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CANMONEY - ONLINE TRADING TO NRIs/PIO
www.canmoney.in
welcomes you to the world of hassle free, paperless, seamless
trading facility in the Indian Stock Market.
Reserve Bank of India has permitted the Non Resident Indians (NRIs)
to invest in the Indian Stock Market and to trade through
Registered Stock Brokers. NRIs/PIO of all countries where their
local laws do not restrict/prohibit On Line Trading (OLT) are
eligible to avail OLT facility through our portal. NRIs/PIO
residing in USA is not eligible to avail this facility.
BASIC REQUIREMENTS: 3 IN 1 ACCOUNT
- NRE Savings / Current Account – PIS (Portfolio Investment
Scheme) with any of the designated branches.
- Demat Account with Canara Bank Depository Participant
(DP).
- Trading Account with Canara Bank Securities Ltd. (CBSL),
Mumbai.
PORTFOLIO INVESTMENT SCHEME (PIS): IMPORTANT NOTE
- The SB/CA – PIS account can be opened only in select
Designated Canara Bank branches in India.
- The NRI/PIO may either open a Savings Bank (SB) account or
a Current Account (CA) PIS account.
- The NRI/PIO may either open NRE – PIS account or NRO – PIS
account for investing in shares on repatriable or
non-repatriable basis respectively.
POINTS TO REMEMBER WHILE FILLING-IN THE FORMS
- Corrections, if any, should be duly authenticated by the
applicant
- Address on the form should be exactly as on the address
proof document provided.
- Name & Date of birth should match with that given in the
PAN Card.
- E-mail id and telephone numbers should necessarily be
mentioned. Correctness of your e-mail address is of utmost
importance as most of the future correspondence will be to
your e-mail address registered with us.
- The signatures should be properly witnessed, wherever the
space is provided for.
- ‘Original seen and verified stamp’ should be affixed by
bank official or documents should be attested by Indian
Embassy/Consulate General of the respective country
- On Line Trading (OLT) to US based NRIs/PIO is NOT
permitted.
- Customer self attestation is required on all supporting
documents.
- The documents may be attested by officials of Canara Bank,
when NRI/PIO is in India or by Notary
Public/Court/Magistrate/Judge/Local Banker/Indian
Embassy/Consulate General of the country, when the NRI/PIO is
abroad.
- Proof of Identity – Copy of PAN Card
- Copy of Passport / visa / work permit
- Proof of Overseas Address
- Proof of Indian address
STEPS FOR OPENING ON LINE TRADING (OLT) ACCOUNT WITH
www.canmoney.in WHEN YOU ARE ABROAD
STEP 1:
Visit www.canmoney.in >> NRI Service
STEP 2: Download and print the following:
STEP 3: Fill-in the above forms in all respects duly
affixing your photographs in the relevant space provided.
STEP 4: Get the following forms/documents attested
with “Original seen & verified” stamp by any of the entities
viz., Notary Public, Court, Magistrate, Judge, Local Banker,
Indian Embassy/Consulate General of the country where you
are residing:
- SB/CA – PIS NRE/NRO Account Opening Form for NRIs -
Introduction column
- Page 4 of Demat Account opening Form – In-person
verification column
- Page 3 of Trading Account opening Form – In-person
verification column
- Copy of Passport/Visa/work permit
- Copy of Pancard
- Copy of Proof of Indian & Overseas Address
STEP 5: The SB/CA – PIS account can be opened only in
select designated Canara Bank branches. To view the list of
Canara Bank branches designated to open PIS account in India
Click here
STEP 6: Send the following forms/documents to the
desired designated Canara bank branch:
- SB/CA – PIS NRE/NRO Account Opening Form for NRIs
- Demat Account opening Form
- Trading Account opening Form
- Form RPI (for buy/sell of shares under repatriable
basis)
- Form NRI (for buy/sell of shares under non-repatriable
basis)
- PIS Declaration
- FEMA Declaration
- 3 attested Copies of Passport/Visa/work permit
- 3 attested Copies of Pancard
- 3 attested copies of Proof of Overseas & Indian
Address
- 3 attested Copies of Passport/Visa/work permit
- Remittance of Rs.1225/- favouring Canara Bank, which
includes
- Rs.1000/- towards Trading account opening charges + Out
of pocket expenses
- Rs.225/- towards Annual Maintenance Contract charges for
demat account
To view the mode of remitting the initial deposit to the
designated Canara Bank branch click on the link given
below:
http://www.canarabank.com/English/scripts/NRIRemittanceFacilities.aspx
STEP 7: Once all the aforesaid documents are received
at the desired PIS designated branch, your SB/CA PIS NRE/NRO
account will be opened. Your Demat account will be opened
with Canara Bank and your trading account will be opened
with us.
STEP 8: Subsequently, you will receive client ID and
password in two separate snail mails to your correspondence
address. Once you receive the same, you need to send an
e-mail confirmation to us at customercare@canmoney.in from
your e-mail address registered with us or you may call us on
1800 22 0369 / 1800 103 1369 or +91 22 2406 3800 / 3837 /
3843 and your trading account will be activated for On Line
Trading (OLT).
STEP 9: At times, you may not be able to access your
system or loose the internet connectivity during the trade
hours. To overcome such situation, after the activation
process, we shall send to you a unique 4-digit Telephone
Personal Identification Number (TPIN) by snail mail with
which you can also place your orders through telephone by
calling on the Number 1800 22 0369 / 1800 103 1369, while in
India or +91 22 2406 3871 - 3873 while abroad.
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STEPS FOR OPENING ON LINE TRADING (OLT) ACCOUNT WITH
www.canmoney.in WHEN YOU ARE ON A VISIT TO INDIA
STEP 1:
Call on us on our Toll Free Number 1800 22 0369 / 1800 103
1369 or 022 24063800 - 3837 - 3843 and we shall arrange to
provide you the application forms OR you may visit (y)our
nearest CBS enabled Designated Canara Bank branch for
application forms.
STEP 2: Fill in the application forms in all respects
duly affixing your photographs in the relevant space
provided.
STEP 3: Get the following
documents attested with “Original seen & verified” stamp by
your nearest CBS enabled Canara Bank branch:
- SB/CA – PIS Account Opening Form for NRIs -
(Introduction column)
- Demat Account opening Form (In-person verification)
- Trading Account opening Form (Introduction column)
- Form RPI (for buying/selling of shares under
repatriable basis)
- Form NRI (for buying/selling of shares under non-repatriable
basis)
- PIS – Terms & Conditions / Declaration
- FEMA declaration
- Copy of Passport/Visa/work permit
- Copy of Pancard
- Proof of Overseas Address
- Proof of address in India
- Remittance of Rs.1225/- favouring Canara Bank, which
includes
- Rs.1000/- towards Trading account opening charges + Out
of pocket expenses
- Rs.225/- towards Annual Maintenance Contract charges for
demat account
STEP 4: Send the aforesaid application forms &
documents to the nearest Canara bank branch designated for
opening SB/CA - PIS account. To view the designated Canara
bank branches for opening PIS account Click here
STEP 5: You will then receive client ID and password
in two separate snail mails to your correspondence address.
Once you receive the same, you need to send an e-mail
confirmation to us at
customercare@canmoney.in from your e-mail address
registered with us and your trading account will be
activated for On Line Trading (OLT).
STEP 6: At times, you may not be able to access your
system or loose the internet connectivity during the trade
hours. To overcome such situation, after the activation
process, we shall send to you a unique 4-digit Telephone
Personal Identification Number (TPIN) by snail mail with
which you can also place your orders through telephone by
calling on the Number 1800 22 0369 / 1800 103 1369, while in
India or +91 22 2406 3871 - 3873, while abroad.
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HOW IT WORKS:
Clients to allocate / hold funds in favour of the Company
before putting the buy order. In other words, clients need not
transfer the funds from their account until the buy order is
executed. Clients can place order upto 99% of the funds put on
hold / allocated in favour of the Company. By the hold /
allocate facility, the funds will remain in the account of the
client and will be transferred to company’s account only in case
the purchase order is executed. Further the unutilized allocated
funds will be under perpetual hold, whereby the client can use
such funds till they are fully utilized. Clients can also
release the unutilised funds at their wish.
In respect of stocks also, Clients to create hold on stocks in
favour of the Company before putting the sale order. In view of
the hold facility, the stock will remain in the demat account of
the client and will be transferred to company’s pool account
only in case the sale order is executed. Further the unutilized
hold stocks will be under perpetual hold, whereby the client can
sell such stocks till the stocks are released. Unsold stocks can
be released by the clients at their will.
Debits towards purchase of shares will be recovered on the
Transaction day (T day) and sale proceeds of shares will be
credited to your account on T + 2 day (Transaction + 2 day).
However, you can utilize the sale proceeds of shares on the same
day for purchase of shares.
PRODUCTS CASH N CARRY:-
In terms of the RBI guidelines, NRIs are required to take
delivery of the stocks purchased and give delivery of the stocks
sold through the brokers. Accordingly, only delivery based
transactions i.e.Cash N Carry is made available to the NRI
clients. NRI clients can place delivery based orders for all
stocks listed in NSE/BSE, subject to restricted / banned list
published by RBI / Exchanges from time to time.
CBSL permits the clients to trade in both the leading Exchanges
i.e. NSE / BSE.
Salient features of the Cash N Carry Product are also furnished
in FAQs column in the site.
For any clarification/information please e-mail your queries to
nriservice@canmoney.in
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