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 market orders, 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 demands in the capital markets continue 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 it launched this service in 2019. To date, it supports 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. The company plans 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 its official WeChat account that it has partnered with Bank of Communications to upgrade its 24/7 deposit service. Aside from system maintenance periods, clients can transfer funds from banks into their securities accounts at any time.

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 currently support this. 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 amount exceeds this limit, clients must contact their dedicated advisor or the 95310 service line in advance for approval and adjustment during trading hours.

Notably, some brokerages that have not yet launched such services still allow investors to transfer funds 24/7 through specific financial products. For example, Huatai Securities offers the “Change” business, supporting quick withdrawals during trading hours, evenings, and weekends, with a maximum daily withdrawal limit of 200,000 yuan.

It is clear that brokerages actively exploring 24/7 bank-securities transfer services are mainly well-established, feature-rich firms, with varying cooperation models with banks. Ping An Bank, Bank of Communications, Industrial Bank, Postal Savings Bank, and others have partnerships with multiple brokerages; some banks only cooperate with specific brokerages.

It’s important to note that while 24/7 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 or end-of-day processing times, 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, but there are differences in fund withdrawal capabilities. 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 can be withdrawn on the next trading day (e.g., proceeds from stock sales and redemption of cash products are available the next 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 says that the interest rules for securities accounts and banks are consistent, with transfers during non-trading hours calculated based on a 24-hour calendar day starting at 00:00.

Brokerage experts: 24/7 bank-securities transfers do not require broker funds advances

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, eliminating risks of cross-naming or misappropriation. There is no fund pre-advancement involved. During identity verification and transaction password checks, the company enforces strict validation of account and transaction passwords to ensure client authenticity. Its 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 bank-securities transfer service has completed regulatory filing procedures and strictly complies with anti-money laundering requirements. The service only relaxes the timing of deposits and withdrawals outside trading hours; other 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 client rights.

Additionally, many brokerages remind investors that when using 24/7 bank-securities transfers, they should operate through official apps or websites, 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, clients should promptly report via 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 the homogeneous competition in the capital markets.

A brokerage insider told reporters that their operations center mainly handles 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 monthly margin financing and securities lending data from China Securities Finance shows that in February, new margin accounts reached 117,000, a 20% increase year-on-year but a 38.6% decrease from the previous month. Among new users, individual investors showed particularly high enthusiasm, with 2.5159 million new individual accounts in February, while new institutional accounts were only 7,100.