What is eATM withheld amount?

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eATM withheld amount is the amount held by ICICI Direct from the proceedings of sell transactions in the equity cash segment while using Equity ATM (eATM) facility. This amount is held to cover the trading expenses including brokerage and taxes.

Example:

An ICICI Direct customer who has ICICI Direct Prime Plan sells 1000 shares of Rs 100 each. The total sale transaction is of Rs 1 Lakh. The customer gets only Rs 98,000 in his eATM. Remaining Rs 2000 is held by the broker to cover the cost of trading i.e. brokerage, taxes, etc.

eATM is an add-on feature offered by ICICI direct wherein you get the proceeds or money from the sale of shares within 30 minutes of the transaction in your trading account.

In the normal settlement cycle, it takes T+2 days to get the sale amount. But, in eATM, you get it almost instantly.