How can I add/transfer funds to my trading account using a cheque?
To add money to your trading account via cheque, you will have to submit a cheque (CTS) in favour of 'Geojit Financial Services Ltd' from your registered bank account at one of our branches.
The branch will then deposit the cheque, and its clearing status (Clear/Bounce) will be marked in your trading account one working day from receipt of the transfer in our bank account.
Important points to keep in mind:
* Post-dated cheques are not allowed.
* Ensure to transfer funds from the bank account registered with your Geojit account. Transfers from other accounts will be rejected.
* We do not accept advance buying power requests based on cheque deposits.
* It normally takes one working day (from being presented at the bank) for a cheque to be cleared, provided it is submitted before the applicable clearing time. This can vary depending on local bank holidays, clearance delays, etc.
* If a cheque is presented at the bank before the specified clearing time, it will be cleared by the next working day. Otherwise, it will take an additional day to reflect in your trading account. For example, if a cheque is deposited at the bank by 12:00 p.m., Monday, it will be credited to your tradind account by the end of Tuesday.
* If the clearing bank and settlement bank are the same, cheques are normally cleared ont he same day. For example, you present an HDFC bank cheque for fund transfer. Since Geojit's clearing bank is also HDFC, this cheque may get cleared and credited to your trading account on the same day.