New Client Cash Withdrawal Arrangement and New Requirement on Pre-Registration of of Settlement Bank
9 Mar 2022
Re:New Client Cash Withdrawal Arrangement and New Requirement on Pre-Registration of Local Settlement Bank Account (effective from 21st Mar 2022)

Thank you very much for your continuous support to Core Pacific-Yamaichi (CPY)!

In order to comply with the "Guideline on Anti-Money Laundering and Counter Financing of Terrorism" of the Securities and Futures Commission, the our Company will not accept any cash withdrawal request (including but not limited to transfers, remittances and cheque withdrawals, etc.) from our customer for payment to third parties. The customer's receiving bank must be held by the customer himself/herself/itself, and the holder of the receiving bank account must be in exactly the same name as the name of the customer’s account with our Company. Accordingly, our Company need to obtain a valid local bank account certificate/proof from the customer to ensure that the name of the settlement bank account is fully in line with that of the account opened in CPY.

In order to verify that the settlement bank account is opened by the customer himself/herself/itself, the customer need to provide a local bank proof. The bank proof must contain: the English name of the bank account, the bank account number and the bank name or trademark.

Therefore, starting from March 21, 2022, customers need to provide valid local bank proof when withdrawing funds and registering settlement bank account(s).

  1. Registering designated settlement bank account:

    - Customers can contact your Account Executive and provide a valid bank proof together with the “Client Bank Account Registration Form” to register a new local settlement bank account for future cash withdrawals.

    - Customers can submit the registration bank instruction online through "Account Management -> e-Withdrawal -> Register New Designated Bank Account" on the online trading platform. The application for registration of the local settlement bank account is subject to internal approval and will not take immediate effect. If the registration is successful, the designated bank account will be displayed in the bank account option of e-Withdrawal in about one working day.

    - Please note that if clients have not provided a valid bank proof of previously registered local bank account, the registration of such bank account will be regarded as invalid. Customers should provide the relevant bank proof as soon as possible to facilitate future cash withdrawals.

  2. Customer withdrawal:

    - Clients can contact your Account Executive to provide withdrawal instructions. If you have not registered a valid designated bank account, please provide a valid bank proof together with the “Client Bank Account Registration Form” for registration for smooth cash withdrawal.

    - Clients can provide withdrawal instructions through "Account Management -> e-Withdrawal” on the online trading platform. If you have not registered a valid local designated bank account, please go to "Account Management -> e-Withdrawal -> Register a New Designated Bank Account" to register a new one, with a valid bank proof provided for registration and smooth withdrawal.

Please refer to our website https://www.cpy.com.hk/us/deposit_withdrawal.htm for details of fund withdrawal arrangement.

Clients are strongly reminded to submit valid bank proof and “Client Bank Account Registration Form” to your Account Executive for local designated bank account registration as soon as possible on or before 18th March, 2022.

Please read and pay attention to the above information. For inquiries, please contact your Account Executive or our Customer Service Hotline at (852) 2166 3888.
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