How to Transfer Funds into Your Trading Account?

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If you’re looking to buy and sell shares and other securities in the stock market, then a Premium Account alone will not be enough. While it is one of the prerequisites, you will need to have a trading account in your name as well. And once you’ve opened both the demat and trading accounts, you need to add funds to your trading account. Only then can you begin to buy shares over the stock exchanges.

If you’re unaware of how to transfer funds into your trading account, you’ll be glad to learn that it is quite easy and takes only a couple of minutes to complete. In this article, we’ll take a look at the different ways in which you can transfer funds into your trading account. Let’s begin by first exploring what a trading account is and why it is needed.

What is a trading account?

As you’ve already seen above, a trading account, along with a Premium Account , is a prerequisite that you need to possess to be able to buy and sell shares in the stock market.

The shares and other securities that you buy through the trading account are then stored in the Premium Account . And similarly, the securities stored in your Premium Account can be sold on the stock exchanges through the trading account.

This is precisely why your Premium Account is linked with your trading account. It allows you to buy and sell securities easily. If you’re finding this hard to visualise, here’s an example that can help you understand how a trading account facilitates purchases and sales of securities.

Let’s say that you’ve opened a demat and trading account with TradeSmart Online. Both of these accounts are already linked together. Now, say you wish to purchase the shares of TVS Motors. In this case, what do you do? You simply log into your trading account, add TVS Motors stocks onto your wishlist, and place a buy order for the number of shares of the company that you wish to purchase. Once your buy order is executed, the shares that you bought will automatically be credited to your Premium Account within T+2 days.

Why should you add funds to your trading account?

Now, since the trading account is what facilitates purchasing of shares and other securities, the funds for making the purchases have to be added to your account before you buy the securities. Without adding the requisite funds, you will not be able to purchase any shares from the stock exchanges.

And since the trading account is linked only to the Premium Account , and may not always be linked directly to your bank account, you will not be able to directly purchase any shares. Instead, you will have to manually initiate a fund transfer from your bank account to your trading account and then use the funds in the trading account to make a purchase.

How to transfer funds into your trading account?

So, you’ve seen what a trading account is and why you would need to add funds to it, right? Now, let’s see how you can go about transferring the funds to your trading account. Here’s where it gets slightly tricky. As each stock broker has their own trading account platforms, the process for transferring funds into the account tends to vary.

At TradeSmart Online, there are as many as 5 different ways through which you can add funds to your trading account. Continue reading for a more in-depth look at each of the options available.

Via the TradeSmart Mobile App

If you use the TradeSmart mobile application , then the steps that you would have to follow to transfer funds into your trading account are listed below.

1. Log into the TradeSmart Mobile application using your user credentials.
2. Tap on the ‘Funds’ option at the bottom.
3. Choose the segment –Equity or Commodity for which you wish to transfer the funds to.
4. Tap on the ‘Add’ button.
5. Choose your preferred payment method –Net Banking or UPI and proceed.
6. You will be redirected to the payment page according to your selection.
7. Complete the payment successfully. The funds will be instantly added to your trading account.

Via the TradeSmart Mobile App

On the other hand, if you prefer using the TradeSmart  Mobile application to place trades on the stock exchanges, here’s what you would have to do.

1. Log into the TradeSmart Mobile application using your user credentials.
2. Tap on the ‘Fund Transfer’ option. You can find this option under the 3-line menu section of the app.
3. Tap the ‘Pay In’ option.
4. Select your preferred payment method –UPI or Net Banking and proceed.
5. You will be redirected to the payment page according to your selection.
6. Complete the payment successfully. The funds will be instantly added to your trading account.

Through the TradeSmart Desktop app

If you’re a TradeSmart Desktop app user, then the process that you would have to follow to transfer funds into your trading account is elaborated below.

1. Open TradeSmart Desktop Trader on your desktop and log into the application using your user credentials.
2. Navigate to the ‘Secure URLs’ option of the app and click on the ‘Pay In’ option.
3. Choose the segment –Equity/F &O/Currency or Commodity for which you wish to transfer the funds to.
4. The bank details (your bank name and your bank account number) that you’ve registered with your TradeSmart account will be visible. Select the same.
5. Enter the amount of funds that you wish to transfer to your trading account and click submit.
6. You will be redirected to the net banking payment page.
7. Once you complete the payment successfully, the funds will be instantly added to your trading account.

UPI Transfer from BOX

You can also transfer funds into your trading account by logging into BOX , which is TradeSmart Online’s backoffice platform. To do that, here are the steps that you should follow.

1. Log into the BOX backoffice platform using your TradeSmart Online user credentials.
2. Navigate to the menu list. Under it, you can find the Fund Transfer option.
3. Click it and select the ‘Pay In’ option.
4. Now, enter the amount that you wish to transfer to your trading account.
5. Then, select the UPI button and click on the ‘Pay In’ button.
6. Once you’re redirected to your UPI application, complete the payment.
7. Your funds will be added instantly to your account.

NEFT / IMPS / RTGS Transfers

Another great way to transfer funds into your TradeSmart Online trading account is by making an NEFT / IMPS / or RTGS transfer through your bank’s internet banking portal.

The beneficiary bank details that you would have to use to add TradeSmart Online as a payee in your account is as follows.

Equities

Beneficiary Name: VNS Finance and Capital Services Limited

Name of the Bank: ICICI Bank Ltd

Account no: VNSF <Your Client Code >

IFSC Code of the Bank: ICIC0000104

Commodities

Beneficiary Name: VNS Broking Private Limited

Name of the Bank: ICICI Bank Ltd

Account no: VNSC <Your Client Code >

IFSC Code of the Bank: ICIC0000104

Once you’ve added the above two accounts as payees in your bank’s internet banking portal, you can simply start making fund transfers to these accounts. The amount that you transfer will be reflected in your trading account within a short while.

Here’s something to note. When using this method, remember to make transfers from the bank account that’s registered with your trading account. Using any other account to make transfers may not work.

Conclusion

Before initiating a trade, remember to always ensure that your trading account is well funded. If you find that your account is lacking in funds, you can use any one of the above methods to instantly transfer money into your trading account.

Wish to get started with trading but don’t have a demat and trading account? With TradeSmart Online, you can open one in a hassle-free and paperless process. Click here to get started right away.