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How do I transfer funds to my Syfe portfolio?

  • A one-time transfer from your bank account to your Syfe account. You may use Bank Transfer to transfer funds in HKD or USD^.

    1. If you are transferring from an HSBC bank account, you can transfer via Internet Banking (SWIFT BIC code or Bank Clearing Code)
    2. If you are transferring from other bank accounts, you can transfer via branch transfer (RTGS)* or Internet banking

    For automatic recurring transfers from your bank account to your Syfe account, please set up a standing instruction with your bank to do so. The timeframe is up to you and you can choose to set up weekly, bi-weekly, or monthly contributions.

    You can check the below articles for further details.
    How do I set up a standing instruction / recurring transfer with Hong Kong's local banks?

     

    ^If you are transferring USD from a non-HSBC bank account, there may be bank charges imposed by  your bank, and these charges are at the full discretion of the banks which will be borne by the customer. 
    *Please note that for RTGS transfers, the banks may charge a fee, which will be incurred to you.

     

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  • A transfer plan tells us how you want to allocate your money when you have one or multiple portfolios.

    You can access your transfer plan through “Add New” or “Manage Funds”. You can re-use or edit your transfer plan while there isn't any funds processing. We will always invest your funds according to your latest transfer plan.

    We support bank transfer. Once we have received your money, we will allocate it according to your transfer plan.

    As per Securities and Futures Commission regulations, we are required to verify your identity by an initial deposit of not less than HK$10,000 or USD 1,300 bank transfer from your bank account, in order to open a Syfe account for you. After account opening, there is no minimum investment amount to get started.

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  • After completing the onboarding process, you can set up the transfer plan to transfer funds to activate your portfolio.

    Transfer plan cannot be edited after Syfe has initiated the processing of funds. The transfer plan can only be edited after the initial deposit has been processed. You can click here to further understand how to update your transfer plan.

    You can easily set up your transfer plan in app by following the steps below.
    Setup Transfer Plan Guide

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  • You can access to your transfer plan through “Add New” or “Manage Funds”. You can re-use or edit your transfer plan while there isn't any funds processing. We will always invest your funds according to your latest transfer plan.
    You may continue to edit your transfer plan if Syfe has not received your funds in our Syfe account and your incoming transfer will be split according to the new transfer plan.

    You are not allowed to edit your transfer plan if Syfe has received your previous deposit and the funds are currently under process. It usually takes 1 business day to process your transfer. You will be allowed to edit your transfer plan once the previous deposit has been invested into your portfolio.
    Please check this tutorial for further understanding.
    Update Transfer Plan Guide

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  • As per Securities and Futures Commission regulations, we are required to verify your identity by an initial deposit of not less than HK$10,000 or USD 1,300 bank transfer from your bank account, in order to open a Syfe account for you. After account opening, there is no minimum investment amount to get started.

    There is no minimum holding or lock-in period for your Syfe investments as well. You can withdraw your funds at any time with no withdrawal fees charged. This applies across all our portfolios. Bank charges may still apply. Please check with your bank for further details. 

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  • After making a funds transfer, you may see your portfolio asset allocation reflected as "100% Cash" on your dashboard. This is perfectly normal. It simply means that your funds have been received and will be invested for you. You'll see your portfolio composition updated to reflect your investments the next working day around 2pm.

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  • After making a transfer to your Syfe account, you will receive an email from us confirming the receipt of your funds. This email will be sent within one working day.

    Once received, your funds will be invested in 1 - 2 working days, and you will be able to see this reflected on your dashboard.

    For funds transferred before 9am on weekdays, we will work hard to invest your funds within the same business day. However, we cannot guarantee that this is always possible. 

    In some cases, the process can take longer if there are supporting documents pending. We may require additional supporting documents from you to complete your account opening or to verify your bank details before we can invest your funds. Please check the email address your Syfe account is registered with to see if you have received a reminder from our support team.

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  • You will need a Hong Kong local bank account in order to invest with Syfe. Syfe currently only accepts transaction by Hong Kong local banks.

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  • If you have more than one Syfe portfolio, you can choose to transfer funds from one portfolio to the other via your Syfe dashboard. Simply follow the instructions below or refer to our guide.

    1. Log in to your Syfe account 
    2. Select the portfolio you wish to transfer money out from
    3. Click on 'Manage funds', followed by 'Transfer between Syfe portfolios'
    4. Select which portfolio you wish to transfer money into
    5. Enter the necessary transfer amount and hit submit

    Kindly note that this process involves us selling assets in the portfolio you want to transfer funds out from, and using the proceeds to buy assets in the second portfolio you want to invest in.

    During this period, the price of your assets may go up or down and change your portfolio value. Therefore, the final amount transferred to your portfolio may be different than what you saw in the dashboard at the time of placing the internal transfer request.

    The internal transfer will be done for you within 2 - 4 working days.

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  • Your Syfe account can be funded in both HKD and USD. 

    As our Syfe Core and Syfe Select portfolios are USD denominated, our broker Interactive Brokers charges Syfe customers a very low currency conversion fee of 0.002% to place trades from their HKD denominated accounts, and this will be borne by Syfe. Retail investors generally pay much more 0.3% in currency conversion fees.

    As for Syfe Cash+, please refer to link

    If customers transfer funds in USD, there will be no currency conversion fee since our investing currency is in USD for the Syfe Core and Select portfolios.

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  • As Syfe's account takes only USD and HKD your funds will get converted to either USD or HKD at our bank HSBC prevailing rates.

    All forex conversions will be done at HSBC rates and the forex rate is calculated at the time of the transfer. 

    Funds converted to either USD or HKD will be invested in your selected portfolio. There is no minimum investment amount for both HKD and USD funds. We are only required to verify your identity by an initial deposit of not less than HK$10,000 or USD 1,300 bank transfer from your bank account, in order to open a Syfe account for you.

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  • As part of SFC rules and regulations, we cannot accept funds that are transferred from a third party. Funds transferred have to originate from your own name and bank account.

    Funds will be returned to the remitting account or the person who made the transfer. You may then make a new transfer from your own bank account.

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  • Syfe accepts transfers from banks in Hong Kong and SFC-licensed Financial Institutions (FI) or Corporations. If you would like to make a transfer from a FI that is not licensed by SFC, we may reject the transfer and return the funds to you. Please note that all fund transfers will be subject to our Anti-Money Laundering (AML) checks.

     

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