How to meet the deposit balance requirements and calculate the average daily deposit balance
Example 1: How to meet the deposit balance requirements to become an Eligible Selected CustomerAssuming customer’s deposit target is HKD500,000:
| Scenario | Deposit balance on 31 Jul 2021 |
Average daily deposit balance from 1 Aug to 30 Sep 2021 |
Deposit balance requirements |
| 1 | HKD500,000 | HKD600,000 | Fulfilled |
| 2 | HKD300,000 | HKD500,000 | Not fulfilled (Reason: deposit balance on 31 Jul 2021 was below target) |
| 3 | HKD500,000 | HKD300,000 | Not fulfilled (Reason: average daily deposit balance from 1 Aug to 30 Sep 2021 was below target) |
Example 2: How to calculate the average daily deposit balance
Assuming that customer has the following HKD deposit balances and transactions from 1 Aug to 30 Sep 2021:
| HKD deposit balance from 1 – 14 Aug 2021: | $500,000 | 14 days |
| Funds in on 15 Aug 2021: | +$300,000 | |
| HKD deposit balance from 15 Aug – 11 Sep 2021: | $800,000 | 28 days |
| Funds out on 12 Sep 2021: | -$500,000 | |
| HKD deposit balance from 12 – 30 Sep 2021: | $300,000 | 19 days |
| Average daily deposit balance from 1 Aug to 30 Sep 2021: | $575,410 |
Calculation of average daily deposit balance
