Investors should note that investment involves risks. The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities. Investors should not only base on this material alone to make any investment decision, but should read in detail the relevant risk disclosure statements.

Terms and Conditions for “Scratch Reward” Campaign

A. General Terms & Conditions

How to join the “Scratch Reward” Campaign and get a scratch card?

  1. This campaign is applicable to sole-named securities sub-account(s) under Integrated Accounts (“Eligible Securities Account(s)”) of Hang Seng Bank Limited (the "Bank").
  2. New Securities Customers and existing securities customers (as defined in point 26 and 32 respectively) who are eligible will join this campaign automatically, there is no need to enroll or register (“Eligible Customers”). Eligible Customers who successfully conducted buy or sell transactions of HK stocks, US stocks and/or Stock Connect Securities (each as defined in point 15) by using the Eligible Securities Account(s) via any securities trading channels of the Bank within the specified period will be entitled to one scratch card per order. The order with order status of "Fully Executed", "Partial Executed" or "Partial Cancelled" is entitled for one scratch card. There is no limit on the number of order(s) which can enjoy these offers and no minimum amount for each order.
  3. Eligible Customers need to log onto Hang Seng Invest Express mobile app (“Invest Express”) and go to the “Scratch Reward” from the menu to scratch the card(s) entitled.
  4. Once entitled with a scratch card, Eligible Customers must scratch the card within 30 calendar days. Otherwise, it will be void and no longer available. No replacement card will be issued.
  5. Each executed “Good Till Order” of HK stocks or US stocks is eligible for one scratch card, which will be entitled on the last execution date or the expiry date under “Good Till”.
    Illustrative example I (for reference only)
    Assuming a customer placed an order to purchase 600 shares at a price of HKD100 for Stock X through Invest Express on 2 January 2025 and set Good Till to 3 January 2025.
    Date Order execution Order status Whether entitled to a scratch card?
    2 January 2025 A buy trade was executed for 500 shares at a price of HKD100 Pending Dealing No scratch card
    3 January 2025 A buy trade was executed for the remaining 100 shares at a price of HKD95 Fully Executed Entitled to 1 scratch card

How to use the brokerage fee coupon?

  1. The brokerage fee coupon(s) (in the form of e-coupon(s), the “Coupon(s)”) obtained will be applicable at customer level (as e-coupon(s)) and automatically used to reduce the brokerage fee in the next executed buy or sell transactions of HK stocks, US stocks or Stock Connect Securities (each as defined in point 15) conducted in Eligible Securities Account(s) via Invest Express (the “Eligible Securities Transaction(s)”) during the Promotion Period. The offers are provided on a per customer basis and the brokerage fee reduction is applied upfront (instead of in the form of rebate).
  2. In respect of each Eligible Securities Transaction, the actual brokerage fee payable will be calculated by deducting the face value of the relevant Coupon from the original brokerage fee (which is the standard brokerage fee minus any brokerage fee deduction amount entitled for other securities offers during the Promotion Period (if any)). Brokerage fee excludes any custody fee, securities deposit charges, nominee services fee and any third party transaction charges such as transaction levy, stamp duty and trading fee, handling fee, securities management fee, transfer fee, capital gain tax, SEC fee and financial transaction tax etc.
  3. The Coupon face value is denominated in Hong Kong dollars. Where the settlement currency of an Eligible Securities Transaction is not denominated in Hong Kong dollars, the Bank will convert the coupon value to the settlement currency of such transaction based on the exchange rate determined by the Bank as prevailing at the relevant time for the purpose of the brokerage fee reduction.
  4. If a buy or sell order placed on HK stocks is partially or fully executed in more than one transactions on the same trade day, for the purpose of determining which Coupon (if available) to be used for that order as a whole, the Bank will count all the transactions for the same order together and calculate the total amount of original brokerage fee for that order after trading hour of the relevant stock market on that day.
  5. If a buy or sell order placed on HK stocks or US stocks is executed via trades across multiple days, trades on different days will be considered as different orders for the purpose of determining which Coupon (if available) to be used for an order.
  6. Each Eligible Securities Transaction can only use one Coupon. Each Coupon can be used once and not redeemable for cash or credit to bank account. For a Coupon used in a transaction, any unused amount of a Coupon will be forfeited and will not be refunded.
  7. The Coupon obtained from the same Eligible Securities Transaction cannot be used in the same transaction.
  8. For an Eligible Securities Transaction, where the Eligible Customers are holding more than one Coupons, the Bank will automatically select the Coupon which is closest to the amount of brokerage fee payable and has a lower amount.
    Illustrative example II (for reference only)
    Assuming a customer purchased 500 shares at a price of HKD100 for Stock X through Invest Express. So the total transaction amount is HKD50,000 and the standard brokerage fee (i.e. 0.25% of the transaction amount) is HKD125.
    Scenario More than one Coupons available for this customer Original brokerage fee Coupon automatically selected for use in this transaction Net brokerage fee payable
    (i.e. after deduction of the coupon face value)
    1 Coupon A – $125
    Coupon B – $100     		$125 Coupon A – $125 $0
    2 Coupon C – $200
    Coupon D – $150     		$125 Coupon D – $150# $0
    3 Coupon E – $150
    Coupon F – $100     		$125 Coupon F – $100 Customer to pay $25
    # The unused amount of $25 will be forfeited and will not be refunded.

Definitions

  1. Securities trading channels of the Bank include online securities trading channels (including Hang Seng Invest Express mobile app, Hang Seng Personal e-Banking and Hang Seng Personal mobile app)* , Automated Securities Trading Hotlines, Manned Securities Trading Hotlines and designated branches.
    (*(a) SSE and SZSE listed ETFs trading cannot be conducted via Hang Seng Personal e-Banking. (b) US stocks trading can only be conducted via the US Securities Trading Service available at Invest Express. To activate the US Securities Trading Service, all of the account holders of the relevant securities accounts (i) must submit the W-8BEN Form or Substitute Form W-8BEN (via Invest Express) to the Bank and the form is successfully processed as valid by the Bank subsequently; and (ii) have to provide the relevant acknowledgement and confirmation as required in Invest Express, including acceptance of the “Agreement for United States ("US") Market Information Display Services”.)
  2. “HK stocks” refer to Hong Kong dollar-denominated stocks listed on The Stock Exchange of Hong Kong Limited. “Stock Connect Securities” refer to A-shares/Exchange Traded Funds (ETFs) listed on the Shanghai Stock Exchange and/or Shenzhen Stock Exchange and eligible for Shanghai-Hong Kong Stock Connect Northbound Trading/Shenzhen-Hong Kong Stock Connect Northbound Trading. “US stocks” refer to Common Stocks (excluding warrants), Exchange Traded Funds (ETFs) and American Depository Receipts (ADRs) traded on New York Stock Exchange (NYSE), Nasdaq Global Market (NASDAQ), NYSE Amex Equities Market (AMEX) and NYSE ARCA.
  3. “Eligible Securities Transactions” exclude locally traded overseas stocks, any listed securities settled by non-Hong Kong dollar (except Stock Connect Securities and US stocks), i-Shares, Exchange Fund Notes, Hong Kong International Airport retail bonds, Government of HKSAR retail bonds / iBonds, shares subscriptions of Hang Seng Monthly Investment Plans for Stocks and Initial Public Offering (IPO).

Miscellaneous

  1. “Scratch Reward” is only available in Invest Express. Invest Express is not intended for distribution, download or use by any person in any jurisdiction, country or region where the distribution, download or use of this material is restricted and would not be permitted by law or regulation. If customer is outside of Hong Kong, we may not be authorised to offer or provide customer with the products and services (including "Scratch Reward") available through Invest Express in the country or region customer is located or resident in.
  2. The campaign offers are reduction of brokerage fee for Eligible Securities Transaction(s).
  3. Unless otherwise specified, the campaign offers mentioned in these Terms and Conditions cannot be used in conjunction with other securities service offers of the Bank.
  4. This campaign is not applicable to existing securities customers who hold only a joint-named securities account(s) under Integrated Accounts or who hold Share Margin Service account only, Commercial customers, Private Banking customers and any party who enjoys special privileges and offers.
  5. No person other than the relevant securities customers and the Bank (which includes its successors and assigns) will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provision of these Terms and Conditions.
  6. These Terms and Conditions are governed by and will be construed in accordance with the laws of the Hong Kong Special Administrative Region.
  7. These Terms and Conditions are subject to prevailing regulatory requirements (where applicable).
  8. The Bank reserves the right to suspend, amend or terminate this campaign/offers and to amend these Terms and Conditions at any time without prior notice. The decision of the Bank on all matters relating to this campaign/the offers (including but not limited to the eligibility of the customers to use the Coupon(s) based on the Bank’s record) shall be final and binding on all parties concerned. In case of any reason the Bank is unable to provide the Coupon(s), the Bank reserves the right to substitute the Coupon(s) with other gift(s)/offer(s) having approximately the same value as the brokerage fee at any time without prior notice. The nature of the substitute gift(s)/offer(s) may differ from that of the Coupon(s).
  9. In case of any discrepancy between the English and the Chinese versions of these Terms and Conditions, the English version shall prevail.

B. Specific Terms and Conditions

Applicable to existing securities customers (points 26 - 30)

  1. For existing securities customers (i.e. customers holding securities accounts other than the New Securities Customers as defined in point 32), the promotion period of this campaign runs from 2 January 2025 to 30 April 2025 (both dates inclusive, the "Promotion Period").
  2. Existing securities customers who successfully conducted buy or sell transactions of HK stocks, US stocks and/or Stock Connect Securities (each as defined in point 15) by using the Eligible Securities Accounts (as defined in point 1) via any securities trading channels of the Bank during the period from 2 January 2025 to 31 March 2025 will be entitled to one scratch card per order.
  3. Each scratch card has one chance to win a brokerage fee coupon (the “Coupon”), save that the first scratch card scratched will get a Coupon. The face values of the Coupons (if drawn) vary, ranging from HKD10 to HKD888 and will be allotted by our system with results shown on “Scratch Reward” instantly after scratching the cards. Eligible Customers who are not able to draw a Coupon will receive “Thanks for joining” notification.
  4. The Bank reserves the right to change the face values (including the range) of the Coupons which may be available for allotment at any time without prior notice.
  5. For existing securities customers who are eligible for SimplyStock, they can join this campaign: (a) for online trades in a calendar month during the Promotion Period, after the first HKD300,000 (or its equivalent in RMB or USD) transaction amount in a calendar month which is covered by the SimplyStock monthly fee is exceeded; and (b) for trades placed via non-online securities trading channels.

Applicable to New Securities Customers (points 31 - 36)

  1. For New Securities Customers (as defined in point 32), the promotion period of this campaign runs from 2 January 2025 to 31 December 2025 (both dates inclusive, the "Promotion Period").
  2. This campaign is applicable to customers who successfully open sole-named securities sub-account(s) under Integrated Accounts of the Bank during the period from 1 September 2024 to 31 March 2025 ("New Securities Accounts"), and the account holders of the New Securities Account must not hold any securities account (personal/ joint) with the Bank within a period of 6 months preceding the account opening date ("New Securities Customers"). If a New Securities Customer opens more than one New Securities Account during the period from 1 September 2024 to 31 March 2025, only New Securities Account with the earliest account opening date will be eligible for the offer below. The Bank reserves the right of final discretion on which New Securities Account can enjoy the offer. For New Securities Customers, the “Eligible Securities Accounts” means the New Securities Accounts.
  3. New Securities Customers who successfully conducted buy or sell transactions of HK stocks, US stocks and/or Stock Connect Securities (each as defined in point 15) by using the Eligible Securities Accounts via any securities trading channels of the Bank during the Entitlement Period will be entitled to one scratch card per order and the brokerage fee coupon(s) (the “Coupon(s)”) obtained will be automatically used in Eligible Securities Transactions during the Coupon Usage Period, as stipulated below:
    Account Opening Date Entitlement Period to obtain scratch card(s) Coupon Usage Period
    Period I Period II
    1 September 2024 to 30 September 2024 From 2 January 2025 to 31 March 2025 From 1 April 2025 to 31 May 2025 From 2 January 2025 to 30 June 2025
    1 October 2024 to 31 October 2024 From 1 February 2025 to 30 April 2025 From 1 May 2025 to 30 June 2025 From 1 February 2025 to 31 July 2025
    1 November 2024 to 30 November 2024 From 1 March 2025 to 31 May 2025 From 1 June 2025 to 31 July 2025 From 1 March 2025 to 31 August 2025
    1 December 2024 to 31 December 2024 From 1 April 2025 to 30 June 2025 From 1 July 2025 to 31 August 2025 From 1 April 2025 to 30 September 2025
    1 January 2025 to 31 January 2025 From 2 May 2025 to 31 July 2025 From 1 August 2025 to 30 September 2025 From 2 May 2025 to 31 October 2025
    1 February 2025 to 28 February 2025 From 1 June 2025 to 31 August 2025 From 1 September 2025 to 31 October 2025 From 1 June 2025 to 30 November 2025
    1 March 2025 to 31 March 2025 From 1 July 2025 to 30 September 2025 From 1 October 2025 to 30 November 2025 From 1 July 2025 to 31 December 2025
  4. During the Entitlement Period to obtain scratch card(s) – Period I, each scratch card scratched will get a Coupon. The face values of the Coupons vary, ranging from HKD10 to HKD888 and will be allotted by our system with results shown on “Scratch Reward” instantly after scratching the cards.
  5. During the Entitlement Period to obtain scratch card(s) – Period II, each scratch card has one chance to win a Coupon. The face values of the Coupons (if drawn) vary, ranging from HKD10 to HKD888 and will be allotted by our system with results shown on “Scratch Reward” instantly after scratching the cards. Eligible Customers who are not able to draw a Coupon will receive “Thanks for joining” notification.
  6. The Bank reserves the right to change the face values (including the range) of the Coupons which may be available for allotment at any time without prior notice.

Important Risk Warnings


Risk of investing in securities via Stock Connect Northbound Trading

Investors should note that investing in different Renminbi-denominated securities and products involves different risks (including but are not limited to currency risk, exchange rate risk, credit risk of issuer / counterparty, interest rate risk, liquidity risk (where appropriate)). The key risks of investing in securities via the Stock Connect Northbound Trading include:

  • Once the respective quota is used up, trading will be affected or will be suspended.
  • Stock Connect Northbound Trading will only operate on days when both markets are open for trading. Investors should take note of the days the Stock Connect Northbound Trading is open for business and decide according to their own risk tolerance whether or not to take on the risk of price fluctuations in securities during the time when Stock Connect Northbound Trading is not trading.
  • When a security is recalled from the scope of eligible securities for trading via Stock Connect Northbound Trading, that security can only be sold but NOT bought.
  • Investors will be exposed to currency risk if conversion of the local currency into RMB is required.

Risk of investing in foreign securities

Foreign securities carry additional risks not generally associated with securities in the domestic market. The value or income (if any) of foreign securities may be more volatile and could be adversely affected by changes in many factors. Client assets received or held by the licensed or registered person outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Cap.571) and the rules made thereunder. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.


Risk of investing in Exchange Traded Fund ("ETF")

Investors should note that ETF is different from a typical unit trust and many factors will affect its performance. In general, the market price per ETF unit may be significantly higher or lower than its net asset value per unit due to market demand and supply, liquidity, and scale of trading spread in the secondary market and will fluctuate during the trading day. ETF is different from stocks, investors should read the offering documents of the relevant ETF and understand the features and risks of ETF etc.


RMB Currency Risk

Renminbi ("RMB") is subject to exchange rate risk. Fluctuation in the exchange rate of RMB may result in losses in the event that the customer subsequently converts RMB into another currency (including Hong Kong Dollars). Exchange controls imposed by the relevant authorities may also adversely affect the applicable exchange rate. RMB is currently not freely convertible and conversion of RMB may be subject to certain policy, regulatory requirements and/or restrictions (which are subject to changes from time to time without notice). The actual conversion arrangement will depend on the policy, regulatory requirements and/or restrictions prevailing at the relevant time.


Foreign Exchange Risk

Foreign Exchange involves exchange rate risk. Fluctuations in the exchange rate of a foreign currency may result in gains or losses in the event that the customer converts HKD to foreign currency or vice versa.


(Jan 2025)