[HK bank] Initiate eDDA deposit via App
1. What is eDDA?
eDDA (Electronic Direct Debit Authorization) Deposit is a fast deposit method based on "HK FPS". By authorizing bank account, customers can initiate a deposit in FUTU APP instead of dealing with complex bank transfer. Funds can be transferred from your bank account into your FUTU account according to your deposit instruction.
Notes:
1. FPS refers to 'Hong Kong Faster Payment System', which is an online payment platform launched by the Hong Kong Monetary Authority.
2. Supported currency of eDDA: HKD only
2. Advantages of eDDA
● Instant: Funds will be credited within 5 minutes after initiating the deposit instruction.
● Free: eDDA authorization and deposit service are free of charge.
● Convenient: Customers only need to initiate the deposit instruction on FUTU APP instead of dealing with complicated bank transfer, and there is no need for customers to upload the transfer voucher for verification.
3. List of supported banks
HSBC Bank, Hang Seng Bank, Bank of China (Hong Kong), Nanyang Commercial Bank, FUSION Bank, ICBC(ASIA), CMB Wing Lung Bank, Standard Chartered Bank, CHINA CITIC BanK, ZA Bank, Chiyu Bank, AIRSTAR Bank, CHINA CONSTRUCTION BANK (ASIA) CORPORATION LIMITED, Livi Bank, Dah Sing Bank, China Merchants Bank (Hong Kong Branch).
4. eDDA Authorization/Deposit Instructions
4.1 eDDA Authorization
For HSBC/HangSeng Bank/Bank of China(HK), cutomers can finish bank account eDDA authorization in FUTU APP.
● PATH: Launch FUTU APP - Click [Accounts] on the bottom - Click [Any Account] - Click [Transfers] - Find [Bank Account] - Select [Add Bank Account] - Select [Hong Kong Bank Account] - Select Bank by clicking on [Bank Code and Bank Name] - Switch on [Activate eDDA Fast Deposit] and fill in the information - Click [eDDA Authorization and Link] to authorize your bank account.
For other Hong Kong bank account, please visit your bank APP/Web and find eDDA authoriztion to finish authorization.
4.2 Initiate a Deposit Instruction
After Finishing bank account eDDA authorization, you can initaite your deposit in FUTU APP now.
● PATH: Launch FUTU APP - Click [Account] on the bottom - Click [Any Account] - Click [Transfers] - Find [Deposit] - Select HKD Deposit - Enter the amount you need to deposit - Click [Deposit] to submit your deposit request.
5. Authorizing Time
Generally complete in 10 seconds.
Note: In some cases, authorization completion time might be delayed because of queueing.
6. Credited Time
| Deposit Time | Estimated Available Time |
| Mon 08:00 - Sat 09:55 | Within 5 Minutes |
| Other times | Before Mon 08:10 |
Notes:
1. If you have arrears in your FUTU account, the deposit amount returned before 15:55 on the trading day will stop calculating the interests on the same day. The deposit amount returned at other time will stop calculating interests on the next trading day.
2. Deposit credited before 15:55 on the trading day will record in the statement on the same day. Deposit credited at other times will appear in the statement on the next trading day.
3. The above estimated available time is for reference only. The actual available time may be affected by various factors, such as holidays, incorrect information, etc. Please refer to the actual available time.
7. eDDA Deposit Fees
Free of charge
Disclaimer
1. The above guide screenshots are shared by users for reference only. If there is any discrepancy between the screenshots and the actual interface of the bank, please confirm with the bank regarding the filling of the content.
2. FUTU HK may update the relevant content of this article in the help center from time to time without prior notice.
3. FUTU HK will not be liable for any form of losses caused by this guide or content updates.