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Why am I not receiving my IPO refunds through ECS?

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ECS (Electronic Clearing Service) or direct deposit in bank account is become a popular way of getting refunds these days. They are fast, cheap and easy to process. From Jan 2006 SEBI permitted use of ECS for IPO refunds. They started with 15 big cities and slowly moving to other cities. Below are few facts about ECS:

  • It's not mandatory for IPO Registrar to send refund amount through ECS.
  • It's up to a registrar to choose city in which they want to send money through ECS and send remaining refunds through registered post.
  • Even if registrar issued ECS in your city, it's possible that the bank information you provided is not correct and you may not get refund through ECS. In case of wrong or incomplete bank account information, registrar sends the refund through cheques.
  • For ECS, your bank account should be in the city where registrar is issuing refund through ECS.
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2 Comments

2. RANA UMESH ARVINDBHAI  Aug 15, 2021 21:04 I Like It. | Report Abuse Reply
My IPO not Refund... When I receive my refund. please Suggest me
1. Ketan  Aug 17, 2009 17:05 I Like It. | Report Abuse Reply
How many days does it take for amount to be credited into an account if it is through ECS mode