Funds

I am not able to transfer funds from my registered bank account?

If you are transferring funds using “Fund Transfer” option from our website www.plclients.com, then please check whether your bank is registered under ATOM gateway.

If the bank is not registered under ATOM gateway, you may use NEFT/RTGS mode to transfer funds to our bank account.

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When can I withdraw my funds if I sell my shares or close the position?

We have 2 modes for remittance of funds: “Auto Remit” and “Demand Remit”

You may select any of the remit mode at the time of opening of account:

In Auto remit mode, funds will be transferred to your designated  bank account on the day of pay out i.e. T+2 day by EOD provided your ledger account is in credit balance.

In Demand remit mode, funds will be transferred to your bank account on request from you for the remittance of funds. You may send your request for remittance of funds, avaialable in your trading account,  from our site, www.plclients.com , (Banking > Instructions > Client Remittance Request) or inform our local representative. Funds will be transferred within 24 hours from the  date of receipt of your request.

Alternatively, you may call us at 022-66322366 or mail us at customerconnect@plindia.com.

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Can I give DD towards my debit balance?

No, we do not accept payment through DD for amount more than Rs.50000/

Payment up to Rs.50000/ can be accepted by DD along with the letter from the issuing bank.

 

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Can I give cheque towards my debit balance?

Yes, you can make payment by issuing chq from your registered bank acocunt.

You may deposit the chq in PL bank accounts and give the details of chq deposited to our local representative who in turn will make detailed entry in the back office system.

On receipt of credit in our bank account, credit will be passed on to your trading ledger.

In case of non receipt of any information for deposit of chq, credit will not be passed on to your ledger account in absence of chq details.

 

 

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Can I transfer funds thru my debit and credit card?

No, you can not transfer funds using debit or credit card.

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Can I transfer funds from the bank a/c which is not linked to my trading a/c?

No, you need to transfer funds from the bank account which is registered with us at the time of opening of your account. You may add your multiple bank accounts with us at the time of account opening.

In case, you wish to add bank account at a later date (after opening of account), you need send duly filled and signed Modification form along with bank account proof.

 

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Do I have to pay charges if funds are not transferred in time?

In case of non transfer of funds on or before T+2 i.e. payin day, delayed pay in charges will be applied  @1.5% p.a. or such rate as may be applicable and intimated from time to time.

In case of non receipt of payment till T+5 day, further exposure will be stopped and shares, withheld by us, will be sold and loss if any will have to be borne by the client.

 

 

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How can I transfer funds towards shares purchased by me / to clear debit balance?

You need to transfer funds on or before T+2 (i.e. Payin day).

Payment may be transferred to PL bank account using any of the following 3 modes:

  1. “Fund Transfer” option in our back office software (plclients.com) where in you transfer funds from your registered bank account to our a/c through our online payments partner, ATOM Technologies Ltd.  – This is the most recommended way to transfer funds as it gives instantaneous and seamless enhancement of trading limit / exposure.  You should use this option if you want to trade immediately upon transfer of funds.
  2. Transfer of funds thru internet to our HDFC Bank account – currently, only HDFC bank gives the details of bank account of the transferee in the bank statement. Hence it is easy to pass on the credit to client’s ledger account immediately on the receipt of the credit in our HDFC bank account.  Use this option to avoid calling and doing Payment detail  entry in PLClients system.
  3. Funds transferred through NEFT/RTGS/IMPS to other banks – Funds transferred through this option may delay the credit in ledger a/c till payment detail entry is recorded in the system. To record the entry, you need to do manual coordination with our local representative.  Please avoid using this option.

 

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