Hi Team,
Why can’t you deduct annual maintenance charges on last day of each quarter instead of irregular basis of each individual joining date?
You can deduct on 30-Jun, 30-Sep, 31-Dec & 31-Mar.
It will be easy for users and as well business to track.
Even better, charge it upfront at the start of the year. When someone closes the account, then its a one-off trx to adjust pro-rata and refund.
Old a/c’s dont have amc, but there is 1 in the family that has annoying negative balance issue after every Quarterly settlement. Otherwise make provision to retain 75/- and then settle.
Multiple checks are done before deducting AMC, some of which depend on BSDA info from CDSL. Doing this computation only four times a year makes it difficult. But we’re making many changes on AMC to make it easy for users.
This is being done along with a few more options for user convenience.
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