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How to withdraw money from CDS Account

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How to withdraw money from CDS Account

Post by SLM on Wed Mar 23, 2011 2:36 pm

Hi Friends,

Can anyone tell me how to withdraw cash (profits Very Happy ) from our CDS account? Still I haven't use this and need to know the procedure to follow.

Thanks... Very Happy

SLM.

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Re: How to withdraw money from CDS Account

Post by duke on Wed Mar 23, 2011 2:50 pm

call your broker and make a request. they will either issue a check or direct transfer to an account if such facility exists for your broker.

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Re: How to withdraw money from CDS Account

Post by Chinwi on Wed Mar 23, 2011 3:15 pm

This is a small clarification.

You can't withdraw money from CDS account. CDS account is for depositing and trading shares. It is (like) a database of the shares we all have.

When you sell a share 'deposited' in CDS your broker gets the money for it to its bank account.
Normally they send a cheque to your address unless you have given instructions against it or you have to pay them for your purchases.
If you do the trading heavily then it is easier to block cheque writing for each selling and ask money from the broker when you need.
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Re: How to withdraw money from CDS Account

Post by Fresher on Wed Mar 23, 2011 6:03 pm

valid answer by chinwi. some joker has given -ve
here's + frm me

the votes are not to be used if the answer makes u happy or offended. it's to thank ppl who have contributed or otherwise.

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Re: How to withdraw money from CDS Account

Post by StocksWatch on Wed Mar 23, 2011 6:18 pm

Agree with NPP. Here is one more + from me for the kind explanation given by Chinwi. By the way, one other point to remeber is it takes T+3 days to realise your money in the broker's account. So the transfer is only done by the broker after T+3 upon your request.
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Re: How to withdraw money from CDS Account

Post by tkc on Wed Mar 23, 2011 6:42 pm

@Chinwi wrote:This is a small clarification.

You can't withdraw money from CDS account. CDS account is for depositing and trading shares. It is (like) a database of the shares we all have.

When you sell a share 'deposited' in CDS your broker gets the money for it to its bank account.
Normally they send a cheque to your address unless you have given instructions against it or you have to pay them for your purchases.
If you do the trading heavily then it is easier to block cheque writing for each selling and ask money from the broker when you need.
Who gave (-) for this? very unfair!! here is (+) from me.......
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Re: How to withdraw money from CDS Account

Post by tkc on Wed Mar 23, 2011 6:43 pm

If valuable posts get (-) like this we may need a Reputation Review System.... Smile
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Re: How to withdraw money from CDS Account

Post by Fresher on Wed Mar 23, 2011 6:58 pm

for one -, now 3 + Very Happy
what we need is to reveal who gave the votes

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Re: How to withdraw money from CDS Account

Post by wis on Wed Mar 23, 2011 7:02 pm

I once gave a - when I was going to give a + because of the touch pad mishap. I had to find a post from the same person and give another + to nullify it.

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Re: How to withdraw money from CDS Account

Post by swan03 on Wed Mar 23, 2011 7:05 pm

@Chinwi wrote:This is a small clarification.

You can't withdraw money from CDS account. CDS account is for depositing and trading shares. It is (like) a database of the shares we all have.

When you sell a share 'deposited' in CDS your broker gets the money for it to its bank account.
Normally they send a cheque to your address unless you have given instructions against it or you have to pay them for your purchases.
If you do the trading heavily then it is easier to block cheque writing for each selling and ask money from the broker when you need.

Well explained. One rep from me Smile

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Re: How to withdraw money from CDS Account

Post by mark on Wed Mar 23, 2011 7:55 pm

@wis wrote:I once gave a - when I was going to give a + because of the touch pad mishap. I had to find a post from the same person and give another + to nullify it.

good honest guy...me too sometimes miss the way to click...........sometimes i given minus,but afterthat i find a post relate to that person and give +rep........... Cool Cool Cool
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Re: How to withdraw money from CDS Account

Post by tkc on Wed Mar 23, 2011 8:50 pm

Just 1 (-) point...but now chinwi is dealing with (+) points....... Smile
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Re: How to withdraw money from CDS Account

Post by banarahu on Wed Mar 23, 2011 8:53 pm

duke, chinwi both spend their valuable time to compose a complete answer... rep for both cheers
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Re: How to withdraw money from CDS Account

Post by SLM on Wed Mar 23, 2011 10:36 pm

@ duke and chinwi - Thanks for your valuable comments. Very Happy

SLM

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