Is it compulsory to register for net banking if I want to open a demat & trading account?
Posted on 28 Nov, 2017
It’s not mandatory to have a net banking facility to transfer money to trading account.
- You can visit the bank and put a request to transfer money via NEFT or RTGS to the broker’s account.(RTGS can be done only for amounts above Rs 2 lakh and will take around 2 hours for the funds to show up in your trading account. NEFT can take up to 2-8 hours for the funds to show up.)
- you can submit a Cheque at your broker’s office, but buying limit would be provided to your trading account once the same is cleared & confirmed by the bank.
So if you want to transfer funds through off-line, We suggest you to do NEFT or RTGS.