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Current Location >> Personal Banking>> Internet Banking>> Internet Banking FAQ>> Foreign Exchange

Foreign Exchange

1.   What are the services offered under "Foreign Exchange"?

Buy/Sell - You may either buy or sell HKD against foreign currency; Besides, you may conduct cross currency exchange transaction as well.
Limit/Circular Order - There are two limit orders, namely 'Execution Rate' and 'Execution Cycle' . Execution Rate Order refers to an exchange rate pre-set by customer. The FX transaction (buy or sell) will be executed automatically as long as the spot rate hits the pre-set rate. For Execution Cycle Order, the FX transaction (buy or sell) will be executed at regular intervals (each business day, the first business day of every week/month/season) regardless of rate movement;
Order Enquiry/Cancellation - You may enquire the order(s) which have been placed and are valid in a designated account and/or you may choose to cancel the order(s);
Transaction History - You may enquire the executed order records of your account.

2.   Is there any restriction on the trading amount of every foreign exchange transaction?

The trading value of every foreign exchange transaction have to be between 20 HKD to 2000000 HKD, or equivalent.

3.   How can I edit / cancel the "Limit / Circular Orders"?

Before the execution date of the order(s), you may cancel them by accessing "Foreign Exchange" > "Order Enquiry / Cancellation" on the Internet Banking platform.

4.   Is it essential to have corresponding amount of deposit in my account when I set up limit / circular orders? Will BOCOM hold up the corresponding deposit balance in my bank account until the moment of executing transaction order?

When you set up a Limit/ Circular Order, it is not compulsory to have correspondent amount of deposit in your account. However, your orders would not be executed during the pre-set date, if there do not have enough deposit in your bank account for the transaction.

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