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.

Topic: eATM by ICICI Direct Meaning

5 Comments

5. SUDDHODAN ROY Aug 6, 2021 11:30

The balance withheld amount after paying the 99 % gross in the eATM scheme, is not returned. What are the items of charges deducted ? Is ICICIDirect also charging interest for 2 days on the gross amount, since 99 % of the funds are being paid within 30 minutes ? In such a case, what is the annualised rate of interest ?

4. ARUL KUMAR May 3, 2021 16:17

HI SIR, DURING SELL THE STOCK 20 % OF MONEY IS WITHHELD, WHEN THE MONEY IS CREDITED IN MY ACCOUNT

3. Rahul Desai Jul 21, 2020 20:23

I have an amount with held at the end of the e ATM sell transaction under - Fund Allocation as on 20/07/2020. When will this amount be released and credited to my linked bank account?

2. H Panchal Jul 20, 2020 16:59

When i can receive withheld amount ?

1. pinak roy Jul 8, 2020 22:41

when the withheld amount of eatm sell transaction is released.

1.1. Team Chittorgarh.com Jul 9, 2020 09:19

Dear Sir,
The withheld amount of eATM sell transaction is released on T+2 days where T is the day of your trade execution.

This is inline with standard trade settlement cycle.

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Does ICICI eATM withheld amount paid after deducting brokerage?

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