How can my client remit money to invest through Fintso?
Once your client’s brokerage account is opened, he/she will need to initiate the fund transfer to the brokerage account. This process could take another 2-3 business days. The remittance can be completed either through an online or offline process.
Online Process:
In the Remittance section, you can initiate an online remittance for the supported banks, namely HDFC Bank and ICICI Bank. An instruction manual covering step-by-step process for online remittance shall be shared with your client. The client needs to login to his bank account, add our US partner bank as beneficiary for Foreign Outward Remittance and subsequently initial fund transfer. Once the fund transfer is initiated, it could take 2-3 business days for funds to be reflected in the US brokerage account.
Offline Process:
First, click on ‘Remit’, and fill in bank account and pickup related details. The pickup is for the signed LRS A2 form which will be submitted at the bank on your client’s behalf. The information entered will have to be verified by the client in the same manner as at the time of onboarding. Second, once verified by your client, a pre-filled LRS A2 form will be automatically generated and will be available for download. You need to download this and get it signed by your client and upload it back. The courier will pick up the physical form from the address provided in the previous step. Third, client’s bank will remit the money to
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