General

How many ways to withdraw funds from my BOOM account?

You can withdraw funds to any bank account sunder your name by ways of:

Note: 
1. We do NOT accept cash and third party withdrawals.  
2. For proper handling of wire transfer to banks in Europe and Middle-East, clients will be asked to provide a bank statement showing the IBAN no. together with the name of bank account holder(s). 
3. You can withdrawal Chinese Yuan Renminbi (CNY or RMB) from BOOM to your RMB bank account(s) by cheque or transfer to your bank account(s) in Hong Kong. Kindly note we are not able to wire your CNY to any bank account outside Hong Kong. 
4. The HK-clearing crossed cheque will only be made payable to the registered account holder(s) and, if collect by mail, sent to the address on file.

Does BOOM charge me any fee for withdrawing funds?

No. We do not charge any fee on funds withdrawal.  However, other bank charges may be incurred and will be automatically deducted from your withdrawal sum.

Note: 
If you are withdrawing funds to remittance bank(s) other than our bankers, the bank(s) may impose other handling/clearing charges. Please refer to your banker for further details. 

When is the cut-off time for funds withdrawal?

The cut-off time is 12:00 PM (HK time) on a Hong Kong business day. 

Note: 
All funds withdrawal instructions received before cut-off will be processed on the same day, except it is under severe weather conditions (Details). 
Instructions received after cut-off will be handled on the next Hong Kong business day. 

Is there any limit or restriction of withdrawing funds from my BOOM account?

No. You can withdraw partial or all of funds held in your BOOM account.

Can I transfer funds to a third party?

No. You must transfer the funds to a bank account under your own name.

Payment to a third party is not accepted. If you hold a "jointly-owned bank account", and not all holders of this bank account are BOOM clients, this bank account will be treated as a "third-party" bank account, and we will not accept fund transfer to this bank account as well.

What is "good fund" for withdrawal?

"Good fund" for withdrawal refers to funds from:  

1. cheque deposit that is cleared by our bankers;
2. sell trades that are settled in accordance to the practice of the respective stock market.

Transfer to Designated Bank Accounts

How do I give a withdrawal request to my designated bank account(s)?

If you have pre-registered a designated bank account with BOOM, you can simply submit a fund withdrawal instruction online:

1. Log in to your BOOM account;
2. On the pull-down menu, select "Funds & Account" > "Funds Transfer" > "Withdrawal Instruction";
3. Select currency;
4. Select method of payment;
5. Enter amount of withdrawal;
6. Select a designated bank account that is pre-registered with BOOM;
7. Submit the request;
8. You will then see the message "Your Order has been received by BOOM". 

How do I add designated bank account(s) for funds withdrawal?

To register a designated bank account, simply fill in and sign the "Registration Of Bank Accounts" form, and return to us by mail.

Can I add a "jointly-owned bank account" as a designated bank account?

Yes, but ALL holders of the "jointly-owned bank account" must be BOOM clients. Otherwise, this bank account will be treated as a "third-party" bank account. 

We do not accept any fund deposit or withdrawal instruction for "third-party" bank accounts.

Transfer to Other Bank Accounts

Can I transfer funds to my bank account that is not previously registered with BOOM?

Yes, You can transfer funds to any bank account under your name. Simply fill in and sign the "Funds Withdrawal Instruction" Form and email the scanned copy to service@boomhq.com or fax to (852) 2255 8300.

Can I withdraw funds by cheque?

Yes, you can withdraw funds by cheque. Simply fill in and sign the "Funds Withdrawal Instruction" Form and email the scanned copy to service@boomhq.com or fax to (852) 2255 8300.

Processing Withdrawal

When is my withdrawal instruction effective?

If we receive your withdrawal instruction before the cut-off time and your fund is "good fund" for withdrawal, then your withdrawal instruction will be effective on the same day.

Can I change or cancel my withdrawal instruction? How?

Yes. You can change or cancel any pending withdrawal instruction.

To do so, you can simply login to your BOOM account, and go to "Pending Deposit / Withdrawal" under "Funds & Account" section and click the "Change" or "Cancel" link of respective instruction.