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ECS Process
ECS mandate can be linked to the bank account mapped to your Sharekhan Trading account
ECS amount chosen by you on the ECS mandate represents the maximum order limit on any transaction day.
ECS amount will be processed to the extent of orders placed by you subject to the ECS limit.
ECS amount will be allocated to Sharekhan ECS ledger account to carry out the transactions ordered by you.
ECS Facility - Highlights
For internal training purpose only
Mr. X gives a ECS Mandate of Rs.10,000 for 10 years
Illustration 1:He does not have any existing SIP thru Sharekhan and he has not placed order for new SIP.
Utilized limit – NILBalance Limit Available - Rs.10,000\-
No order – No Withdrawal=======================================================================Illustration 2:
He links an existing SIP of Rs.2,000\- to the ECS and orders a new SIP of Rs.2000\-
Utilized limit – Rs.4,000\-Balance Limit Available - Rs.6,000\-
Rs.4,000\- will be transferred to carry out the orders
How does it Work
For internal training purpose only
Hassle free SIP investments – amount will be automatically transferred from bank account for execution of transactions
Decide your ECS mandate amount and use this limit for multiple SIPs/ transactions.
Map your existing SIPs to ECS mandate or add new SIPs in future.
One time registration facilities multiple SIPs – after giving ECS mandate, SIP order can be placed at date later as well
Key Benefits
For internal training purpose only
ECS has been introduced for Mutual Fund Segment -SIP payments only
No need to remember SIP dates any more.
On the basis of ECS mandate, Sharekhan will debit client’s bank account towards SIP orders placed by the client.
To begin with, ECS mandate would be available and utilized for Mutual Funds SIP only.
In future, it may be extended to Stock SIP and other investment products.
ECS is offered in 91 cities only. (as of 08/11/2012)
CIS will accept all the requests, however the same may be rejected by ECS agent.
Features
For internal training purpose only
List of ECS enabled CitiesAgra Chennai Hassan Madurai ShimlaAhmedabad Cochin Hubli Mandya ShimogaAllahabad Coimbatore Hyderabad Mangalgiri SiliguriAmritsar Cuttack Indore Mangalore SolapurAnand Davangeree Jabalpur Mumbai SuratAsansol Dehradun Jaipur Mysore TenaliAurangabad Delhi Jalandhar Nagpur TirunelveliBangalore Dhanbad Jammu Nasik TirupatiBaroda Durgapur Jamnagar Nellore Tirupur Belgaum Erode Jamshedpur Panjim TrichurBhavnagar Gadag Jodhpur Patna Trichy Bhilwara Gangtok Kakinada Pondicherry TrivendrumBhopal Gorakhpur Kanpur Pune TumkurBhubaneshwar Gulbarga Kolhapur Raichur UdaipurBijapur Guntur Kolkata Raipur UdupiBikaner Guwahati Kota Rajkot VaranasiBurdwan Gwalior Lucknow Ranchi VijayawadaCalicut Haldia Ludhiana Salem VizagChandigarh
For internal training purpose only
Clients can apply for ECS facility through any one of the three processes mentioned below:
ECS status can be viewed on the website by client / web-admin.
Once ECS request is approved by the bank, client can • Order an SIP • link existing SIP to the ECS mandate.
Process
For internal training purpose only
IndexSr. No Particulars Link
1. ECS Registration Request
a)b)c)
through Account Opening (for new Equity clients)via website (only client can apply)by submitting physical ECS request
Click hereClick hereClick here
2. Reports
a)b)
In CISOn Website
Click hereClick here
3. Order Placement
a)b)c)
New OrderLink Existing SIPDelink SIP
Click hereClick hereClick here
For internal training purpose only
1. Account Opening
If the client has opted for ECS, then check box “Enable ECS” should be clicked
Rest of the process would be taken care at HO.
Ensure to send duly signed ECS mandate & cheque leaf along with account opening form
Click here to go to Index
For internal training purpose only
Select Registration option under ECS menu
Log in on website & select MF section
2. Online Registration (by Client)Client can apply online through website.
For internal training purpose only
Bank Account mapped to MF will be displayed
Enter the Name of the clientEnter the Second Holder Name(If any in the bank)Enter the Third Holder Name(If any in the bank)Enter the MICR No.
2. Online ECS Registration (ECS form)Client can apply online through website.
For internal training purpose only
Enter ECS mandate amount
Select the Start Date& No of years
Press PRINTPress SUBMIT
2. Online ECS Registration (ECS form cont…)
For internal training purpose only
Client need to submit printed registration form to servicing outlet.
The registration request must be signed by all the holders in the bank account (sign as per bank’s record)
Client need to submit cancelled cheque along with the form
2. Online ECS Registration
For internal training purpose only
Requests need to be entered and saved in CIS.
Further process will remain same as all other CMC requests
Details explained in next slide(s).
Note – All requests submitted by client through web site is already saved in CIS.
2. Online ECS registration (Process at Branch)
(accepting printed physical ECS request from client)
For internal training purpose only
Requests entered through the website should be confirmed through the following menuAccount Maintenance ECS ECS Request
2. Online Registration (CIS Process)
For internal training purpose only
Enter either Customer ID or S2K Id and press search
Click on it to proceed further
The above details are shown.
2. Online Registration (CIS Process) cont…
Details are displayed as per the data entered by client
For internal training purpose only
Details entered by the client on the website will shown to the user
Modify if the details are incorrect,
CIS will provide the Request ID for all successful entries
2. Online Registration (CIS Process) cont.
select both the mandatory documents and press “Submit”
Please mention the request id on the ECS mandate.Courier process steps as followed for other CMC requests to be completed
Click here to go to Index
For internal training purpose only
New ECS forms can be entered from the MenuAccount Maintenance ECS ECS Request
3. ECS forms (without web request)
ECS Form can be directly accepted by servicing outlet even if the client has not requested through web site.
For internal training purpose only
Enter either Customer ID or S2K Id and press search
All the banks linked to the clients trading account are displayed,.ECS can be started only on those banks which are linked in Sharekhan.
Select the bank through which ECS mandate is requested by client
3. ECS forms cont…
For internal training purpose only
Enter the correct MICR noEnter the Name of the client
Enter the ECS amountEnter the term (No of years)
Enter the ECS Start Date
Select both mandatory documents and press “Submit”
Enter the Second Holder Name(If any in the bank)Enter the Third Holder Name
(If any in the bank)
CIS will provide the Request ID for all successful entries
3. ECS forms cont…
Please mention the request id on the ECS mandate.Courier process steps as followed for other CMC requests to be completed
Click here to go to Index
For internal training purpose only
Reports can be seen from the above menu. Report Account Maintenance Report View Other CMC
Reports in CIS
New request type “ECS” has been introduced
Click here to go to Index
For internal training purpose only
To check the status of your ECS Request go to Report
If status is approved, then customer can map his SIP with ECS
Online Confirmation
Click here to go to Index
For internal training purpose only
Online Order Placement
To place new order or map existing SIP, go to Place Order
For internal training purpose only
Online Order Placement (cont…)
Select fund, & click on SIP
For internal training purpose only
Online Order Placement (cont…)
Fill all SIP details & link ECS ID against that SIP and Click Start SIP
Funds will be debited to client’s bank account 3 days prior of the SIP date.
Click here to go to Index
For internal training purpose only
Linking existing SIP
To link existing SIP’s click on Link Ur Ecs/SIP’s
For internal training purpose only
Linking existing SIP (Cont…)The SIP’s not mapped with ECS will be shown
Select the SIP & the ECS which is to be linked
And click on LINK SIP-> ECS
Above message is displayed for successfully linked SIP
Click here to go to Index
For internal training purpose only
Delinking linked SIP
To delink existing SIP’s click on Delink Ecs/SIP’s
For internal training purpose only
Delinking linked SIP (Cont…)
Select the SIP which is to be delinked
And click on LINK SIP-> CIS
Above message is displayed for successful delink
For internal training purpose only