What are the ways NRIs can add funds to their Firstock trading account?
NRIs can add funds to their Firstock account in two distinct ways, depending on whether their account is linked to a PIS (Portfolio Investment Scheme) or a Non-PIS (typically an NRO) bank account.
For PIS Accounts
- Fund Transfer: Transfer funds directly from your NRE or NRO savings bank account to the designated PIS bank account provided by Firstock.
- Bank Reporting: Your bank reports the PIS account balance to Firstock at the end of the same day.
- Balance Update: Firstock updates your fund balance before the markets open on the following day.
- Transfer Restrictions: PIS account holders must avoid using IMPS/NEFT/RTGS for fund transfers.
For Non-PIS (NRO) Accounts
.For Clients who have opted to trade in F&O: To add funds to trade in the F&O segment, they have to transfer to the Custodial (ORBIS) Pool account; these funds can only be used for F&O trading. For more information, contact our Customer Support team.
- UPI Transfers:
- Free & Instant: Use UPI for instant, fee-free transfers from your registered bank account. Ensure that the UPI transfer is initiated through Firstock’s payment gateway for immediate fund updates.
- Instant Payment Gateway(Net banking ):
- Convenience at a Cost: You can also add funds via Firstock’s instant payment gateway, which incurs a charge of ₹9 plus 18% GST.Note: This option will redirect clients to their registered bank account’s official portal.
- Other Transfer Methods:
- IMPS/NEFT/RTGS: Transfers using these methods are free through Firstock, though your bank’s charges may apply.
- Cheque: Cheque deposits are also accepted free of charge.
Note: These Fund transfer amounts can only be used for the Equity segment
This ensures that NRIs can conveniently add funds based on the type of bank account linked to their Firstock account. For further assistance or clarification, please contact Firstock customer support.
