This is disappointing news for COL Financial subscribers/account holders. It appears that when you transfer funds to your COL Financial account via bank transfers, bank charges will now apply.
This is because transferring funds to COL Financial for your further stock transactions are treated like bills payment, thus the fee. And starting this year, COL Financial refused to subsidize them. See notice below:
COL Financial Bank Charges notice.
With the stiff competition in the stock brokerage business, I don’t think this is a good move by COL Financial. They better offer more value added services in order to stop account holders from moving elsewhere.