ICICI Securities has officially launched e-ATMs for retail investors in a pioneering move aimed at making trading simpler. With these e-ATMs, retail investors will enjoy real-time access to funds in bank accounts during stock sales on the BSE (Bombay Stock Exchange). It usually requires two transaction days as a waiting period under the present settlement method.
The ICICI Direct account will function just like an ATM where customers can easily sell and then withdraw cash within 30 minutes. This helps add more liquidity when it comes to ingesting of stocks. Funds are credited within a period of 30 minutes with the limit being Rs. 50, 000 per day per client. The new facility will be available for all ICICI Direct clients without any additional charges. This will be available for stocks which are sold on the BSE.
The feature will be open for traders in the cash segment for almost 600 stocks that are traded on the BSE. This will help retail investors with a tool that will help in scaling up liquidity and ease their access to funding. The e-ATM will revolutionize investments in stock with instant access to liquidity for retail investors. Customers can remain invested till the last minute with funds being credited to accounts within half an hour of trades. This service will remain open for everyone and will be available without any added costs.