FAQ on Speed-e Facility
Q.1 What is SPEED-e?
SPEED-e – Securities Position Easy Electronic Dissemination – e is a common Internet Infrastructure that enables the Depository Participants to provide depository services to their clients. Demat account holders, including Clearing Members subscribing to this facility can submit delivery instructions to their Participants through SPEED-e website https://eservices.nsdl.com/, instead of submitting delivery instruction slips in paper form.
Q.2 Who can avail of SPEED-e?
SPEED-e can be availed of by any demat account holder provided its Participant has registered with NSDL for this purpose. As The Kalupur Commercial Co-operative Bank is already registered with NSDL for SPEED-e, demat account holders of The Kalupur Commercial Co-operative Bank can avail this facility.
Q.3 If I want to avail of SPEED-e services, how do I enrol / register for it?
If you wish to avail of this facility, you have the option of password based / e-Token based access to SPEED-e. For password based access, you should fill up an online registration form by choosing your own 'User Id' and 'Password' and then submit the duly filled-in registration form in person to your Participant. The Participant will authorize your request after you sign an agreement with the Participant and thereafter you can operate your account through SPEED-e.
For e-Token based access, you should fill up the 'SPEED-e Application form' available with your Participant and then submit the duly filled-in form to your Participant. The Participant would then register you as a User after you sign an agreement with the Participant and help you procure the e-Token with which you can start using the facility.
Q.4 What is meant by Pre-Notified Clearing Member accounts? Should this Pre-notified Clearing Member also be a member of SPEED-e
The password users using SPEED-e can only deliver securities in favour of Clearing Members (Brokers). At the time of registration, the user must notify the details of Clearing Members (up to a maximum of six) in whose favour the credit can be affected. These Clearing Member accounts are referred to as Pre- Notified Clearing Member accounts. It is not necessary that the Pre-notified Clearing Member should also be a member of SPEED-e.
Q.5 What are the benefits of SPEED-e?
The most important benefit of SPEED-e is that SPEED-e is the safest, fastest & independent way of submitting delivery instructions. You can access the SPEED-esite from anywhere in the world at any point of time, check balances in your account, submit the instructions and track its status. SPEED-e eliminates all the risks involved in submission of DIS in paper form.
Further, if you are a Smart Card / e-Token user, you are able to freeze your account through SPEED-e, which cannot be unfrozen even by your Participant also.
Q.6 Can I also view my account on SPEED-e?
This facility is called IDeAS which is an acronym for “Internet-based Demat Account Statement”. It facilitates Clients as well as clearing members to view details of transactions and balances in their accounts. The Brokers can also download this information to update their back-offices.
IDeAS can be availed of by any demat account holder including Clearing Members (CMs) who have opened an account with any of the Participants under NSDL system. You can avail IDeAS as a Password or as a Smart Card / e-Token user.
Q.7 As a SPEED-e user, how do I register for IDEAS?
Existing SPEED-e users (i.e. both Password and Smart Card / e-Token users) can click on the “Change Service” link and choose IDeAS service. The Kalupur Commercial Co-operative Bank will authorize your request and thereafter you will be able to access IDeAS with the same User Id and password.
Q.8 If I am not a SPEED-e user, how do I register for IDEAS?
If you are a new user, you should fill up an online registration form by choosing your own 'User Id' and 'Password'. The Kalupur Commercial Co-operative Bank Depository Service Cell will authorize your request and thereafter you can access IDeAS. In case you wish to register for IDeAS as a Smart Card / e-Token user, you should fill up the 'Application form for IDeAS' available with your Participant and also on the website and submit the duly filled-in form to your Participant. The Kalupur Commercial Co-operative Bank Depository Service Cell will then register you as a Smart Card / e-Token User.
Q.9 What should I do if I forget my User-Id? If you forget your User-Id, you cannot access SPEED-e?
If you are a password-based user, first approach your Participant for revocation of your present User-Id by quoting your Client Id. After revoking your User-Id, you will be required to re-register on SPEED-e. If you are a e-Token based user, please contact your Participant who will provide you the User-Id.
On submission of your User-Id, click on 'Forgot Password' and fill up an online ' Password Reset Request' form by giving the new Password, Client Id and other personal details. A print out of this form has to be submitted to your Depository Service Cell to authorize the Password Reset Request.
Q.10. Should I change my password at regular intervals?
Yes. You should change your password as frequently as possible by selecting the option ‘Change Password’.
For further information on Speed-e Facility you can contact our nearest branches or Demat Department.