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User Guides Forms e-Payment
 
1. What is e-Payment?

e-Payment is a service offered by UOB Kay Hian Securities (M) Sdn Bhd (“UOBKH”) to its trading Clients which allows UOBKH to credit payment electronically to its client’s designated bank account. e-Payment include all sale proceeds, contra gains, credit withdrawal and any sum standing to credit in the client’s account. This is an optional service provided to UOBKH’s Client. Therefore we strongly encourage all of our valued Clients to sign up for this e-Payment service.

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2. How will it benefit me/us if I/we choose to receive fund via e-Payment service?

By signing up for e-Payment service, you would enjoy:

  • Faster - Clearing period of only 1 banking day compared to previously 3 banking days
  • Convenience - Not having to physically go to the bank to bank-in your cheque
  • Traceable – Receipts are instantly reflected in your bank statement
  • Safe – Payments made are cross checked with the Customer’s name, bank account number and Identification number.

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3. Are all UOBKH’s Clients able to enjoy the e-Payment service?

No. This service is only made available to individual and corporate trading Clients with sale proceeds denominated in MYR currency only. This service is not available to Margin Clients, Collaterised Clients, Institutional Clients and to contracts that is settled in foreign currency.

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4. Will UOBKH impose any charges or fees if I/we want to use e-Payment service?

No. This is an extra service which is offered to UOBKH’s Clients without any fees/charges.

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5. Is there any restriction on the types of bank account that can be assigned for e-Payment?

You can assign any of your existing active saving or current account held under your name or in the case of a joint account that has your name as one of the accountholders. While joint bank account is allowed, it is NOT encouraged and the trading client must be the primary holder of the joint bank account. It is your responsibility to ensure that you are the primary bank account holder to avoid payment failure.

The saving or current account must be maintained with one of the financial institution that is located in Malaysia and offers MEPS Inter-Bank GIRO (IBG) service. Part of the participating financial institutions that offers IBG services are Maybank, CIMB Bank, Hong Leong Bank, UOB Bank, HSBC Bank, Public Bank etc. For a complete list of financial institutions that offers IBG service, please refer to the following website.

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6. How will my/our bank account information be used and will it remain confidential?

Your bank account details and other related information will be used solely for the purpose of enabling payments to be credited directly into your bank account. It is protected under the Banking and Financial Institutions Act (BAFIA) 1989 that strictly prohibits the disclosure of such information to any person unless customer or his personal representative has given written permission. It should be noted that by signing the relevant form to provide your bank account information, you will be authorising the disclosure of your bank account information to parties’ necessary to effect a payment to you e.g. financial institutions.

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7. Can I/we register more than one bank account to receive funds via e-Payment?

No. You can register only one (1) bank account for each trading account with UOBKH.

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8. What do I/we have to do to sign up for this e-Payment service?

You are required to complete the Customer Maintenance Update Form you can get a copy of the Form from our Customer Service or your Dealer’s Representative and submit back to UOBKH with the necessary supporting documents.

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9. What are the supporting documents that I/we need to provide?

You have to provide a copy of the following supporting documents:

  • Identification documents e.g. NRIC, Passport, Authority Card or other acceptable identification documents (for individual trading Clients); or
  • Certified Certificate of Incorporation / Certificate of Registration (for corporate trading Clients); and
  • Designated bank account statement / bank pass book / details of bank account obtained from bank’s website which has been certified by the bank / letter from your bank confirming your bank account details.
If you are using the same bank account that you sign up to receive e-Dividend, the supporting documents are waived.

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10. How long will it take for UOBKH to activate the e-Payment service?

UOBKH will activate the e-Payment service within three (3) business days upon receive of the completed prescribed form with all the supporting documents. For the avoidance of doubt, business day shall mean a day where UOBKH is open for business.

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11. When can I/we expect UOBKH to credit the funds to me/us?

Payment will be made electronically into your designated bank account by UOBKH on T+3 if there are no outstanding losses or purchases. Generally, funds will be made available in your bank account within the same day of payment. However the actual timing may vary depending on the processes adopted by your designated bank.

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12. How will I/we be notified once the e-Payment has been made?

Your bank will send an e-mail and/or sms informing you of the payment received from UOBKH.

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13. Are there any special terms and conditions for the e-Payment service that I/we should be aware of?

Yes. There are 2 conditions that you should be aware of:

  • If there is any outstanding losses due and undue on the crediting day (T+3), UOBKH has the right to automatically set off the losses on the crediting day and the excess payment will be auto- credited into your designated bank account the next day.
  • If there is any outstanding purchase(s) on the crediting day (T+3), you have an option to use the sales proceed to settle any outstanding purchase(s) by submitting the request to Finance Department through your Dealer’s Representative on T+2 to exclude the sales proceed from e-payment. The balance after purchase settlement shall be auto credited into your designated bank account the next day. Notwithstanding the above option, you may opt to withdraw your sales proceed by way of e-Payment without setting off the Purchase on T+3.

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14. Are there any possibilities that the e-Payment transaction may fail?

While it is unlikely to happen, e-Payment transaction may fail under the following circumstances, (not exhaustive):

  • Unmatched details of the Client’s bank account (e.g. wrong bank account number given by the Client)
  • Unmatched details of Client’s NRIC / Passport no./ Company Registration No. maintained with UOBKH and Client’s designated bank account
  • Unaccepted status of the Client’s bank account (e.g. close, inactive or dormant bank account)
  • Any other inadmissible condition or restriction imposed by the authority
  • Unexpected system breakdown / technical problems

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15. What will happen to the funds that cannot be credited electronically into my/our bank account?

If funds cannot be credited electronically into your bank account for reasons which may include but not limited to any of the abovementioned circumstances, UOBKH shall upon confirmation from its bank on the failed e-Payment transaction, contact you to validate your bank account details and/or rectify the mistake and thereafter credit back electronically your designated bank account the next day. Notwithstanding the above, UOBKH may at their discretion remit the payment to you via cheque in lieu of e-Payment.

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16. Can I/we change my/our designated bank account after activation of e-Payment service?

Yes. You are allowed to change your designated bank account by completing the Customer Maintenance Update Form, with details of the new designated bank account and submit back to UOBKH together with a verified photocopy of the new designated bank account’s latest statement or passbook. No cost would be charged for this purpose.

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17. After the activation of e- Payment service, can I/we still request for cheque issuance on ad hoc basis?

Yes. You may request for payment via cheque on ad hoc basis by informing our Finance Department through your Dealer’s Representative on T+2 by 4.00 pm.

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18. Can I/we revoke e-Payment service?

Yes. You can revoke the e-Payment service at any time by completing the Customer Maintenance Update Form and submit to UOBKH.

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19. Can UOBKH make any revisions to the e-Payment service or terms & conditions?

Yes. UOBKH has the right to revise, amend, vary and/or modify the e-Payment service and its terms and conditions at any time, without assigning any reasons and without any prior notice.

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20. Where can I/we find more information about e-Share Payment?

For more information about e-Share Payment, you can refer to Bursa Malaysia.

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