Dear Friends,
My client has a physical problem in him hand and he can’t n sign properly. He can’t have consistency in his signature and usually one out of 3 or 4 chqs only getting cleared by his bank.
He is planning to make a single purchase in 5 different funds now and he will be making similar investments regularly. Now the problem is getting his investment chqs cleared and the problem at the time of repurchase.
I had suggested online investment but here also I believe he has to sign initially the request forms. Is it possible to invest online even without having the initial signatures.
Kindly suggest me a solution for this problem.
Regards,
J.C.Thirumurugan,
Financial Consultant, WCMS - Wealth Creation & Management Services.
66/A-102, 70 Feet Road,Periyar Nagar,Chennai - 600 082. Indiawww.wcms.in, jct_murugan@wcms.in, Mobile : 9840766610
17 comments:
Dear Thiru,
Greetings!
He can visit his bank. Explain his problem. Sign multiple times & get his signatures authenticated by his banker. He can then switch to online transactions with the banker's authentication letter or to a platform like iFast.
Moshin Bijapuri
mohsin.bijepuri@gmail.com
For initial cheques , i cannot suggest anything,
But for repurchase he could have someone as a joint owner with E or S option, so that the need for his signature is not there. Provided he has someone he trusts.
Also he declare himself illiterate and put his thumb impression and get it attested with a photo id.
Hope it helps.
Suresh Balaji
sbb09@yahoo.com
Dear Thiru,
In my opinion, the best way is to ask your client to give a Power of Attorney( may be notarised ) in his immediate family member's name .( may be his wife .. ) for his investments and then let them make the investments accordingly.
This way he would get over the signature issue, once and for all.
Regards,
K V Balaji
Certified Financial Planner,
116 Gokhale Plaza
Station Road, Chinchwad , Pune 411 033
Tel: 0091-020-27352281,46752370
Mob: 9890600234,9370935720
Mr. Thirumurugan,
Is your client living alone? Does he not have anybody to take care?
If so why he wants to Invest?
ATUL DESAI
9825420038
He can do thru POA
venkatesh dharmalingam
venkatesh_dm@yahoo.com
change sign .do it easy as possible as. like only one line or word as he conviniat.
pinal paatel
pinalinvestmart@yahoo.co.in
Dear friend,
You can alter the signature mode in the bank of your client to Thumb impression mode and he can easily transact the business via cheque with Thumb impression. But regarding investments, you should include his/her spouse as jointee (e or s ), so that at the time of switches/redemptions you can get the signature of the second person and transact
yours,.
L. ASHOK
Investment Consultant
ARN-14532
RAM INVESTMENTS
50-A & B, New Agraharam,
Palani Road, Dindigul - 624 003
Phone: +91 451 2430562
Mobile: +91 98421 01574
E-mail:- raminvestdgl@yahoo.com
Dear Thiru
In my opinion you may ask your client to appoint one POA holder
who may be his close relatives and who can sign and invest on his behalf.
Trust this clarifies.
Regards
Prasanna
ARN35875
9840910299
He can do thru POA
venkatesh dharmalingam
venkatesh_dm@yahoo.com
change sign .do it easy as possible as. like only one line or word as he conviniat.
pinal paatel
pinalinvestmart@yahoo.co.in
Ask him to give POA to some one reliable and use POA holder signature all the time.
Kalyanaraman
kalyans3@gmail.com
Dear J.C Thirumurugam,
Seen your problem and noted the same.
Please make a Registered Power of Attorney in the name of his wife or children and give an attested copy of the same with each and every application. This is the best solution.
With Regards & Thanks.
V. KASINATHAN,
Cell: 98427 10875,
Salem.
yOUR PROBLEM CAN BE SOLVED , BY TAKING A LEGAL GUARDIANSHIP OR A POWER OFATTORNEY WITH HIS THUMB IMPRESSION . ONE CAN DO ALL HIS ACTS. ON HIS BEHALF PROVIDED HE IS MENTALLY OK. ANY CLARIFICATION YOU MAY CALL ME I HAVE COME ACCROSS SUCH SITUATIONS, HIS PARENTS OR BROTHERS OR SISTERS WITH WHOM HE HAS COFIDENCE CAN BE HIS LEGAL GUARDIAN.
SURESH@YOURSERVICE
mn_suresh@vsnl.net
Dear Sir, Even though the process of purchase of units done through online, any organisation/ institution for that matter requires physical application form immediately followed by online application. This is inevitable. The only solution is that the investment shall be made in the name of the spouse /children and the person whose signature differes every now and then shall be a nominee. Or a joint account shall be opened in the bank for issue of cheques/realisation of the cheques when the problem shall be reduced to some extent.
Ys P. Venkatasubramanian
ARN 2164
Dear Mr.Thirumurugan,
1. Your client's signature may be get atteseted by his banker at one time.
2. He may give power of attorney (Registered) to his spouse or closely held to him to operate his bank account as well to his investments under his instructions.
HAVE A GOOD DAY
Thanks & Regards
A.KADIRVEL
+91-9444387101
if it will suit he can make all investments in his wifes name maintaining a joint a/c.
Attesting signatures each time is difficult. Affixing thumb impressions will require 2 witnesses each time. about online i am not clear .
sincerely
HSR
Sankara raman
hsrkalyani@yahoo.com
Hello
Signature differs - customer facing problem in offering uniform signature
Normally this type of problem may come in normal course of business.
As a retd bank manager, I Suggest the following methods. Let him choose a best suits him.
1) Let him trust his spouse first and then operate through her with confidence
2) Open a trading account run by a trader, entrust the responsibility to him.
3) Give a PA to a close trust worthy criend or relative and conduct the operation through them.
Maniyan
SUBRAMANIYAN THARUVAI NARAYANAN
tnsmani@gmail.com
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