A “payment in progress” status means that the amount deducted from your bank account is in the process of being revalidated by the bank. The deducted amount from your bank account will be reprocessed by the bank on the next working day. After that, the funds will either be credited to your Samco Trading account or returned to your bank account within 24 to 48 working hours.

What is the meaning of ‘Payment Failed’?

If the funds were debited from your bank account but not credited to your Samco trading account, the bank will automatically attempt to reprocess the transaction within the next 24 working hours.

The post Understanding Payment Status Issues first appeared on Support | Samco.

Requesting a payout on the SAMCO App:

1. Login to your Samco Application.
2. Tap on your wallet icon given in the top right corner.
3. Click on “Withdraw” and enter the amount to place your payout request.

What is Quarterly Payout? 

As per SEBI Circular (MIRSD/SE/Cir 19/2009), stock brokers must periodically transfer any excess funds or securities from trading accounts back to clients’ bank accounts on a monthly or quarterly basis. Your trading account has been settled, and any excess funds have been successfully transferred to your registered bank account.

The post How to Request a Payout on the Samco App & Understanding Quarterly Payouts first appeared on Support | Samco.

Fund Credits are generally processed within working 24 hours.

Please Note: Payout request will be only processed on working days.

Why hasn’t my payout been credited to my account even after 24 hours?

Your payout may not have been processed for one of the following reasons:

1. Your account does not have any clearing funds available. This may be the result of a trade order you placed, wherein the funds may have been used. Please refer to your trade history.
2. The payout was reversed due to an incorrect IFSC code or MICR.
3. A payout request cannot be made on the same day as the Payin.

Why am I unable to place a payout request for my available funds?

You are unable  to place a payout request for one of the following possible reasons:

1. A payout request cannot be made on the same day as the Payin. Try to place a payout request on the next trading day.
2. Due to Inactive MCX Segment or any inactive segment . To raise a manual payout request – (Raise a ticket – API)
3. Due to the blocked amount for CDSL charges. To avoid debit, Keep your account fairly funded.

I have received Funds from Samco without placing a payout request.

There is a high possibility of quarterly/monthly settlement of your funds as per SEBI Rule.

To know more about quarterly settlement refer to our knowledge center.

The post Samco Withdrawal FAQs: Processing Time, Delays, and Unexpected Credits first appeared on Support | Samco.

If your funds are not reflected in your Samco account, it could be due to one of the following reasons:

• Transaction Failed: In case of transaction failure the payment made from your bank will not reflect in the Samco Trading platform.
• Unlinked Bank Account: The UPI ID is linked to a bank account that is not registered with Samco.

For funds to reflect correctly in your ledger, we recommend linking your bank account with Samco. Alternatively, if you’d prefer not to link this account, simply provide the corresponding cheque image of the unlinked account for verification. Once verified, we’ll initiate the necessary steps to process your refund.

How Long Does It Take for Funds to Reflect in My Samco Account?

UPI/Payment Gateway (Successful Transaction): Instant
UPI/Payment Gateway (In progress Transaction): 24 to 48 working hours
UPI/Payment Gateway (Failed Transaction): 4 to 5 working days

The post UPI Payment Not Reflecting and Payin TAT first appeared on Support | Samco.

If your share transfer is to “CSDL to CDSL” Demat account:

You can use CDSL easiest to transfer shares online to a different CDSL demat account.

Step 1- Register to CDSL EASI

What is CDSL Easi and how to register for it?

CDSL Easi is a portal by Central Depository Services (CDSL) where demat holdings can be viewed, tracked and downloaded.

To register for CDSL Easi, follow these steps:

1. Visit https://web.cdslindia.com/myeasitoken/Registration/EasiRegistration
2. Under BO ID, enter the 16-digit demat ID.
3. Under Password, enter PAN along with the date and month of birth and click on Continue.  For example, if the PAN number is ALWPG5809L and the DOB is 25-03-1993, enter ALWPG5809L2503.

4.  Enter the OTP sent to the registered email ID or mobile number and click on Continue.

5. Enter a username, password, and security question and click on Continue.

6. If multiple demat accounts are held by the same account holder, the demat ID of the accounts can be entered and grouped together. By grouping the demat IDs, multiple demat accounts can be accessed using a single user ID. Click on Continue, and the registration will be successful.

Step 2- Register/ Upgrade to Easiest

How to upgrade from MyEasi to Easiest?

To upgrade from Myeasi to Easiest, follow these steps:

1. Log in to Myeasi by visiting  https://web.cdslindia.com/myeasi/Home/Login
2. Click on Miscellaneous and then on Upgrade BO ID to Easiest.

3. Select Trusted account (PIN) as the Account Type, agree to the terms and conditions and click on Submit.

4. Enter the trusted BO ID of the demat account to which the securities are being transferred and click on Submit and verify OTP

5. Post successful registration, download authentication form from cdsl website. Submit duly signed and filled authentication form via raising a ticket through samco website.

Step 3- Transfer Shares

How can I transfer shares from my Samco account using CDSL Easiest?

Once you have registered for easiest, you can follow the following steps to transfer shares:

1. Log in to CDSL Easiest and select ‘Setup’ on the Transaction section.

2. On this page, you need to select ‘Bulk Setup’

3. You need to select ‘Transaction’ and enter the execution date and enter the Beneficiary owner ID(BOID), you need to transfer the shares. 

4. You need to select the ISIN. When you click on Account ISINs, you can see a list of all the ISINs in your holdings. Select the ISIN and enter the quantity and select the reason for trade from a list given.

5. You can see the ISIN details here. Now, you need to click on ‘Submit’ to set up.

6. On submission, you will get this message. Next, you need to verify your request.

7. Click on verify

8. You should click on ‘Commit’

9. Enter your CDSL easiest PIN. This is not your 6-digit numeric CDSL TPIN . It is an 8-digit alphanumeric PIN that you would have received on your registered email id when you registered on CDSL easiest.

With this, your share transfer request is submitted.

This is now sent to your DP for confirmation. On confirmation, the request is approved and the transfer will be done.

Post Successful authentication, the share will be transferred to your trusted Demat account within working 24 hours.

The post Online Share Transfer process through CDSL first appeared on Support | Samco.