Re: Double Charging for AMC and Delivery cost...
Why was this not told before? And how do I sign up for BSDA?
Hello mastermind007,
Thanks for your feedback.
CDSL charges transaction charges on debit of shares from the demat accounts opened with the DP. Hence we apply transaction charges on sale of shares from your account. Most other Depository Participants like us usually bill this amount at the end of the month. However, it sometimes causes confusion as people have to go back and track how many debit instructions they had in the month. In an effort to be more transparent, we charge it on daily basis so that it's easier for our client to verify the amount they have been charged.
Your feedback is well taken, we'll add the list of charges on our brokerage calculator page too. However, for now it's there in our account opening form (KYC form) as well as our knowledge base.
The DP (demat) operations have their own costs associated with them and are not mandatory for a trading account. If the DP costs are subsidized by the trading operations then it'll affect the pricing we can offer for trading. Our objective is to unbundle services so you pay only for the services that you use. Hence if someone does not use a demat account he/she does not need to pay higher amount in brokerage. Moreover, if you meet the below criteria you can get your demat account converted to a BSDA account where AMC charges are waived off:
1. All the individuals who have or propose to have only one demat account where they are the sole or first holder.
2. Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.
3. The individual shall have only one BSDA in his/her name across all depositories.
4. Value of securities held in the demat account shall not exceed Rupees Two Lakhs at any point of time.
In case you'd like to get the account converted please let email us at support(at)vnsfin.com regarding the same.
Thanks for your feedback.
CDSL charges transaction charges on debit of shares from the demat accounts opened with the DP. Hence we apply transaction charges on sale of shares from your account. Most other Depository Participants like us usually bill this amount at the end of the month. However, it sometimes causes confusion as people have to go back and track how many debit instructions they had in the month. In an effort to be more transparent, we charge it on daily basis so that it's easier for our client to verify the amount they have been charged.
Your feedback is well taken, we'll add the list of charges on our brokerage calculator page too. However, for now it's there in our account opening form (KYC form) as well as our knowledge base.
The DP (demat) operations have their own costs associated with them and are not mandatory for a trading account. If the DP costs are subsidized by the trading operations then it'll affect the pricing we can offer for trading. Our objective is to unbundle services so you pay only for the services that you use. Hence if someone does not use a demat account he/she does not need to pay higher amount in brokerage. Moreover, if you meet the below criteria you can get your demat account converted to a BSDA account where AMC charges are waived off:
1. All the individuals who have or propose to have only one demat account where they are the sole or first holder.
2. Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.
3. The individual shall have only one BSDA in his/her name across all depositories.
4. Value of securities held in the demat account shall not exceed Rupees Two Lakhs at any point of time.
In case you'd like to get the account converted please let email us at support(at)vnsfin.com regarding the same.
