What is a Standing Instruction? How can I activate it in my account?
A Standing Instruction facilitates automatic transfers of clear fund balances available in your trading account to your bank account. Your credit balance is checked at the end of each trading day and transferred to your bank account on the next working day. Here, clear balances imply unutilised and settled funds; pending pay-outs from unsettled trades will not be considered.
For example, you transfer Rs. 10,000 on Monday to buy shares worth Rs. 9,000 (inclusive of brokerage). In addition, you also sell shares worth Rs 15,000.
As a result of an active standing instruction, the unutilized amount of Rs. 1,000 (Rs. 10,000 - Rs. 9,000) on Monday will be transferred back to your bank account on Tuesday.
The sales proceeds of Rs. 15,000 will be credited to your bank account on Tuesday (settlement for equity trades is T+1 days).
If you haven't signed the Standing Instruction agreement at the time of account opening, you can enable it through MyGeojit:
Step 1. Log in to MyGeojit and go to Fund Transfer
Step 2. Select Standing Instruction next to the bank account you want periodic fund transfers made to
Step 3. Select the trading segments for which you wish to activate the facility > Submit
The standing instruction facility will be blocked for clients who have authorised the maintenance of a running account.Still need help? Create Ticket
