ZA Bank has launched of StockBack, a stock rebate programme that allows users to get a free lucky draw of big-name US stocks after each successful stock purchase transaction. ZA Bank says that it is committed to building an all-in-one digital wealth management platform with the launch of fund and US stock investment services.

ZA Bank StockBack promotion runs until year end

From now until 31 December 2024, ZA Bank users will automatically get a StockBack for each successful purchase of US stocks. By logging into the dedicated campaign page and opening the PowerDraw box within 24 hours, users will receive a designated US Stock Redemption Coupon.

The designated stocks for the coupons include the top 100 US-listed companies and ETFs in terms of market capitalisation. Users can instantly redeem the coupon for fractional shares in the form of market orders during US stock trading hours, or at the opening of the next trading day if the redemption is submitted outside of trading hours. There is no limit to the number of coupons that a user can receive. The redeemed shares can be sold at any time, where all commissions and transaction-related fees will be waived for the sale orders of the fractional stock portion.

Daily users trading US stocks rises by 80% in first week of promotion

Calvin Ng, Alternate Chief Executive of ZA Bank, said: “As the only digital bank in Hong Kong that offers savings, insurance and investment in one single app, we provide a comprehensive suite of wealth management solutions to help more users embark on their investment journeys at a lower cost. In the initial week since the launch of StockBack, the daily count of users trading in US stocks has increased by nearly 80%. The number of daily transaction orders has also recorded a substantial growth of about 120%.

“Our aspiration is to become a banking app with the most engaging investment experience through this innovative offering.”

The bank also announced the extension of its US stock commission offer. Users who trade US stocks via the ZA Bank App can enjoy a trading commission of only $0.012 per share (min $3.88 per order) by 31 July, regardless of the price of the stock purchased.

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Calvin added: “With StockBack, we strive to democratise US stock investments for more users. Investing in US stocks is no longer a remote possibility. Users can get popular US stocks for free simply by opening the PowerDraw boxes to reach a new milestone in wealth management.”