Smooth investment process wants!!!!!!!!

intelstk · 1 Smooth investment process wants!!!!!!!! Sat Jun 11, 2011 12:30 am

intelstk

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Still I dont have a current account for my share tradings. For IPO investment, i got cheques from my father. Cheques received I deposited in my savings account. Now I have decided to go for BOC for this purpose.

I want to make my investment process more smooth mainly because of limited time availability to go here and there.

Can some one suggest things to do to make my investment process more smooth apart from opening a current account??? (My broker is Asia Securities)

Fresher · 2 Re: Smooth investment process wants!!!!!!!! Sat Jun 11, 2011 8:27 am

Fresher

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intelstk wrote:Still I dont have a current account for my share tradings. For IPO investment, i got cheques from my father. Cheques received I deposited in my savings account. Now I have decided to go for BOC for this purpose.

I want to make my investment process more smooth mainly because of limited time availability to go here and there.

Can some one suggest things to do to make my investment process more smooth apart from opening a current account??? (My broker is Asia Securities)

You do not necessarily need a current account for this purpose. You can deposit cash to their bank accounts and fax/scan & mail the slip.
you can tell them to hold payment so that you don't get cheques for every sale (unless you need them)
for rights issues, IPOs, you can send a bank draft but you will be charged a fee and a lot of time.

So to make things convenient you need a C/A. I do not know about Asia but some other brokers have direct fund transfer methods which will be much more convenient.

fox · 3 Re: Smooth investment process wants!!!!!!!! Sat Jun 11, 2011 7:17 pm

fox

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some banks offer internet fund transfers where you can transfer funds at the comfort of your home to broker's account. why dont you search the web and find out.

mark · 4 Re: Smooth investment process wants!!!!!!!! Sat Jun 11, 2011 8:05 pm

mark

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intelstk wrote:Still I dont have a current account for my share tradings. For IPO investment, i got cheques from my father. Cheques received I deposited in my savings account. Now I have decided to go for BOC for this purpose.

I want to make my investment process more smooth mainly because of limited time availability to go here and there.

Can some one suggest things to do to make my investment process more smooth apart from opening a current account??? (My broker is Asia Securities)

*use bank drafts for IPO'S
*deposit cash of brokers bank account,indicating your NIC number as the narration.
*tell them to transfer share sold money via SLIPS transfer,to your savings account.so you dont need to waste time on cheques
*give your bank account details to broker to transfer dividends if any,so no need to wait for dividend cheques
*finally-you don't need a current account.
helpful?

swan03 · 5 Re: Smooth investment process wants!!!!!!!! Sat Jun 11, 2011 8:34 pm

swan03

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mark wrote:

intelstk wrote:Still I dont have a current account for my share tradings. For IPO investment, i got cheques from my father. Cheques received I deposited in my savings account. Now I have decided to go for BOC for this purpose.

I want to make my investment process more smooth mainly because of limited time availability to go here and there.

Can some one suggest things to do to make my investment process more smooth apart from opening a current account??? (My broker is Asia Securities)

*use bank drafts for IPO'S
*deposit cash of brokers bank account,indicating your NIC number as the narration.
*tell them to transfer share sold money via SLIPS transfer,to your savings account.so you dont need to waste time on cheques
*give your bank account details to broker to transfer dividends if any,so no need to wait for dividend cheques
*finally-you don't need a current account.
helpful?

Thanks Mark, I didnt know this. Sounds good to me Very Happy

. I will contact my broker on monday. Thanks. One rep from me.

intelstk · 6 Re: Smooth investment process wants!!!!!!!! Sat Jun 11, 2011 9:08 pm

intelstk

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thanks all my friends, I changed my idea on current account and will move for bank drafts, internet banking, slip transfer on Monday onwards. Hope that Asia Securities allow all these. Then my life becomes easy..