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Deposit Procedure
Fund Deposits must originate from your bank account in your name.
*Please note that all bank fees incurred in the remittance of funds to OFIS shall be borne by the customer. Due to bank remittance fees charged by the banks, the quantum of funds received by OFIS for deposit into your account may be lower.
Requirements for Same-Day Processing of Deposits to Clients’ Accounts
| Currencies (CCY) | Cut-off Time (GMT-0800) | Processing Requirements |
|---|---|---|
|
JPY (Japanese Yen) |
10:00 | Funds received before the cut-off time |
|
AUD (Australian Dollar) |
10:00 | Funds received before the cut-off time |
|
NZD (New Zealand Dollar) |
10:00 | Funds received before the cut-off time |
|
CNH (Chinese Renminbi Offshore) |
15:00 | Funds received before the cut-off time |
|
HKD (Hong Kong Dollar) |
15:00 | Funds received before the cut-off time |
|
USD (US Dollar) |
17:00 | Funds received before the cut-off time |
|
EUR (Euro) |
17:00 | Funds received before the cut-off time |
|
GBP (Sterling Pound) |
17:00 | Funds received before the cut-off time |
|
AED (UAE Dirham) |
17:00 | Funds received before the cut-off time |
|
CAD (Canadian Dollar) |
17:00 | Funds received before the cut-off time |
|
CHF (Swiss Franc) |
17:00 | Funds received before the cut-off time |
|
SGD (Singapore Dollar) |
17:00 | Funds received before the cut-off time |
Important Notes:
- Same-day credit: Funds received and available to OFIS before the applicable cut-off time will be credited to the client’s account on the same business day.
- After cut-off time: Funds received after the applicable cut-off time will be credited to the client’s account on the next business day.
- Payment initiation time: The cut-off time is determined by the time the funds are actually received and available to OFIS, and not by the time the client initiates the payment.
- Banking delays: Correspondent bank, clearing and settlement processing times may affect when funds are received by OFIS.
- AED: AED deposits require prior arrangement. Please contact OFIS Client Services Team for further assistance.
- Business days: Business days are Monday to Friday, excluding Singapore public holidays and applicable currency holidays.
Daily Withdrawal Cut-Off Time, Estimated Value Date, and Applicable Charges
|
Currencies (CCY) |
Daily Cut-off Time (GMT-0800) |
Estimated Value Date (Withdrawal Amount ≤ USD 5 Million or Equivalent) |
Estimated Value Date (Withdrawal Amount > USD 5 Million or Equivalent) |
Withdrawal Fee |
|---|---|---|---|---|
|
AUD (Australian Dollar) |
15:00 | Next Business Day | 2 Business Day | AUD 65 |
|
NZD (New Zealand Dollar) |
15:00 | Next Business Day | 2 Business Day | NZD 70 |
|
JPY (Japanese Yen) |
15:00 | Next Business Day | 2 Business Day | JPY 6,000 |
|
AED (UAE Dirham) |
15:00 | Next Business Day | 2 Business Day | AED 200 |
|
CNH (Chinese Renminbi Offshore) |
15:00 | Same Business Day | Next Business Day | CNY 285 |
|
HKD (Hong Kong Dollar) |
15:00 | Same Business Day | Next Business Day | HKD 330 |
|
USD (US Dollar) |
16:00 | Same Business Day | Next Business Day | USD 55 |
|
SGD (Singapore Dollar) |
16:00 | Same Business Day | Next Business Day | SGD 10 |
|
GBP (Sterling Pound) |
16:00 | Same Business Day | Next Business Day | GBP 38 |
|
EUR (Euro) |
16:00 | Same Business Day | Next Business Day | EUR 40 |
|
CAD (Canadian Dollar) |
16:00 | Same Business Day | Next Business Day | CAD 55 |
|
CHF (Swiss Franc) |
16:00 | Same Business Day | Next Business Day | CHF 40 |
Important Notes:
- Cut-off time: The applicable cut-off time is based on the time a complete and duly authorised withdrawal request is received by OFIS. Requests received after the applicable cut-off time will be processed on the next business day.
- Estimated value date: The value dates shown above are estimates only and are subject to applicable banking, correspondent bank, clearing and settlement arrangements. The actual date on which funds are credited to the beneficiary’s account may vary.
- Business days: Business days are Monday to Friday, excluding Singapore public holidays and applicable currency holidays.
- Withdrawal amount: The USD 5 million threshold is determined based on the amount of each individual withdrawal request, converted into USD equivalent where applicable.
- Large withdrawals: Withdrawals exceeding USD 5 million or the equivalent may require additional processing time and/or prior arrangements with OFIS.
- Withdrawal charges: The applicable fee is charged per withdrawal request.
Additional Notes:
- All requests for withdrawals are subject to the Terms and Conditions of the OFIS Client Agreement.
- Fees indicated above do not include additional bank-imposed charges, including but not limited to customisation, integration, handling, or other incidental charges. Any such charges will be passed on to the Client accordingly.
- Any cancellation of stop payment is not guaranteed unless confirmation from OFIS has been provided. OFIS shall process such instructions to the best of its ability.
- OFIS reserves the right to review and revise the above-mentioned fee from time to time.
- OFIS does not support withdrawals paid out via cheque, whether made in favour of the client or any other party.
- Any requests to on-forward customer funds to dedicated investor accounts maintained for the purpose of trading into China and/or Brazil Exchanges will be considered as withdrawal requests, and the withdrawal processing requirements will apply accordingly.
Withdrawal Procedure
To submit a withdrawal request or gain access to your Client Portal, please contact OFIS Client Services team.
Bank Standard Settlement Instruction (SSI)
Refer to the Bank Standard Settlement Instruction (SSI) for the corresponding bank details.
