NON RESIDENT INDIANS

WHAT IS SPECIAL?

Bank of India customers by virtue of an agreement with ACMIIL and Bank of India can block funds as well as shares directly through the trading system.

This facility helps the bank customer to transfer funds for purchases and shares against sale directly to ACMIIL. This saves the headache of writing cheques for purchases as well as make deliveries for sales.

Outer financial products such as Mutual funds, Gold bonds, Non-convertible debentures, Derivatives, T Bills etc can also be bought in the same system.

HOW TO OPEN AN ACCOUNT?

Use the online KYC and open an Investment account with ACMIIL

You will have to give a power of attorney to Bank of India to transfer funds as well as shares to ACMIIL on successful transactions

HOW DOES THE SYSTEM WORK?

The bank customer can either transfer block funds in advance before they execute a transaction or request ACMIIL to block the funds. In event you are unable to block in advance same can be done once the transaction is executed also

At the end of the day, an obligation file is sent to the bank which checks if the blocks have been put by you and in event of advance blocks funds are transferred to ACMIIL for onward transfer to stock exchanges / Depository

In event of sale of shares amounts due to you are transferred to your bank account directly once the pay-out happens on T+2 day.

CALL CENTRE TO ASSIST SENIOR CITIZENS?

If you are not net savvy and are unable to use the computer, then we have a call to Trade facility in our office whereby you can call our customer service desk and get any transaction executed.

just for information

Instead of frequent trading we advise you to invest in investment baskets or use our Portfolio Management services