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ECS Process - PowerPoint PPT Presentation


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ECS Process. ECS Facility - Highlights. 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.

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slide2

ECS Facility - Highlights

  • 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.

For internal training purpose only

slide3

How does it Work

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 – NIL

Balance 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

For internal training purpose only

slide4

Key Benefits

  • 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

For internal training purpose only

slide5

Features

  • 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.

For internal training purpose only

slide6

List of ECS enabled Cities

For internal training purpose only

slide7

Process

  • 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.

For internal training purpose only

slide8

Index

For internal training purpose only

slide9

1. Account Opening

If the client has opted for ECS, then check box “Enable ECS” should be clicked

Ensure to send duly signed ECS mandate & cheque leaf along with account opening form

Rest of the process would be taken care at HO.

Click here to go to Index

For internal training purpose only

slide10

2. Online Registration (by Client)

Client can apply online through website.

Log in on website & select MF section

Select Registration option under ECS menu

For internal training purpose only

slide11

2. Online ECS Registration (ECS form)

Client can apply online through website.

Bank Account mapped to MF will be displayed

Enter the Name of the client

Enter the Second Holder Name

(If any in the bank)

Enter the Third Holder Name

(If any in the bank)

Enter the MICR No.

For internal training purpose only

slide12

2. Online ECS Registration (ECS form cont…)

Enter ECS mandate amount

Select the Start Date

& No of years

Press PRINT

Press SUBMIT

For internal training purpose only

slide13

2. Online ECS Registration

  • 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

For internal training purpose only

slide14

2. Online ECS registration

(Process at Branch)

(accepting printed physical ECS request from client)

  • 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.

For internal training purpose only

slide15

2. Online Registration (CIS Process)

Requests entered through the website should be confirmed through the following menu

Account Maintenance  ECS  ECS Request

For internal training purpose only

slide16

2. Online Registration (CIS Process) cont…

Enter either Customer ID or S2K Id and press search

The above details are shown.

Details are displayed as per the data entered by client

Click on it to proceed further

For internal training purpose only

slide17

2. Online Registration (CIS Process) cont.

Details entered by the client on the website will shown to the user

Please mention the request id on the ECS mandate.

Courier process steps as followed for other CMC requests to be completed

Modify if the details are incorrect,

select both the mandatory documents and press “Submit”

CIS will provide the Request ID for all successful entries

Click here to go to Index

For internal training purpose only

slide18

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.

New ECS forms can be entered from the Menu

Account Maintenance  ECS  ECS Request

For internal training purpose only

slide19

3. ECS forms cont…

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

For internal training purpose only

slide20

3. ECS forms cont…

Enter the correct MICR no

Enter the Name of the client

Enter the Second Holder Name

(If any in the bank)

Enter the Third Holder Name

(If any in the bank)

Enter the ECS amount

Enter the term (No of years)

Enter the ECS Start Date

Please mention the request id on the ECS mandate.

Courier process steps as followed for other CMC requests to be completed

Select both mandatory documents and press “Submit”

CIS will provide the Request ID for all successful entries

Click here to go to Index

For internal training purpose only

slide21

Reports in CIS

Reports can be seen from the above menu.

Report  Account Maintenance Report  View Other CMC

New request type “ECS” has been introduced

Click here to go to Index

For internal training purpose only

slide22

Online Confirmation

To check the status of your ECS Request go to Report

If status is approved, then customer can map his SIP with ECS

Click here to go to Index

For internal training purpose only

slide23

Online Order Placement

To place new order or map existing SIP, go to Place Order

For internal training purpose only

slide24

Online Order Placement (cont…)

Select fund, & click on SIP

For internal training purpose only

slide25

Online Order Placement (cont…)

Funds will be debited to client’s bank account 3 days prior of the SIP date.

Fill all SIP details & link ECS ID against that SIP and Click Start SIP

Click here to go to Index

For internal training purpose only

slide26

Linking existing SIP

To link existing SIP’s click on Link Ur Ecs/SIP’s

For internal training purpose only

slide27

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

slide28

Delinking linked SIP

To delink existing SIP’s click on Delink Ecs/SIP’s

For internal training purpose only

slide29

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

slide30

Thank You

Please write to operations@sharekhan.com or assist@sharekhan.com for further queries