"T" is the day your trade happens. "T+2" is two trading days later, when the trade is settled: money and shares change hands.
Only trading days count: Sunday to Thursday, excluding public holidays. A trade on Thursday settles on the following Monday.
Pay your bill by T+2. After settlement the shares arrive in your DEMAT account, and you can see them in Mero Share.
If a bill isn't paid on time, the broker may sell the purchased or collateral shares, from T+4, to recover the amount.
Transfer the shares through EDIS in Mero Share by 12 noon on T+1, and make sure your purchase price (WACC) is up to date. Your money, after charges and capital gains tax, is paid to your bank account after settlement.
Missed a payment or the EDIS cut-off? Call us straight away on 01-5917930. The sooner we know, the more we can help.
CLIENT TO REVIEW This guide explains the general process in plain language. Exchange and CDSC rules change from time to time; if anything here differs from what you see in TMS or Mero Share, follow the system and ask us.