Newbee totally confused @ sbicapsec

Discussion in 'Investors Grievances' started by aashish_9601, Jan 31, 2011.

  1. aashish_9601

    aashish_9601 New Member

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    I am an very newbie to shares and have opened an demat & online trading a/c with sbicapsec.

    I have tried to purchase some shares today, so i did the following

    1) In the SbiCapSec Portal, I clicked on Fund Lien and transfered 2000 rupees from my saving a/c

    For which i have recd. and Msg from Sbi stating that "Hold for INR 2000.00 created in you AC xxxx on 31/01/11. avi balance 12,541.30"

    This step was like an trial to learn how to transfer money from savings a/c to demat a/c

    2) Now, to purchase the shares I have transfered another 2000 from the saving a/c to demat a/c

    After that I have placed an order for 10 shares of Cipla as Delivery for ruppes 3352.32 including brokerages ,etc

    Following the pdf Demo on sbicapsec site, after confirming the order i have clicked on the DP lien , and gave the credentials as required, I got an alert message as "No Free (i dont remember exactly what it said, either Money/Lien) available in your a/c"

    Now around 5:00 Pm i have recd. two msgs from sbi stating as

    "Hold for INR 2000.00 REMOVED from you AC xxxx on 31/01/11. avi bal INR 14,541.30"

    "Hold for INR 4000.00 created in you AC xxxx on 31/01/11. Avi bal INR 10,541.30"

    Why where 2000 removed and why as 4000 added?

    3) To check my trade status i have clicked on Trade Log button , but it shows only "success" , no entries are shown.

    I know that shares are delivered after T+2 days, but why it isn't showing in the trade log

    4) Later around 9:30 Pm i got the following messages from sbi

    "Hold for INR 4000.00 removed rom you AC XXXx on 31/1/11. Avil Balnce INR 14,541.30"

    "Available Balance in you Account xxxx on 31/1/11 is INR 11,188.98" (i.e 14k-cost of cipla shares)

    "Hold for INR 647.68 created in you AC xxxx on 31/1/11. Avl Bal INR 10,541.30"


    Now i am in total confusion about all the above processings, plz explain me the above processing

    Does the money gets automatically transfered to the demat a/c bcoz it is linked with the savings a/c?

    plz help

    Thanks
     
  2. gsagrawal49

    gsagrawal49 New Member

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    Hi Friends,
    I agree with the remarks about sbicapsec.They don't care to update
    the changes made in their trading platform.As for an example, to change the
    product of trade eg.from intraday to delivery and vice versa, you are required
    to make changes by clicking on convert option on net trade order screen, whereas in sbicapsec trading demo. they have shown it through by clicking on exchange order number on trade book order screen.
    Ghanshyam
     
  3. mayavinay

    mayavinay New Member

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    Yes I agree with the girevances. Services SBICAPSEC.com is highly unsatisfacotry in respect of any other securities serivices particualrly in Dhanbad area of Jharkahnd state. No body is there to guide us or help us.
    maya :annoyed
     
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