Where can I see the 'eATM Withheld amount' blocked?
You can see it in Trade Book under Details. It can also be seen on Order Verification page at the time of eATM order placement.
What is an 'eATM Order'?
'eATM' which stands for 'Equity-ATM' is a facility offered by ICICIdirect wherein the customer receives instant payout of 75% within 5 minutes of executing cash sell transaction. The customer doesn’t need to wait for T +1 days to receive the funds.
How do I place an eATM Order?
You can place eATM order by turning eATM toggle to 'ON' in "Cash sell" page under equity "Place Order". The rest of the details that need to be filled would be the same as in a normal sell transaction.
What would be the brokerage applicable?
The Brokerage rate applicable for eATM trades would be same as normal cash sell product which will be as per customer's mapped Brokerage scheme.
How many scrips are available for eATM trades?
ICICIdirect.com offers the facility of eATM on both NSE and BSE. To view the list of scrips available for eATM please visit ICICIdirect.com:
Login > Equity> Stock list > Select the respective exchange
In order to view the list of ETFs enabled for eATM please visit ICICIdirect.com:
Login > Equity > ETF list
ICICIdirect can add/delete scrips to/from these lists for which eATM would be permitted.
Will I always receive funds payout during the day for my eATM sale transaction?
Yes, at time of eATM sell you will receive funds in 5 minutes however I-Sec is providing eATM facility on as and when basis and has the full discretion to modify, delay or stop payout of funds.
Is there any reason that I may not be able to place an eATM order?
Yes, you may not be able to place an eATM order if in case:
Your Total Current Equity Limit is negative. You can allocate sufficient funds to Equities so that your Total Current Equity Limit becomes positive.
The daily eATM limit is breached. Please note, you will be able to place eATM orders on the next trading day with fresh limits.
Any other reasons at the discretion of I-Sec.
Is there any limit on the number of eATM trades I can place on a daily basis?
You can place multiple trade in eATM but limit is on total transaction value. The Minimum daily limit of eATM is Rs 50000 per customer and maximum daily limit of eATM is depend on prime or prepaid plan selected. ICICIdirect can however change this limit at its discretion. This limit is inclusive of eATM trades placed on both NSE and BSE. Please note, if this limit is breached, then you will not be able to transact in any eATM product on that day.
What is eATM Withheld amount in an eATM transaction and will this amount be released?
As per the norms of collection of upfront margins, 25% of the Sell value needs to be blocked in case trades are placed under eATM- Instant payout feature and the same is required to be released on next trading (T+1) day. Thus, in order to comply with these norms, if you sell any shares using the e-ATM order then you shall get 75% of the Sell value as instant payout within 5 mins of order execution. Remaining 25% of the sell value will be withheld and will be released on the next trading day after deduction of the necessary brokerage and statutory charges. The payout of this amount will be credited in your account, once the same is processed as per existing normal equity payout process of T+1 day.
For Example, if you place an eATM Sell order of Trade Value Rs 1,000 at 10:00 AM and the eATM withheld amount percentage is 25%, the eATM withheld amount will be Rs 250 (25% * 1000 = 250). This means you would receive a payout of Rs 750 (1000-250 = 750) within a 5 minutes (say 10:05 AM). If the amount of Brokerage and Taxes for this transaction is Rs 2, then remaining Rs 248 will be released in Limits after adjustment of recoveries. Once the brokerage is processed for that trade date, your payout for the same will be given as per the existing normal equity payout process.
What happens if there are other non-eATM trades in the same settlement?
If there are other non-eATM trades in the same settlement, the payment or receipt of funds for those trades will be credited/debited separately on the normal payout or payin day respectively.
For instance:
Case 1:
eATM Sell: Rs 3,000
Cash Sell: Rs 2,000
Suppose the eATM withheld amount is Rs 750 then Rs 2,250 (3000-750 = 2250) will be credited in your account during the day on transaction date itself as payout is given at 5 minute intervals and the balance of Rs 2,000 will be credited on the normal payout day.
Case 2:
eATM Sell: Rs 3,000
Cash Buy: Rs 4,000
Suppose the eATM withheld amount is Rs 750 then Rs 2250 (3000-750 = 2250) will be credited in your account during the day on transaction date itself as payout is given at 5 minute intervals and Rs 4,000 will be debited on the T day.
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