When you transfer funds via IMPS/NEFT make sure to add ZERNSE for equity and ZERMCX for commodities as the beneficiaries. When you transfer your funds to our ZER labeled accounts, your funds will be credited to your trading account faster. But there are certain banks which don’t allow alphabetic characters in the beneficiary field, in that case, you have no choice but to transfer funds to our bank account with the following details.
You need to login to your internet banking portal to add a beneficiary. This is the process in SBI.
Step1: Login to your internet banking portal and select Payments/Transfers
Step 2: Select interbank transfers
Step 3: Select the mode of transfer i.e IMPS/NEFT
Step 4: Click on add new beneficiary
Step 5: Enter the beneficiary details.
Step 6: Once you have added a beneficiary you will have to confirm it. This process differs from banks, in case of SBI when you click on confirm beneficiary you will have to verify it with an OTP.
Once the payee is confirmed, you’ll be able to initiate fund transfers using NEFT/IMPS to the newly added payee. Transferring funds to these accounts will ensure you get faster credits to your trading account.