FAQ of Monthly Investment Plan for Stocks

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1.
How can I subscribe to the Monthly Investment Plan?
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. 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.
2.
Can joint name account customers setup Monthly Investment Plan through Hang Seng Personal e-Banking?
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. 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.
3.
How can I amend or terminate my Monthly Investment Plan, for example, amend the selected security, direct debit account or monthly investment amount?
You can amend or terminate your monthly investment plan at no charge by clicking on 'Current Plan' under Hang Seng Personal e-Banking and making the relevant changes. All instructions will take effect in the following calendar month after receiving the instructions.
4.
Can I set up more than one Monthly Investment Plan with the same security?
No. You cannot select the same security 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 security.
5.
How can I check pending instructions?
Customers can check pending instruction details by clicking on 'Pending Instruction' of 'Monthly Investment Plan' under Hang Seng Personal e-Banking. 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.
6.
How can I check my current balances and current plans?
You can check the details of current balances and current plans by clicking on 'Current Holdings' and 'Current Plan' of 'Monthly Investment Plan' under Hang Seng Personal e-Banking. 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.
7.
When will the Bank purchase securities for customers?
Under normal market situations, the Bank will commence security purchase for customers on the third trading day after the payment date, around 15 minutes after the market opens. If trading of the selected security is suspended or security purchase cannot be executed due to market conditions, the Bank will try to purchase the security on the next trading day. If the security purchase cannot be executed due to trading suspension or market conditions for the following three consecutive trading days, the Bank will refund the full investment amount (including handling fee) to customers' payment accounts in the same month.
8.
How many shares/units of the selected security will be allocated to customers?
The net amount after deducting the handling fee from the monthly investment amount will be invested in the relevant security selected by the customers. The number of shares/units of the 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.
9.
How is the purchase price be determined?
The purchase price of a security is the average price of the security 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 HKD18 and another 1,000 shares at HKD20, the average price would be HKD19. The shares will be allocated to customers' Monthly Investment Plan securities account on a pro-rata basis based on their monthly investment amount.
10.
Under what situations will the Bank terminate my Monthly Investment Plan?
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).
11.
How can I handle my securities if all my Monthly Investment Plans are terminated?
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, 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.
12.
Can I sell the securities under Monthly Investment Plan account at any time?
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, 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 3838) and at designated Hang Seng Bank branches.
13.
What kinds of instruction type I can use for selling securities in my Monthly Investment Plan account?
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.
14.
How am I notified of the execution result of my sale instruction?
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 for the execution result of your sale order. 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 a text message. You can also check the execution details by using the 'Order Status' function via Hang Seng Personal e-Banking.
15.
Do Monthly Investment Plan holders enjoy the same rights as normal shareholders?
Yes. Monthly Investment Plan holders enjoy the same rights as normal shareholders, including dividend payments and bonus shares.
16.
What will happen if the selected security is removed from the eligible securities list of Hang Seng Monthly Investment Plan for Stocks?
Existing customers who are investing in the removed security 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 security from other customers. The securities available for selection under a Hang Seng Monthly Investment Plan for Stocks will be adjusted according to the changes in the composition of Hang Seng Index constituent stocks.

17.
Can I buy the securities with Monthly Investment Plan account via Normal Order, Market Order and At-auction Order and At-auction Limit Order?
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.



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