When does the bank require the funds in the customer’s account to block for the ASBA payment option?

The funds must be present and clear in the customer’s bank account at the time of submitting the ASBA application. When the application is processed by the SCSB, the required bid amount is immediately blocked (a lien is placed) in the account. The funds must remain blocked and available until the final allotment process is complete. If the investor attempts to apply without sufficient funds, the SCSB will reject the application.