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"Monthly stocks Investment Plan" Frequently Asked Questions and Answers
- What are the usual forms and documents for "Monthly Stocks Investment Plan"?
- What does "Monthly Stocks Investment Plan" stand for?
- How many securities are available for selection in "Monthly Stocks Investment Plan"?
- What is the minimum investment amount required for "Monthly Stocks Investment Plan" ?
- How much does "Monthly Stocks Investment Plan" charge for?
- How can I subscribe to "Monthly Stocks Investment Plan" ?
- How do I prepare the crossed cheque?
- When will my "Monthly Stocks Investment Plan" application come into effect?
- What is the Payment Date of "Monthly Stocks Investment Plan"?
- When will Bank of Communications purchase stocks for me each month ?
- How can I check my securities purchase price and number of stock purchased?
- How does Bank of Communications handle my stock(s) purchased and residual investment amount?
- How can I sell my "Monthly Stocks Investment Plan" stock(s)?
- How can I adjust my "Monthly Stocks Investment Plan" portfolio?
- Do I need to re-apply the Direct Debit Authorization after I have adjusted my "Monthly Stocks Investment Plan" portfolio?
- When will the amendment come into effect?
- Can I terminate the plan?
- Do I enjoy the dividend payments?
"Monthly stocks Investment Plan" Frequently Asked Questions and Answers
1. |
What are the usual forms and documents for "Monthly Stocks Investment Plan"? Monthly Stocks Investment Plan Terms and Conditions Monthly Stocks Investment Plan Application Form Monthly Stocks Investment Plan Alteration Form Direct Debit Authorization Form Amendment and/or Revocation of Direct Debit Authorization |
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What does "Monthly Stocks Investment Plan" stand for? "Monthly Stocks Investment Plan" is a regular securities purchase program by investing in certain stocks on monthly basis. |
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What is the minimum investment amount required for "Monthly Stocks Investment Plan" ? The minimum monthly investment amount is HK$1,000. Extra contribution must be in multiples of HK$500. |
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5. |
How much does "Monthly Stocks Investment Plan" charge for? You only need to pay a transaction fee for each stock which is 0.25% of the monthly investment amount or HK$50, whichever is higher. The transaction fee has already included brokerage commission, stamp duty, transaction levy and trading fee. |
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How can I subscribe to "Monthly Stocks Investment Plan" ? "Monthly Stocks Investment Plan" is eligible to securities account holder. You simply complete "Monthly Stocks Investment Plan" Application Form, Direct Debit Authorization Form and a crossed cheque with initial investment amount. You may return the documents in person to any branch / sub-branch of Bank of Communications or by mail to E-Banking Services Dept., 23/F, Bank of Communications Tower, 231-235 Gloucester Road, Wan Chai, Hong Kong. |
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How do I prepare the crossed cheque? Please issue a crossed cheque made payable to "Bank of Communications Co., Ltd. Hong Kong Branch -MSIP" for the first monthly investment amount. |
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When will my "Monthly Stocks Investment Plan" application come into effect? Any "Monthly Stocks Investment Plan" Application received 7 banking days prior to the Payment Date of the following calendar month will come into effect on the Payment Date. |
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What is the Payment Date of "Monthly Stocks Investment Plan"? The Payment Date will be the sixth day (6th) of each calender month. Your monthly investment amount will be automatically debited from your bank account which is noticed in Direct Debit Authorization Form. If the Payment Date falls on a day other than a Banking Day, the Payment Date shall fall on the next Banking Day. |
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10. |
When will Bank of Communications purchase stocks for me each month ? Bank of Communications will purchase Group A stocks for you on the third trading day after the Payment Date or Group B stocks for you on the fourth trading day after the Payment Date. If the Trading Date falls on a day other than a working day, the Trading Date shall fall on the next working day. |
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How can I check my securities purchase price and number of stock purchased? You will receive a daily statement within 2 working days following the Trading date. Securities purchase price and number of stock purchased will be listed on your statement. Calculation of number of stock purchased: {Investment Amount (A) - Transaction Fee (B) } ÷ Securities Purchase Price (C). The number of shares allocated will be rounded down to the nearest whole number of shares. {No. of stock purchased = ( A - B ) ÷C } For example: By investing HK$5,000 in HSBC at the purchase price HK$92 i.e. (HK$5,000 - HK$50)÷HK$92 = 53 shares will be bought and the residual investment amount will be HK$74. |
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How does Bank of Communications handle my stock(s) purchased and residual investment amount? Your stock(s) will be deposited into your security account on the Trading Date. Any residual investment amount will be credited to your security account within 3 banking days following the Trading Date. |
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How can I sell my "Monthly Stocks Investment Plan" stock(s)? You are pleased to contact our Securities Trading Hotline to sell your stock(s). |
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How can I adjust my "Monthly Stocks Investment Plan" portfolio? You can make the adjustment by completing the "Monthly Stocks Investment Plan" Alteration Form and return the form in person to any branch / sub-branch of Bank of Communications or by mail to E-Banking Services Dept., 23/F, Bank of Communications Tower, 231-235 Gloucester Road, Wan Chai, Hong Kong. |
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Do I need to re-apply the Direct Debit Authorization after I have adjusted my "Monthly Stocks Investment Plan" portfolio? If the total monthly investment amount of your adjusted "Monthly Stocks Investment Plan" portfolio is same as the previous one, please follow the requirement mentioned in Question 14. Otherwise, please fill in the Amendment and/or Revocation of Direct Debit Authorization and send it with "Monthly Stocks Investment Plan" Alteration Form to our bank. |
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When will the amendment come into effect? Any "Monthly Stocks Investment Plan" amendment received 7 banking days prior to the Payment Date of the following calendar month will come into effect on the Payment Date. |
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Can I terminate the plan? You can terminate your plan by completing the "Monthly Stocks Investment Plan" Alteration Form and return the form in person to any branch / sub-branch of Bank of Communications or by mail to E-Banking Services Dept., 23/F, Bank of Communications Tower, 231-235 Gloucester Road, Wan Chai, Hong Kong. However, the cancellation process will take you one month to become effective upon the receipt of your notice. If your settlement account for Direct Debit Authorization is not offered by Bank of Communications, you need to inform such cancellation to the bank of your settlement account. |
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Do I enjoy the dividend payments? You will enjoy the same shareholder's rights including dividend payments and bonus shares after joining "Monthly Stocks Investment Plan". |
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The above information is for reference only. For further details, please visit any of our branch and sub-branches or call our customer service hotline.
