How to move stocks from HSBC to IBKR

[makeITcount]

Does anybody have experience to move an entire stock portfolio from HSBC to IBKR? There is a Position Transfer program called ACATS that takes 4-8 working days to move stocks from one broker to another and I wonder how this works and how to calculate the fees associated with this transfer?
thank you

[GentleGeorge]

While we are at it, I'd love to hear if anyone has experience of doing the transfer in the opposite direction

[Morrison]

Not between these two entities but usually
you can download a form from your bank/ broker and instruct them which stocks to transfer. You can instruct either side .

For me it was free but I doubt in HK it’s free

[shri]

While we are at it, I'd love to hear if anyone has experience of doing the transfer in the opposite direction

Done both ways .. very efficient once you get all the codes correct. A good RM helps sort out the codes and forms (unfortunately a manual process). If I remember the cost is not too expensive. Have friends who have bought at IB and TXed to both hsbc and DBS (which has expensive commissions).

[makeITcount]

I searched all published fee info sheets from HSBC but no info whatsoever on transfer-out fees . My RM is on holiday . Can anyone give me a ball park figure on the cost and is it a flat fee or fee per security or percentage of moved assets? Thx

[Morrison]

I searched all published fee info sheets from HSBC but no info whatsoever on transfer-out fees . My RM is on holiday . Can anyone give me a ball park figure on the cost and is it a flat fee or fee per security or percentage of moved assets? Thx

Depending on where you move it the receiving side may even pay for the cost incurred ( if any ). Should ask them as well

[shri]

I searched all published fee info sheets from HSBC but no info whatsoever on transfer-out fees . My RM is on holiday . Can anyone give me a ball park figure on the cost and is it a flat fee or fee per security or percentage of moved assets? Thx

Us shares is 150usd per line outbound at HSBC



https://www.hsbc.com.hk/investments/...ks/us-trading/

[makeITcount]

hi Shri
as aways thanks for your replies and link. Though I believe the above price is not related to a "transfer-out" cost, but rather to the fee of physical scrip settlement (delivery). Otherwise it would be rather expensive to charge150USD per line of stocks which in a 40 stock portfolio amounts to 6000USD for the transfer. that sounds way too much. I guess I need to wait until the Relationship Manager is back from holiday to get a definitive answer but its notable that there is no such information . On IBKR and other brokers I can find that within seconds.

[shri]

@makeITcount - it is what we've paid to TX stocks out of HSBC about 2 years ago - still cheaper (depending on the value) compared to DBS etc. Inbound is free. There might be some incentives from banks like DBS, esp if you're setting up a new account - which will mitigate the costs.

I am not sure what the HK Stock TX fees are.

Their US fees are here:

https://www.hsbc.com.hk/content/dam/...et.pdf?noembed

Let us know if your RM comes back with something different. Also, I don't even know if they've got their TX forms online... had to get them from the RM when we were moving stocks around.

[makeITcount]

I got the info for those who are interested:
HK stocks is HKD5 per board lot (min 30HKD). I assume one has to divide their number of stocks by the lot size to get a price?
US stocks: USD150 per line of stock as shri correctly pointed out. I assume that refers to each name that gets moved regardless since position size?
There are other smaller fees for moving HK stocks s.a. Transfer deed stamp and scrip fee but I am not sure what they reger to and whether they are applicable if the holder remains the same. Hope this helps. I found HSBC's trading offering way too limited.