eATM by ICICI Direct

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ICICI Direct Equity ATM (eATM) is a facility wherein the customer receives a credit of funds within 30 minutes (as against the current payout cycle of T+2) from the time of execution of sell order in the cash segment.

ICICI Direct Equity ATM (eATM) is a facility wherein the customer receives a credit of funds within 30 minutes (as against the current payout cycle of T+2) from the time of execution of sell order in the cash segment.

Under ICICI Direct Prime Brokerage Plans, customers can get up to ₹1 crore fund credits under the eATM scheme based on the plan they choose.

ICICIDirect eATM Charges

ICICI Prime Plan

eATM Daily Limit

₹900 Yearly

₹10 Lakhs

4500 Yearly

₹25 Lakhs

9500 Yearly

₹1 Crore

eATM Sell ICICIDirect

ICICI Direct Prime Plan customers get the funds from sell proceedings in their trading account in just 30 minutes. eATM funds allow them to invest in other securities on the same day instead of waiting for T+2 days of settlement.

Note:

  • eATM Funds are only available for trading. These funds are not transferred to the bank account.
  • eATM Funds can't be withdrawn from the bank account on the same day. They deposited in the bank only after the T+2 day trade settlement.

eATM Order

Once you are in ICICI Direct Prime Brokerage Plan, all sell orders are considered as eATM. The funds available instantly depend on which Prime Plan you have selected.

Answered on


Frequently Asked Questions

  1. 1. What is eATM withheld amount?

    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 ₹100 each. The total sale transaction is of ₹1 Lakh. The customer gets only ₹98,000 in his eATM. Remaining ₹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.

     

  2. 2. Does ICICI eATM withheld amount paid after deducting brokerage?

    On T+2 days, the brokerage and other charges are dedicated from the eATM withheld amount and the remaining amount is credited back to you.

     


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