Comment on Introducing Balance - Clever ways to save

Balance commented on 08 May 2017, 08:02 PM

Hi George

We understand your concerns and they are quite natural. When Balance generated your first save card – Balance captured an intent from you to save. Accordingly Balance placed an order via Zerodha Coin, with your Kite account as the funding source. The order is queued for processing as per the cut off time for trading days which is 1:30 PM and not debited instantly. So if any debits are to happen, they would happen at 1:30 PM on the appropriate trading day. The gap between these two transactions – also offers you a window to top up your Kite account in case of insufficient funds. In case you do not have sufficient funds at the cut off time- the transaction would be canceled automatically.

The same logic is also applicable on withdrawals- as mentioned earlier the account and goal on Balance capture intent- which turns into a real save/investment post processing- only then can you conduct a withdrawal.

Hope this helps. Do write in to us @ support[@]balance.tech

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