- How is Cash+ Fixed HKD different from Cash+ Flexi USD (previously Cash+)?
- Is Cash+ Fixed HKD safe?
- How many Cash+ Fixed HKD investments can I have?
- Can a business / corporation open a Cash+ Fixed HKD investment?
- Why doesn’t Cash+ Fixed HKD charge users a fee?
- Does the rate change often?
- Can the fixed returns change?
- Is there a lock-in period?
- Is there a minimum or a maximum investment amount?
- Are the Cash+ Fixed HKD returns accrued daily?
- What’s the difference between Cash+ Fixed HKD and a time deposit account?
- What are the terms Cash+ Fixed HKD offers for investment?
- What is Cash+ Fixed HKD?
- Why doesn’t Cash+ Fixed HKD charge users a fee?
- Will there be a change in the fixed return?
- How are the returns fixed?
- How does Syfe work with bank providers to secure optimized rates?
General
Support centre
How can we help you invest better?
General
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Both are cash management solutions offered by Syfe. However, there are some fundamental differences between these two.
Cash+ Flexi USD is ideal for those who need the flexibility of liquidity. Cash+ Fixed HKD is more suited for those who prefer to get fixed returns at the end of a term during which the funds will not be withdrawable.View more
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Yes, Cash+ Fixed HKD is considered to be a very low-risk investment.
When you transfer funds to Syfe, these funds are invested in time deposits with leading banks in Hong Kong. Syfe partners up with Tier 1 reputable banks with strong credit rating.
For further assurance, all client funds in Syfe Cash+ Fixed HKD are held in a designated client money account with leading banks in Hong Kong. This means your funds remain safe even if Syfe stops operating, as we don't hold or have access to any client funds. Learn more here.
While this service does not fall under the Hong Kong Deposit Protection Scheme (DPS), customers can invest with confidence because we only partner with banks that are financially sound.
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There is no limit to the number of investments you can make. You can make multiple investments that mature on different dates while earning fixed returns concurrently. By doing so, you create a “ladder” of maturity dates for your multiple fixed investments, giving you the flexibility to access funds and take advantage of fluctuating returns.
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Syfe supports businesses globally and can provide tailored solutions, subject to legal and regulatory requirements. For more information, please contact us at support.hk@syfe.com
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From the rate we obtain from our partner bank, we take a slight spread before extending to you a rate that is still very attractive in the market. Once your investment begins, your Cash+ Fixed HKD is assured to provide returns at the same rate. Our commitment is to deliver exceptional products, coupled with an unparalleled user experience, and this spread facilitates our ability to fulfill that commitment.
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We will evaluate the rates daily and implement updates as deemed necessary. You can access the most current rate information on both the website and the app.
In the event that we need to update the rate, we may temporarily deactivate the details page for your unlocked investment on the App. After the rates have been refreshed, you will have the opportunity to review and secure your investment.
Rate adjustments only apply to investments that have not started investing. If your funds are processed during a rate adjustment, your details page will display "Rate on hold." Your funds will remain uninvested until the rate adjustment concludes.
Once the updated rate is active, we will compare it to the rate you initially observed when you created this investment. If the updated rate is lower, your funds won't be automatically invested. You will be notified of the rate decrease and given the choice to lock in at the updated rate, withdraw funds, or reallocate to another portfolio.
If the updated rate is equal to or higher than the rate you initially observed when you created this investment, your funds will be automatically locked in at the updated rate, providing you with improved returns for your investment. This ensures that you consistently benefit from the best and most current rates for your Cash+ Fixed HKD.
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Once the investment starts, it will remain unchanged throughout the entire period depending on the term that you have chosen.
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Yes, there is a lock-in period depending on the term that you have chosen. Syfe currently offers 1 month, 3 months and 6 months for Cash+ Fixed HKD. If the maturity date of the investment falls on a non-business day, your investment will instead end on the next business day. Pro-rated returns will be earned on the additional days.
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No, You have the flexibility to fund with any amount. There is no minimum or maximum requirement.
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The returns are accrued daily, however, they are not compounded.
In order for you to get a better understanding of your investment and its performance, we display the total accrued return to-date under the current value of your investment. Please note that these returns are indicative only and they are only available after maturity.
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The below table highlights the key differences between Syfe Cash+ Fixed HKD and time deposit accounts at banks.
*Time deposit account benchmarks are taken from the 6-month term rates offered by the top 10 Hong Kong banks (in terms of total assets), as of 13 March 2024.
Cash+ Fixed HKD is an investment management service, and should not be taken as a collective investment scheme or a deposit or savings account. The optimised rates are not due to the pooling of invested funds by Syfe, and Syfe is not offering Cash+ Fixed HKD as a fund, scheme, or portfolio with a pooling element. Until the investment starts, the return rate is subject to change. Cash+ Fixed HKD returns are fixed, subject to underlying bank risk. All Cash+ Fixed HKD returns are only available after maturity.
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Cash+ Fixed HKD is an investment management service wherein your funds are placed in time deposits with leading banks in Hong Kong. The displayed rate represents the fixed return you will receive on your investment at the end of the term. Please note Cash+ Fixed HKD should not be taken as a collective investment scheme or a deposit or savings account, and does not involve any pooling.
Here's a summary of how it works:- Create a Cash+ Fixed HKD investment on Syfe App.
- Add funds.
- Once we process, the funds will automatically be locked and queued for investment.
- Your funds will be invested within one business day.
- Over the term you have chosen, you'll have the flexibility to decide whether you want to reinvest or not when the term concludes. If you opt not to reinvest, your funds will remain in Cash+ Fixed HKD until you determine your next course of action, which may be reinvesting for another term at the prevailing rate, withdrawing, or reallocating your funds.
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From the rate we obtain from our partner bank, we take a slight margin before extending to you a rate that is still very attractive in the market. Once your investment begins, your Cash+ Fixed HKD is assured to provide returns at the same rate. Our commitment is to deliver exceptional products, coupled with an unparalleled user experience, and this margin facilitates our ability to fulfill that commitment.
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Once your investment begins, the fixed return and rate will not change during the entire duration of the investment. -
Returns are fixed once we invest your funds in time deposits with a partner bank for your chosen term. When the term ends, you will receive returns from the underlying time deposits at the fixed rate that you had secured at the beginning of the term.
Please note, that until the investment starts, the return rate is subject to change. If the return rate changes, you will be notified.
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Syfe maintains partnerships with leading banks in Hong Kong that offer time deposits. We regularly assess the rates from these providers, along with market rates, to ensure that Cash+ Fixed HKD rate remains competitive.
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