Weekend Need for Cash, But Stock Market is "Closed"? Multiple Brokerages Pilot 7×24 Hour Bank-Securities Transfers

Many investors have experienced this: when they need to access funds suddenly on weekends or holidays, they try to withdraw money from the stock market, but the system is closed until after 8:30 a.m. Monday; or they want to place night trades, but their account funds are insufficient, and bank transfers are blocked because the bank-securities transfer system is closed.

As a core supporting service for securities trading, the timeliness of bank-securities transfers directly affects investors’ fund utilization efficiency. According to reports, as investor demand in the capital markets continues to grow, convenient and efficient fund services have become a key focus of industry competition. Several brokerages are exploring 24/7 bank-securities transfer services, breaking traditional trading hours restrictions to enable funds to be transferred and used immediately. Some brokerages are even making this a key differentiator in their competitive strategy.

Multiple brokerages pilot 24/7 bank-securities transfer services

According to reports, 24/7 bank-securities transfer services have now reached a certain scale of coverage. Different brokerages have their own strategic focuses, but most are still in pilot phases within the industry.

Ping An Securities states that they launched this service in 2019. To date, they support eight major banks, including Ping An Bank, Postal Savings Bank, China Construction Bank, Industrial Bank, Ningbo Bank, China Merchants Bank, Minsheng Bank, and Bank of Communications. They plan to promote cooperation with more banks in the future.

Zhongtai Securities has already launched 24/7 transfers with five banks: Bank of Communications, China Merchants Bank, China Construction Bank, Industrial Bank, and Postal Savings Bank, supporting only general brokerage third-party custody services.

Hualong Securities supports 24/7 transfers with four banks: Bank of Communications, Industrial Bank, Ping An Bank, and Postal Savings Bank.

On February 26, Zheshang Securities announced via their official WeChat account that they had partnered with Bank of Communications to upgrade their 24/7 deposit service, allowing clients to transfer funds from banks into securities accounts at any time except during system maintenance.

Guojin Securities’ standard accounts can bind and sign with Ping An Bank for third-party custody, enabling 24/7 bank-securities transfers. Credit accounts do not support this feature. When transferring funds from securities to banks, some accounts have a daily or single-transaction limit of 20 million yuan (except for special agreements). If the transfer amount exceeds this limit, clients must contact their dedicated advisor or the 95310 service hotline in advance for approval and adjustment during trading hours.

It is worth noting that some brokerages, although not yet offering this service, allow investors to achieve 24/7 fund transfers through purchasing specific financial products. For example, Huatai Securities has launched the “Change Money Plus” service, supporting quick withdrawals during trading hours, evenings, and weekends, with a maximum daily withdrawal limit of 200,000 yuan.

Currently, brokerages actively exploring 24/7 bank-securities transfer services are mainly well-established firms with distinctive features, and their cooperation with banks varies. Ping An Bank, Bank of Communications, Industrial Bank, Postal Savings Bank, among others, have partnerships with multiple brokerages; some banks only cooperate with specific brokerages.

It is important to note that while 24/7 bank-securities transfers provide “around-the-clock” convenience, they are not unlimited. Some brokerages set specific periods (usually 16:00 to 17:00 or shorter) as system maintenance times during trading days, during which transfers are paused. System upgrades and maintenance may also temporarily suspend transfer services.

Compared to traditional bank-securities transfers, 24/7 services do not differ in limits, timeliness, fees, or availability of withdrawable funds. The main difference lies in the accessible funds. Zhongtai Securities states that outside trading hours, clients can withdraw funds up to the total of funds available for withdrawal on the previous trading day plus net inflows during non-trading hours. According to securities settlement rules, net funds from the current day’s trades (such as proceeds from stock sales and redemption of cash products) are also available for withdrawal on the next trading day.

Regarding interest calculation, Ping An Securities states that bank-securities transfers accrue interest based on calendar days: funds transferred in on the day start accruing interest, and funds transferred out on the same day stop accruing interest, regardless of trading days or non-trading days. Zhongtai Securities indicates that the interest calculation rules for securities accounts and banks are consistent, with transfers during non-trading hours calculated based on a 24:00 cutoff of natural days.

Brokerage insiders: 24/7 bank-securities transfers do not require brokerages to advance funds

Undoubtedly, fund security is the core concern for investors and the bottom line for brokerages offering 24/7 bank-securities transfer services. So, are there risks involved? Do brokerages need to advance funds?

A representative from Ping An Securities states that their 24/7 bank-securities transfer service strictly follows the third-party custody system, implementing same-name account transfer rules. It does not break existing regulatory frameworks. Client funds are always held by banks as third-party custodians, and only transfers between the client’s bank settlement account and securities account are permitted, effectively preventing risks like cross-naming or misappropriation. There is no fund pre-advancement involved. During identity verification and transaction password checks, the company strictly enforces password and transaction code validation to ensure client authenticity. Their risk control system monitors transfer amounts, frequency, timing, and regions, providing early warnings for suspicious activities such as unauthorized transfers or money laundering.

Zhongtai Securities also states that their 24/7 transfer service has completed regulatory filing procedures and strictly complies with anti-money laundering requirements. The service only relaxes the timing restrictions for deposits and withdrawals outside trading hours; other procedures like identity verification, transaction encryption, and abnormal transaction monitoring remain consistent with existing rules. Transfers from securities to bank accounts do not require broker settlement reserves to be pre-advanced. In cases of unilateral accounts, duplicate deductions, or transfer anomalies during non-trading hours, the company has emergency handling plans to address such issues and protect customer rights.

Additionally, many brokerages remind investors to operate only through official apps or websites when using 24/7 transfers, beware of fake platforms and phishing links, keep passwords and verification codes secure, and not disclose them to others. If abnormal fund activity is detected, investors should promptly contact official customer service channels to safeguard their funds.

Launching 24/7 bank-securities transfer services is one of the strategies brokerages use to attract and retain high-quality clients amid homogeneous market competition.

Some brokerage insiders told reporters that their operations teams mainly handle negotiations with banks for 24/7 transfer services. This service, driven by innovation in bank-securities integration, helps build a competitive edge and supports business expansion.

According to data disclosed by the Shanghai Stock Exchange on March 3, new A-share accounts opened in February totaled 2.523 million, down 11% year-on-year and 49% from January’s 4.9158 million. Meanwhile, the latest margin financing and securities lending data show that in February, new accounts reached 117,000, up 20% year-on-year but down 38.6% from the previous month. The surge in new accounts was especially prominent among individual investors, with 2.5159 million new individual investor accounts in February, while new institutional accounts were only 7,100.