Comment on Zerodha-Fund withdrawal from Trading account

Srinivasan M commented on 04 Feb 2016, 07:40 PM

Warning this could be long.
Thanks for your prompt response as always. Today Iam happy, coz I didn’t face any major problem
while placing withdrawal request(of course minor errors occurred on Funds page load but on
repeated try page loaded alright). I was actually furious day b4 yesterday(my 1st withdrwal @
Zerodha) and yesterday(2nd one @ zerodha). Would you believe I tried for 1hour on both these
days to place withdrawal request. In fact day b4 yesterday I tried at 4 pm for 30 mins after
market closed. There was problem on funds page load. Then after 2 hours from 7 pm tried and
tried, some how by fluke my withdrawal went through. Same goes for yesterday also. Today is a
huge relief for me(I anticipated something worse). I do not ask you for flashy online features
from Zerodha. But just try to keep the basic things like funds deposit/withdrawal process robust
everytime. Consistency in these 2 things is utter minimum. I have already written to you about
fund deposit delays. Now Iam writing to you on withdrawals also. To compare Zerodha with
sharekhan, those guys charge twice of what you do for delivery trades. But their fund deposit
and withdrawals were extremely robust. Very rarely I faced problems in fund deposit but
withdrawals always went through ok. Occasional withdrawal errors occurred only on Saturdays,
which I feel was kind of deliberate/lazy to go home half day and not allowing withdrawals. Mon-
Fri withdrawals were 100% successful, no need to make phone calls etc, everything worked online.
Infact I used only their website not trade tiger, still it was extremely robust. Coming from
there, I expect some consistency in your fund withdrawal service in future. Also I see ledger
entries being passed between 5pm and 7pm for trades done on a day, could also hamper page load of ledger and funds page of back office during these times(5to7pm). So if you can announce like all ledger entries for trades done on a day, will be passed before 7 pm, hence clients can freely place withdrawals without any failure after 7 pm, would be very helpful for us. I also have a query here – if I place withdrawal request at 5 pm for Rs 15000(funds screen allowed this amount to be placed) and new ledger entries for trades done on that day are passed at 6:30pm, and now withdrawal amount is reduced to 14500/-, what will happen to the request already placed by me at 5pm(and not corrected before 7:30pm) when it is processed at 7:30pm?

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