Four lightning-fast methods for funding Hong Kong and U.S. stocks that will drop your jaw!

As global investment channels gradually open up, more and more individual investors are showing a keen interest in the Hong Kong and U.S. stock markets. After all, these markets are known for their maturity, transparency, and high liquidity, attracting the attention of numerous international investors. However, for many beginners trying to invest for the first time, efficiently and safely funding a Hong Kong and U.S. stock brokerage account is a big challenge. This article will introduce several common funding methods to help you smoothly complete the first step of investing.

Wire Transfer

Wire transfer is the most direct way to fund Hong Kong and U.S. stocks. With this method, you can transfer money directly from your bank account to the brokerage account of Hong Kong and U.S. stocks.

Steps:

• Confirm broker information: Before making a wire transfer, you need to obtain the correct bank account information from your broker, including the bank name, SWIFT code, account number, etc.
• Contact your bank: Take your ID and the necessary bank information to your bank or initiate a wire transfer request online.
• Pay the fee: Wire transfers usually require a certain fee, which may vary depending on your bank and the amount of money transferred.
• Wait for the funds to arrive: The speed of wire transfers is relatively fast, and funds usually arrive within a few business days.

Pros and Cons:

• Pros: Faster speed.
• Cons: Relatively high fees, not suitable for frequent small transactions.

BiyaPay Multi-Asset Broker

Established in 2019, BiyaPay is a multi-asset wallet that supports both fiat and digital currencies. It not only supports mixed exchanges of dozens of global fiat currencies and more than two hundred types of digital currencies but also aims to provide users with safer and faster international remittance.

It is also a professional tool for funding and withdrawal for U.S. and Hong Kong stocks, with online account opening, no need for an offshore bank account, and exchanges USDT for USD. Funding Charles Schwab incurs the lowest fee of 20 USD, with same-day remittance reaching on the same day.

Moreover, BiyaPay has dedicated one-on-one service advisors to guide in funding and withdrawal. If there are any issues, you can contact the service advisor, which I personally find quite convenient.

Two methods to use BiyaPay for funding U.S. stock transactions:

Through BiyaPay for currency exchange, using Charles Schwab as an example: BiyaPay has no limit on the amount, supporting both wire transfer and ACH. You can directly fund through ACH with zero bank fees, typically reaching the same day.

Directly recharge digital currency (USDT) in BiyaPay to exchange for U.S. dollars and trade U.S. and Hong Kong stocks, without the need for an offshore bank account. Identity verification with an ID card or passport allows you to trade U.S. and Hong Kong stocks anytime, anywhere. This method saves the cumbersome steps of fiat currency funding and withdrawal with traditional brokers and also saves various cost losses, making it a good choice. If you already have bank accounts in Hong Kong, the U.S., or other overseas locations, you can also exchange currencies from BiyaPay, withdraw and then fund brokers like Interactive Brokers or Tiger Brokers, quickly and conveniently, with unlimited amounts, same-day remittance, and enjoying the lowest fees.

Steps (using Charles Schwab as an example):

• Download the BiyaPay App, click “Register” to enter the account opening page, and fill in personal email information in just three steps.
• Click on the top right corner, enter the personal center, and complete identity verification.

Recharge USDT

• On the home page of the APP, click “Transfer in”, select “On-chain recharge”, recharge USDT, recharge your USDT from other wallets to your BiyaPay account.

Bind account

• Click on the top right corner to enter the personal center, click “Bank Account”, and bind the debit card you obtained from opening an account with Charles Schwab.
• Then click next, fill in personal information, and submit the account for review, which is usually approved on the same day.
• On the home page, click “Transfer out”, click “Bank account withdrawal”, select the currency, fill in the withdrawal amount, click next to withdraw to the linked bank account.
• Next, just wait for Charles Schwab to receive the funds. If it’s a same-day withdrawal, it will be credited during U.S. business hours.

Characteristics of USDT funding through BiyaPay to Charles Schwab:

• Fast arrival time (credited during U.S. business hours)
• Single ACH limit of 200,000 USD, no limit on wire transfers
• No need to handle an additional overseas bank account
• No risk control
• Fees as low as 0.05%

ACH Transfer (Automated Clearing House)

If you have a bank account in the U.S., you can choose to fund via ACH transfer, which usually does not require high fees.

Steps:

• Link U.S. bank account: In your broker account settings, add and verify your U.S. bank account information.
• Initiate transfer: Once the account link is successful, you can directly initiate an ACH transfer from the broker interface.
• Wait for fund settlement: The settlement time for ACH transfers is relatively long, usually taking 3-5 business days.

Pros and Cons:

• Pros: Usually no fees, suitable for regular small investments.
• Cons: Transfer speed is slow, and fund usability is not as flexible as wire transfers.

FPS (Fast Payment System) (Hong Kong cards only)

FPS (Faster Payment System) is an internet payment platform launched by the Hong Kong Monetary Authority in 2018, similar to Alipay, and is the most common method for funding and withdrawal with Hong Kong cards.

Hong Kong brokers all have Hong Kong corporate bank accounts, and FPS simultaneously binds the broker’s bank account and the client’s Hong Kong card account, enabling real-time crediting without fees.

Steps:

• Log in to the Hong Kong card APP, select the “Fast FPS” transfer method, enter the broker’s FPS identification code, and complete the real-time transfer with one click.
• Then open the broker APP, click “I have funded, notify XX broker”.

Pros:

• Real-time crediting: FPS offers an instant transfer feature, meaning funds can be transferred to the broker account in a short time, allowing investors to quickly respond to market changes.
• No fees: Using FPS for transfers generally does not incur additional fees, which is a clear advantage for retail investors who frequently conduct small transactions.
• Easy operation: Operated through the Hong Kong bank’s APP, users only need to enter the broker’s FPS identification code to complete the transfer, making the entire process simple and fast.

Cons:

• Limited transfer amount: The daily transfer limit of FPS is restricted by various banks, such as a limit of 200,000 HKD/day for Standard Chartered Bank and 150,000 HKD/day for China Minsheng Bank, which may not meet the needs of large investors.
• Limited to Hong Kong bank accounts: FPS is limited to Hong Kong bank accounts, which may pose a barrier for international investors without such accounts.
• Applicability restrictions: As different banks and brokers may have varying degrees of implementation and support for FPS, users may need to further confirm the specific policies of relevant brokers and banks when choosing to use FPS.

In conclusion, there are diverse methods for funding Hong Kong and U.S. stocks, each with its own features and suitable situations. Investors should choose the most appropriate funding method based on their specific needs and conditions to ensure the safety of funds and the smooth progress of investments. On the path of cross-border investment, rational planning and cautious operation are key to success.