Sooooo Confused with HDFCsec Hold/Release Option

Hello to all investors!

I, being NRI, opened Online Trading Account(PIS). After lot of strugle I was able to login into the HDFCsec.com site. After email interactions I came to know that I have to transfer fund from my NRE savings account (HDFC bank) to this trading account before making any purchase So as per their Demo which requires my fund to be transfered from my NRE account to Trading account via Fund Transfer and then use that HOLD option from My Trading Account. I did the same and yesterday after fund transfer I checked the Bank Balance and it showed xxxxx ( the money i had transfered) but today morning for my first purchase (as its thursday and even being from kerala I devote Shri Shirdi Sai for thr first purchase in India) I found fund not enough..I called HDFC sec and they told i dont have balance and after interaction and explaining the CS told me to send the screen shots of my transaction. I did....

Now As per the HDFCsec we need to transfer fund and then keep the fund on hold to make purchases ( Correct me if I am wrong). I did the same but cant find the amount... I lost today's muhurat purchase...
Now i got email from HDFS that my funds are on hold and will be updated shortly??? that made me CONFUSED!!!

Can anyone who is using HDFC please explain me... whats HOLD/RELEASE?

I live in Thailand (anyone coming to this country pls be my guest I would love to take you around), I do online trading in thai stock exchange but never heard of HOLD/RELEASE instead we have the option to transfer our fund to the broker account and inform them online and 2 hours funds are available to transact and same is the withdrawel...

here its called Fund Transfer (IS that our HOld?)
and Fund Withdrawel (this that our release?)

Pleaseee make me understand


Finally, their demo shows that they have stock watch for 30 strips but i tried heard I could not find that options.

Thanks for reading... its just experience I shared here

Regards
ANIL

Hold/Release is definitely confusing; it is also a pain while trading. At the outset, it is assumed that you have their old web based trading account -- this does not show streaming quotes. They have recently introduced the streaming quotes version for which they charge extra but I have not used it.

To understand Hold/Release, think old-fashioned in terms of three separate entities. You have a trading terminal, a bank account and depository. To trade, you would need to put money on Hold from the bank account, and put securities on hold from your depository. Reverse of this is Release.

To trade, you need to put some amount on hold from your bank account. If say you have 10 lakhs in your bank account, but want to use 2 lakhs for trading, you need to put 2 lakhs on hold before you start buying. You may use only some part of 2 lakhs to trade. At the end of the day, the balance / unused amount automatically goes back to the bank account. Implicit in this is the sad part -- as the money is automatically released back to the bank account at end-of-day, you would have to put money on hold every day. If you need the money in the bank account prior to EOD, then you can Release it.

Similarly, if you wanted to sell some shares in your depository, you would first have to put them on hold before placing the sell order. The sad part is that you would have to do it for each script one at a time, and there is no way, using their web based trading terminal, to place all your holdings on hold in one go.

Hope this is clear enough to help you. You will also realize that the HDFC web trading account is designed for those who trade once ever so often and not for somebody trading daily.

WhyLately,

Thanks for the wonderful explaination. So it was the same what I thought. You were mentioning about HDFC's new trading terminal do you have any details or web reference ?

Can I purchase a Trading Termianl from any broker ?

Thanks for your clarification

Regards
Aneel

Aneel, HDFC does not seem to be promoting their streaming quotes version on the web as yet. I had received an email from them; also, on the couple of occassions that I called up their support, this version came up in conversation. Suggest you write to them or call support.

NRIs have some norms and limitations and they have been discussed in this forum. ShareKhan has a tieup with HDFC for NRI account holders; IndiaBulls has a tieup with Axis Bank -- this is the little I know.

Many Thanks WhyLately (BTW I liked you username )

Regards Again

Aneel

Hi, Im also an NRI trading account holder in HDFC Sec, before placing a buy order you are requried to tranfer funds from your NRE/NRO account to the PIS account via www.hdfcbank.com.

There is no need for you to create hold manually from the funds hold & relese option. while placing order the system will prompt you to create a hold & you required to proceed futher.

If you have any problem then you can post an email to [email protected] can assist you.

HDFC securities website is worst design by any standard.. no charts, no research, too high brokerage, pop ups open like porn website and hold/release to piss you off..

your offline order won't show up and executed orders won't show up live.

talk about fast execution..

wtf or WFH.. who design this disaster website. hard comprehend they are leading bank.