Zerodha-Fund withdrawal from Trading account
Withdrawing funds from your trading account is pretty simple. Please note all the fund requests have to placed by you online, as we do not accept offline requests.
Please follow the simple steps mentioned below for withdrawing funds from your account :-
Step 1: Login to the Backoffice – https://q.zerodha.com/
When you click on q.zerodha.com the following window will appear, where you can enter your client ID and password. Your client ID is the same as your Trading login ID (2 alphabets followed by 4 numbers. For example – DN0005)
If you don’t remember your password, you can click on Forgot Password and get a new password.
Step 2: Once logged in click on Funds
Step 3: Follow the steps below to place your withdrawal request:
Once the withdrawal request is processed from our end, check your ledger balance in Q to know the status of your withdrawal request
IMPORTANT POLICIES ABOUT FUND WITHDRAWAL:
1. We process withdrawal requests Monday through Friday
- For Equity at 8:30 PM in the evening
- For Commodity at 9:00 AM in the morning
What this means is that if you want to withdraw funds from your Equity trading account, you have to place the request before 7:30 PM, otherwise it will be processed only on the next working day. Similarly with Commodity, you have to place the request before 9:00 AM in the morning.
Unlike some stock broking firms which are banks (IciciDirect, Kotak, etc.) we are not and hence the fund withdrawal is not as seamless as it is with them.
2. Time taken for funds to reach your bank account
We at Zerodha bank with HDFC Bank, so if your bank account is with HDFC, the fund withdrawal should ideally happen within the next 3 to 4 hours from when we process (time mentioned in Point 1) as it is an intra-bank transfer. If your account is with any other bank then we upload the details for fund transfers using NEFT/RTGS. This NEFT/RTGS transfer is processed first thing the next day morning by the bank and will be in your bank account before the next day evening.
As a policy we say it will take 24 hours from when we process the withdrawal request, but please do understand that once processed the time taken is not really in our hands, it then depends on the time taken by NEFT/RTGS.
Note: If you put a fund withdrawal request after Friday 9 AM for Commodities and Friday 7:30 PM for Equtiy, the request will be processed only on Monday.
3. Reasons for which a fund transfer could be delayed:
- The third Friday of the month is the expiry of global indices, on such days we receive the trade files from the exchange only late in the night as the settlement price depends on the US market opening price. On these days we process the equity fund withdrawal request on Saturday morning.
- There are times when exchange trade files could reach us late and on all such occasions we process the fund withdrawal requests only on the next morning.
Hopefully this clarifies all queries on Fund withdrawals. If I have missed out any do ask me at the end of the blog.