Home >>Financial Markets >>Cooperation with Non-banking Institutions >>Bank-futures Cooperation >>Bank-Futures direct express
1) Q: Which client does IB's bank-futures direct express support?
A: Individual clients, organization clients.
2) Q: What are the transaction channels of IB's bank-futures direct express?
A: Investors may initiate transactions over counters of bank, Internet banking, mobile banking, telephone banking and Client of futures companies.
3) Q: Which services could be initiated at each channel of bank-futures express?
|Counter||Internet Banking||Futures companies|
|Individual clients||Sign agreement, cancel agreement, transfer (bank-to-futures, futures-to-banks), inquiry of balance and transfer details, print voucher||Sign agreement, cancel agreement, transfer (bank-to-futures, futures-to-banks), inquiry of balance and transfer details, futures-securities pass (securities-to-futures, futures-to-securities).||Sign agreement, cancel agreement, transfer (bank-to-futures, futures-to-banks), inquiry of balance and transfer details|
|Organization clients||Sign agreement, cancel agreement, transfer (bank-to-futures, futures-to-banks), inquiry of balance and transfer details, print voucher||Sign agreement, cancel agreement, transfer (bank-to-futures, futures-to-banks), inquiry of balance and transfer details||Sign agreement, cancel agreement, transfer (bank-to-futures, futures-to-banks), inquiry of balance and transfer details|
（4）Q：How should investors open futures funds account?
A: Individual and organization investors should apply for opening futures funds account at business department of futures companies or of securities companies having IB license with relevant materials. Please see websites of futures companies for detailed materials.
5) Q: Which materials should individual clients prepare for signing up bank-futures direct express service at counters of bank?
A: 1) ID card; 2) IB wealth management card; 3) futures funds account number
6) Q: Should investors open bank-futures direct express service at the outlet in which their accounts were opened?
A: Individual clients may open bank-futures direct express at any outlet of IB, and organization clients may open bank-futures direct express at any outlet belongs to the jurisdiction of the branch which they opened their bank settlement account. To open bank-futures direct express at electronic bank channels, there is no limitation on the outlet and region.
7) Q: What materials should organization clients prepare for signing up bank-futures direct express service at counters of bank?
A：1) copy of organization code certificate and business license; 2) copy of legal representative's ID card; 3) original and copy of handler's ID card; 4) power of attorney issued by legal representative; 5) bank settlement account number; 6) futures funds account number. Copies should be stamped with corporate seals.
8) Q: How should investors handle bank-futures direct express at IB Internet banking?
A: After opened IB Internet banking, individual and organization clients may conduct bank-futures direct express under investment and wealth management section of Internet banking. If Internet banking has not been activated, it can be opened as follows: 1) individual clients may register personal Internet banking at one of IB's outlets or at Internet banking directly. 2) Organization clients should conduct formalities to open corporate Internet banking at one of IB's outlets with relevant materials.
9) Q: How many futures companies can IB wealth management card support?
A: One IB wealth management card can be used to open bank-futures direct express with multiple futures companies, i.e. "one-to-many".
10) Q: What if a wealth management card which had activated bank-futures direct express is lost?
A: Once lost, cardholders should report the loss at counters of bank, and bank-futures direct express will be suspended during the period of loss report; the service will be restored once the loss report is resolved.
11) Q: What are the business hours of IB's bank-futures direct express?
A: Generally, the business hours are the trading period and the consecutive trading period of futures business day (Monday to Friday except for national holidays). The valid transfer hours should be subject to the registered entry and exit time of futures companies system in IB's system.
12) Q: What are the requirements to cancel bank-futures direct express?
A: To cancel bank-futures direct express, no funds transfer can be done at the day of cancellation. Investors should consult relevant futures companies whether they have other requirements.
13) Q: What are the charges of IB's bank-futures direct express?
A: No charge at the moment.
14) Q: If investors have already opened bank-futures direct express at other banks, can they still open bank-futures direct express at IB?
A: Yes. Generally, futures companies support bank-futures direct express with multiple banks, i.e. allowing one futures funds account link to multiple bank settlement accounts. Therefore, investors can still open bank-futures direct express at IB.
15) Q: Why is there an ID number error while signing agreement?
A: Probably because: investors provide different ID card numbers or different type of ID documents for opening futures funds account at futures companies and opening wealth management card at Ibis system indicates inconsistent ID numbers, investors should inquire futures companies about corresponding type and number of ID documents of futures funds account.
16) Q: Whether is there any limit on transfer amount (bank-securities, securities-bank)?
A: IB bank-futures direct express sets no limit on transfer amount. Futures companies' limit to transfer amount shall be subject to the business rules published by futures companies.
17) Q: In the operation of bank transfer to futures, what if bank successfully deducted amount yet the number of futures funds account did not increase accordingly?
A: It is unilateral accounting which can be waited to be corrected automatically by the system. Should automatic correction failed, bank and futures companies will fix it by accounting adjustment at the end of day. With exceptional situations, investors may report to staff of futures companies to find out the problem, and futures companies will coordinate with bank to fix the accounting.
18) Q: What is "futures-securities pass"?
A: To facilitate clients who use one same card for both securities third party depository and bank-futures direct pass, IB launched "futures-securities pass" on personal Internet banking and mobile banking, which allows clients to complete funds transfer between securities funds account and futures funds account in one time. Specifically, there is "securities transfer to futures" and "futures to securities". "Securities transfer to futures": funds will be transferred from securities funds account to bank settlement account first, and then from bank settlement account to futures funds account. "Securities transfer to futures": funds will be transferred from futures funds account to bank settlement account first, and then from bank settlement account to securities funds account.
19) Q: What if funds transfer of "futures-securities pass" fails?
A: Under exceptional circumstance, funds transfer of "futures-securities pass" may fail. Clients may inquire into the third party depository system and bank-futures direct express system to find out the details about transfer. Scenario 1: After transferred to bank settlement account, funds have not been transferred to securities funds account or futures funds account. In this case, clients will have to initiate bank-securities transfer or operate bank-futures direct express separately. Scenario 2: Unilateral account appeared during the transfer between securities and bank. In this case, automatic correction will be conducted by securities third-party depositor system at the end of day. Scenario 3: Unilateral accounting appeared during the transfer between futures and bank. In this case, automatic correction will be conducted by bank-futures direct express system at the end of day.
20) Q: For bank-futures direct express, is it possible to deduct and transfer funds in real time?
A: The system will adjust the balance of client's bank settlement account, and futures companies will adjust the balance of futures funds account in real time after bank settlement account changed.
21) Q: Can I use bank passbook to sign up bank-futures direct express?
A: NO. Individual clients can only sign up this service with debit card.TOP