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Sri Lanka Equity Forum » Stock Market & Forum Help » How to withdraw money from CDS Account

How to withdraw money from CDS Account

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1 How to withdraw money from CDS Account on Wed Mar 23, 2011 2:36 pm

SLM


Stock Analytic
Stock Analytic
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.

2 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 2:50 pm

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
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.

3 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 3:15 pm

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
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.

4 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 6:03 pm

Fresher


Moderator
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.

5 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 6:18 pm

StocksWatch

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
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.

6 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 6:42 pm

tkc

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@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.......

7 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 6:43 pm

tkc

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
If valuable posts get (-) like this we may need a Reputation Review System.... Smile

8 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 6:58 pm

Fresher


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

9 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 7:02 pm

wis


Manager - Equity Analytics
Manager - Equity Analytics
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.

10 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 7:05 pm

swan03


Vice President - Equity Analytics
Vice President - Equity Analytics
@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

11 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 7:55 pm

mark

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@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

12 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 8:50 pm

tkc

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Just 1 (-) point...but now chinwi is dealing with (+) points....... Smile

13 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 8:53 pm

banarahu

avatar
Manager - Equity Analytics
Manager - Equity Analytics
duke, chinwi both spend their valuable time to compose a complete answer... rep for both cheers

14 Re: How to withdraw money from CDS Account on Wed Mar 23, 2011 10:36 pm

SLM


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

SLM

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