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Electronic Share Payment (ESP)
 
What is ESP?

ESP is a service which allows the Bank to electronically pay your share sale proceeds directly into your preferred bank account instead of making payment via issuance of cheques.

Why ESP?
  • Faster access to share sale proceed payments which are credited directly into your bank account
  • Convenience - eliminates the need to go to a bank
  • Misplaced, lost or expired cheques will no longer be an issue
When can I register for ESP and will I incur any charges for registration and payment?

Effective from 3 December 2013, you may register for ESP. To register, you must provide your bank account information to the Bank by filling up the relevant form. There will be no charges incurred by you for registration and for payment to be credited to your bank account.

How do I register for ESP?

To register, complete the relevant form which can be obtained from any Affin Hwang Capital branches or download the form HERE and submit to the bank's office where your trading account is maintained.

What supporting documents are required?

For Individual Client:

  • Copy of Identification document i.e NRIC, Passport, Authority Card or other acceptable identification
  • Copy of your bank statement/ bank saving book/ details of your bank account obtained from your bank's website that has been certified by your bank/ copy of a letter from your bank confirming your bank account details (disclose part containing your bank account particulars only)

     

For Corporate Client:

 

  • Certified true copy of Certificate of Incorporation / Certificate of Registration
  • Certified true copy of your bank account/ bank saving book/ details of your bank account obtained from your bank's website/ copy of a letter from bank confirming your bank account details (disclose part containing your bank account particulars only)

     

Is there any restriction on type of bank account to register for ESP?

You can register any of your existing active savings or current accounts held in your name. In the case of a joint account, has your name as one of the account holders. The bank account must be maintained with a major financial institution based in Malaysia that offers MEPS Inter-Bank GIRO (IBG) service.

When will my bank account be credited with my share sale proceeds entitlement?

Share sale proceeds will be paid by the bank on the payment date (T+3). Generally, it shall be credited into your bank account within same day of payment depending on your bank's processes.

How will my bank account information be used and will it remain confidential?

Your bank account and other related information will be used solely for the purpose of crediting share sale proceeds payment directly into your bank account. The information is protected under the new Personal Data Protection Act 20109 ("PDPA"). This Act comes into operation on 15 November 2013 that strictly prohibits the disclosure of such information to any person unless you expressly authorize the disclosure in writing.