Clients concern and operation inconvenience due to Quarterly Settlement Process :
On a regular basis we get client complaints that suddenly funds / securities have been transferred back to their account and now they wanted funds / securities for trading. To avoid inconvenience to clients we check for accounts which are fulfilling the criterion of auto - settlement and thus settle the accounts without any hassle to the client. However in case of clients whose accounts are not auto-settled we have to transfer the funds and securities back to the client and thus settle the account. It is not possible to determine the exact day on which this process will be carried out because this process runs on an a rolling basis.
Thus, clients are inconvenienced when funds / securities are transferred to there account and at times they may miss out on a trading opportunity because of lack of funds / securities in their trading account . Also clients who transfer shares from 3rd party Demat accounts or who have their shares pledged with us for margin have to again go through the process of transferring shares back to SAS Online for the purpose of selling / pledging.
Now you as a client can give consent to SAS Online to settle the account by trading intra-day in a fixed income instrument like Liquid bees where there is no profit/loss and no STT is applicable. This way you can be saved from the hassle of transferring back funds / securities and paying any fund transfer / gateway / DP charges .
To give consent, please mail to email@example.com from your registered email ID with mentioning subject line as : 'Consent for Quarterly Settlement' and client code.
Feel free to contact us at 011-40409999 for any query or assistance.