

• Currencies available for withdrawal: HKD and USD.
• The maximum withdrawable amount will be displayed on the Withdrawal page. The maximum withdrawable amount is only the maximum withdrawable amount in the current currency and does not include amounts in other currencies. If other currencies are negative, it will affect the maximum withdrawable amount in the current currency.

Step 2. Confirm the account type of the bank card

Pay attention to whether the withdrawal currency matches the user's bank card account type. If the withdrawal fund is HKD and the bank card account type is USD, it cannot be withdrawn and the system will prompt an error.

That is, the currency for withdrawal shall match the account type of the bank card:

If you want to withdraw HKD, the bank card account type that supports withdrawal shall be a HKD account or a general account.

If you want to withdraw USD, the bank card account type that supports withdrawal shall be a USD account or a general account.

If the bank card account type information is filled in incorrectly, it can be modified or replaced with a bank card that matches the bank account type and currency. The process of modifying bank card information is as follows:

Step 3. Confirm whether the bank card has been authenticated

If the bank card is not authenticated, a bank card authentication statement is required.

• For users who have opened an account with CA authentication, if you are prompted to authenticate your bank cards, the funds can only be withdrawn after bank card authentication. For details, view: Authentication Guidelines.
• For users who open an account with transfer authentication, if the bank card has not completed the deposit witness, you need to deposit first and then complete the deposit authentication before withdrawing funds or changing your bank cards.

If it is prompted that the bank card does not support withdrawal, you need to replace the bank card.

Step 4. View fund withdrawal records

After the funds are withdrawn, you can view the fund withdrawal records

3. The amount to withdraw includes Cash Plus

1. If you open Cash Plus, the amount to withdraw will be divided into withdrawable cash and maximum withdrawable amount.

• Withdrawable cash: The amount of cash available in the current currency
• Maximum withdrawable amount: The current currency includes the maximum withdrawable amount of Cash Plus

2. If your withdrawal amount includes Cash Plus funds, the system will automatically conduct Cash Plus redemption and automatically submit a withdrawal application. Among them, it takes two working days to conduct Cash Plus redemption, and normal withdrawal can only be made after the redemption is successful. Therefore, the ETA of withdrawals will be 2 working days longer than usual.

3. You can also manually apply for the redemption of Cash Plus on the Cash Plus fund page, and withdraw funds separately after the successful redemption of Cash Plus.

FAQs

Q1: Why can't some of the funds in the account be withdrawn?

For the specific amount that can be withdrawn, please refer to the maximum withdrawable amount that can be withdrawn on the Assets > Withdrawal page. The following reasons will affect your withdrawal amount:

• Trading market rules: HK stock transactions are settled in T+2 trading days, and US stock transactions are settled in T+1 trading days. Currency exchange, withdrawal and other operations can only be performed after the transaction settlement is completed.
• If there is a balance in some currencies of your account, it will affect the amount you can withdraw in other currencies.
• If you have opened Cash Plus, after the deposits are credited, they will be automatically transferred to Cash Plus after 9:00 on the trading day. It is expected to arrive at around 17:00 on the same day. During this period, this part of the funds cannot be withdrawn and can only be withdrawn after Cash Plus has arrived.

Q2: What is the reason for the withdrawal failure?

You can click the button on the upper right corner of Withdrawal for Withdrawal Records to view detailed reasons for failure and rejection. If the bank card information is filled in incorrectly, you can modify the bank card information in Assets > Bank Card. After modification, click Assets > Withdrawal to resubmit the withdrawal application.

Q3: When will the withdrawal arrive?

• If you have submitted a withdrawal application, you can click the button on the upper right corner of Withdrawalfor Withdrawal Records to view detailed progress.
• Different bank cards have different withdrawal methods and arrival times. For details, please refer to the withdrawal method and arrival time instructions above. Generally speaking, for withdrawals to HK accounts, funds are generally received within 1-2 working days after being submitted to the bank for processing. For withdrawals to overseas banks, funds are generally received within 3-7 working days after being submitted to the bank for processing.
• If your withdrawal amount includes Cash Plus funds, the system will help customers redeem the corresponding amount of Cash Plus currency funds in the withdrawal application (generally it takes 2 trading days to redeem the account). After redemption, the withdrawal will be automatically made according to the normal time limit.

Q4: How much is the withdrawal fee?

Longbridge does not charge, but banks may charge, which are subject to actual receipt. Different bank cards have different withdrawal methods and different service fees. For details, please refer to the withdrawal method and arrival time instructions above. It is recommended to choose a HK bank card in HKD for withdrawal, and we will give priority to matching FPS withdrawal.

Notes

1. The bank account name used to withdraw funds shall be the same as the Longbridge Securities account name. You cannot use other people's bank accounts for transfers, otherwise the refund fees incurred will be borne by you.
2. Banks do not handle fund business during holidays and market closures, which may affect the arrival time of withdrawal funds. The following is an estimated time, which shall be subject to the actual arrival time. Longbridge reserves the right of interpretation.
3. Withdrawal requests will only be processed if a customer has sufficient available funds. If a withdrawal request is denied, it can be made again when the account holds sufficient available funds.

Disclosure

This article is for reference only and does not constitute any investment advice.