Online Settlement to Brokers and SLIPS to investors

ansar · 1 Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 10:23 am

ansar

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Some banks have arranged on line settlements to brokers which make both the broker and the investor convenient. on the other hand, we see that the recent IPO's are refunded via SLIPS.
Why can't SEC request the brokers to start this practice to secondary market as well?
That would definitely ease the paper work of the brokers as well as the banks. It will avoid delays in receiving payments to people in the out stations. Specially postal delays and collecting cheques from brokers,depositing cheques waiting in the queues, delays in realizing, etc. Let's enter the world of globalization!
Opinions please Very Happy

mark

mark

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its possible mate,tell you broker to transfer funds via SLPIS,give him your account number,bank code and branch code,they will transfer money...... currently i enjoying this service. Very Happy

swarnasana

swarnasana

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I too get all my dues transferred to my bank account. And my payments to Brokers are also done through Internet (Sampathnet) from my bank account.

Only thing SEC has to do is - facilitate payments for IPOs also through Internet

econ

econ

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some brokers give that SLIPS facility. but many still write checks.. checks are always problemetic.

RockStock

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swarnasana wrote:I too get all my dues transferred to my bank account. And my payments to Brokers are also done through Internet (Sampathnet) from my bank account.

Only thing SEC has to do is - facilitate payments for IPOs also through Internet

Hi,
Can You Pay to ASIA securities via the Sampath internet banking?

Thanks

samueldaniel7

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Which broker, im with Asia and still getting the cheques, but deposits they accept

amibroker

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mark wrote:its possible mate,tell you broker to transfer funds via SLPIS,give him your account number,bank code and branch code,they will transfer money...... currently i enjoying this service.

Mark - Who is the broker that supports SLIPS for payments ? I have my account with Asha, they still pay by cheques. Plus their accounts department is the worse I have seen. They think that we are a problem to them. The two ladies Accountant and Assistant Accountant they are like almighty gods, others have to call them Madam. Anyway Asha Phillip is poorly run broker firm, therefore we can not expect more than that.

smallville

smallville

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amibroker wrote:

mark wrote:its possible mate,tell you broker to transfer funds via SLPIS,give him your account number,bank code and branch code,they will transfer money...... currently i enjoying this service.

Mark - Who is the broker that supports SLIPS for payments ? I have my account with Asha, they still pay by cheques. Plus their accounts department is the worse I have seen. They think that we are a problem to them. The two ladies Accountant and Assistant Accountant they are like almighty gods, others have to call them Madam. Anyway Asha Phillip is poorly run broker firm, therefore we can not expect more than that.

I've even experienced the bitterness in dealing with Asha.. These ppl dont walk "customer is the king" attitude.. Well its a kinda personnal issue for the individuals, either they'll learn it the hard way or may not learn in their tenure at all Wink

However when I checked with them, it was possible for them to deposit the cheques/money in your account provided that you've given instructions in written.
So all you have to do is write them a letter advising them to deposit your cheqes/money in the account u mention.
Mention the Account number, bank, branch, branch code.

swarnasana

swarnasana

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Sampathnet payment facilities

4

13 000000002892 S C SECURITIES (PVT) LTD 55,D R WIJEWARDENA MW,COL 10

1
18 000000006346 J B SECURITIES (PVT) LTD 150, ST JOSEPH'S STREET, COL 14

24 000000008499 CEYLINCO STOCK BROKERS (PVT) LTD LEVEL 9,CEYLINCO HOUSE,69,

27 000000008939 ACUITY STOCKBROKERS (PVT) LTD ACUITY HOUSE, NO.53
28 000000008975 ASHA PHILLIP SECURITIES LIMITED LEVEL 4, MILLENNIUM HOUSE, 46/58
29 000000009342 CAPITAL TRUST SECURITIES (PVT)LTD 42, SIR MOHAMMED MACAN MAKAR MW

wallstreetguy

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What should you do, when you dont recive your payment cheque from the broker, after many weeks.?

mark

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amibroker wrote:

mark wrote:its possible mate,tell you broker to transfer funds via SLPIS,give him your account number,bank code and branch code,they will transfer money...... currently i enjoying this service.

Mark - Who is the broker that supports SLIPS for payments ? I have my account with Asha, they still pay by cheques. Plus their accounts department is the worse I have seen. They think that we are a problem to them. The two ladies Accountant and Assistant Accountant they are like almighty gods, others have to call them Madam. Anyway Asha Phillip is poorly run broker firm, therefore we can not expect more than that.

Its JKSB,not bad at all,very helpful guys Very Happy

,but im worrying about their recommendations about EXPO and SOFT...... Evil or Very Mad

intelstk

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mark wrote:

amibroker wrote:

mark wrote:its possible mate,tell you broker to transfer funds via SLPIS,give him your account number,bank code and branch code,they will transfer money...... currently i enjoying this service.

Mark - Who is the broker that supports SLIPS for payments ? I have my account with Asha, they still pay by cheques. Plus their accounts department is the worse I have seen. They think that we are a problem to them. The two ladies Accountant and Assistant Accountant they are like almighty gods, others have to call them Madam. Anyway Asha Phillip is poorly run broker firm, therefore we can not expect more than that.

Its JKSB,not bad at all,very helpful guys ,but im worrying about their recommendations about EXPO and SOFT......

Its great. I want to shift my broker to JKSB. How much portfolio wants to get online trading??? cheers

pcstock

pcstock

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i have seen commercial bank also having the ame facility. does anyone know the charges and procedure?

Prince

Prince

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please refer

http://forum.srilankaequity.com/t5614-convenience-of-online-settlement-to-stock-brokers-through-sampathnet#38053

Fresher

Fresher

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wallstreetguy wrote:What should you do, when you dont recive your payment cheque from the broker, after many weeks.?

call and verify whether they have posted. if it is misplaced in the post, request another one after cancelling the first

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Latest topics

Online Settlement to Brokers and SLIPS to investors

1 Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 10:23 am

ansar

2 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 11:23 am

mark

3 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 12:45 pm

swarnasana

4 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 1:06 pm

econ

5 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 1:09 pm

RockStock

6 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 1:18 pm

samueldaniel7

7 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 1:51 pm

amibroker

8 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 2:23 pm

smallville

9 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 7:38 pm

swarnasana

10 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 7:45 pm

wallstreetguy

11 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 7:53 pm

mark

12 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 8:37 pm

intelstk

13 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 8:46 pm

pcstock

14 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 8:55 pm

Prince

15 Re: Online Settlement to Brokers and SLIPS to investors Sat Jun 25, 2011 9:12 pm

Fresher

16 Re: Online Settlement to Brokers and SLIPS to investors

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