Basics

What is electronic direct debit authorization (eDDA)?

eDDA (electronic direct debit authorization) is a value-added service in FPS. Once the client set up eDDA successfully, the client can send fund deposit instruction on the BOOM App, and then our system will pass the instruction to client's bank to debit the bank account. After debiting the client's bank account, the fund will transfer to the client's BOOM account.

Please note that eDDA service is only applicable to clients holding bank accounts in Hong Kong.

What are the benefits of using eDDA to deposit funds?

eDDA is a 24/7 service¹, you can fund your BOOM account anytime and anywhere. The fund will be available to your BOOM account in 5 minutes², and you can use the fund to trade instantly. No further deposit notification is needed, just send the eDDA deposit instruction and wait for the confirmation.

Note:
1. Subject to the maintenance schedule of the bank, please refer to the latest announcement.
2. Depends on the processing time of the banks.

Any charge for depositing fund by eDDA?

Deposit fund by eDDA is free of charge.

What kind of currencies that eDDA supported?

eDDA supports HKD.

Can I use eDDA to withdraw funds?

No.

Setting Up

How do I set up eDDA?

1. Log in from our BOOM Mobile Trading App.
2. Tap the “Funds Mgmt” button on the bottom menu bar.
3. Tap “Funds Deposit”.
4. Tap “eDDA Direct Funds Deposit” [Unauthorized] 
5. then follow the instruction and input the required information to set up the eDDA.

How long does it take to set up eDDA?

eDDA normally requires about 1-3 business days to set up, depends on the processing time of the banks. Some banks may not support eDDA. Please contact your bank for details.

Deposit via eDDA

How do I deposit fund via eDDA?

1. Log in from our BOOM Mobile Trading App.
2. Tap the “Funds Mgmt” button on the bottom menu bar.
3. Tap “Funds Deposit”.
4. Tap "eDDA Direct Funds Deposit [Authorized]".
5. Select the authorized bank account to be debited.
6. Input the amount you want to deposit (min. HKD 200), and then tap "Deposit Now".
7. Choose the authentication method to confirm the deposit instruction.
8. You will see a tick…
   1. Orange Tick: Your fund deposit instruction is submitted successfully. Please wait for a while and the deposited funds will be available shortly. Meanwhile, you can tap “Deposit Records” to check the funds deposit status. Under normal circumstances, the funds will be available within 5 minutes.
   2. Green Tick: Your funds deposit instruction is successfully executed and is reflected on the balance of your BOOM account.

What is minimum and maximum amount of fund deposit by eDDA?

The minimum amount is HKD 200, maximum amount depends on the limit which the client set up with the bank.

I already received the transfer notification from my bank, why the balance of my BOOM account still not reflect the deposit?

The processing time is subject to the execution of banks. Generally, the whole deposit process should be completed within 5 minutes.