Transferring money into a trading account with us can be through one of the following ways
- Payment Gateway (PG) powered by 3rd party (ATOM, Razorpay, Billdesk etc) for instant transfer. When you use them, these companies charge for the service, we in turn pass this cost to the client. This is Rs 9 per transfer.
- NEFT/RTGS/IMPS/Cheque deposit. When you use this, there is no cost for us from the bank, and hence we don’t charge you. You can check more about this here.
ICICI Direct allows you to map only ICICI bank accounts. So they incur no cost in moving money from bank to the trading account.
Like Reliance securities we can’t we absorb the PG costs because our extremely low cost and razor thin margin business. Imagine this scenario, a client transfers money using PG and buys stocks. We don’t charge any brokerage for buying stocks, and if we don’t pass the PG charge to the client, we would lose Rs 9 for doing business with the client. Business can’t lose money by doing a transaction can it. 