Same day fund withdrawals & update on quarterly settlements
Introducing: Same-day fund withdrawals
Now withdraw funds from your Zerodha account to your bank account on the same day, any day of the week! The RBI recently published this notification instructing banks to make the NEFT payments system available 24/7 from December 16. With round-the-clock NEFT availability from December 16, you will receive funds in your bank account on the same day irrespective of what bank you hold an account with. Also, since NEFT is available on all days of the week and holidays, you needn’t wait until Monday for withdrawal requests placed on weekends any more. We’ll be working on weekends and holidays to process these requests so you get credit on the same day.
We currently process all fund withdrawal requests once, at the end of the day, after settling all trades and debiting charges. The fund withdrawals are then submitted to our bank to be processed using NEFT. Since we use HDFC Bank, our clients who also have HDFC receive funds instantly as it is an intra-bank transfer. All fund withdrawals to other banks typically get credited the next working day in the morning. This was due to the restriction of NEFT availability being only between 8 AM and 7 PM on weekdays and on 1st, 3rd, and 5th Saturdays of the month. Starting December 16, this will change, and you’ll receive the credit of funds on the same day (contingent to RBI not extending the deadline and HDFC Bank being ready with this change).
Change to quarterly settlements
SEBI requires brokers to send back unutilized client funds from trading accounts to the clients’ bank accounts at least once every quarter. Earlier, when quarterly settlements were due, funds placed for withdrawal would be credited to client bank accounts after the market opening (due to the aforementioned NEFT timings), which would have to be transferred back to take a trade, hindering trades at market opening and sometimes until late noon. This was a significant headache for active traders.
For clients who didn’t want their unutilised money sent back to their bank accounts, we had offered an option to invest in liquid funds for one day in a quarter. Liquid funds are fixed income instruments, that would yield clients interest returns for the day.
While this was within the rules and regulations as clients explicitly instructed us to invest in liquid funds once a quarter by logging into our platform, we were advised by the exchanges to rethink this process. With the new 24×7 NEFT availability, the delay in funds being credited and deposited back is no longer an issue or an interruption to trading. Thus, we are revoking the option that allowed clients to opt-in for investing in liquid funds instead of fund settlement to bank Accounts. This will only affect a few thousand from our 1.8 million clients who had chosen this option.
Coming soon: Instant fund withdrawals
And finally, you will soon be able to withdraw up to Rs: 50,000 instantly to your bank account. We are currently testing this and hope to make an announcement soon.
Update – December 16:
The banks are awaiting more clarity from RBI on the implementation of 24×7 NEFT. You’ll start receiving the credit of your fund withdrawals on the same day post the implementation. We’ll also start processing withdrawals on Saturdays and Sundays once this is live.
Happy trading,
Team Zerodha
India's largest retail brokerage
That’s Amazing !!!
WOW, That is pretty cool now 🙂
Do you how ❓ the allotment of IPO will happen on what basic.
It will allotted by using random selection as there are too much subscribers…
Means it doeanot depend on the 1st subsciption Or early sjbscription.
Zerodha should credit our ledger on the settlement date if i sell a share on monday settlement is on wednesday, so i should get credit of my fund in my BANK ACCOUNT ON WEDNESDAY ITSELF BY EVENING IS THE JUST AND FAIR, AND IF FUND NOT RECEIVED ON WEDNESDAY SOMEONE ELSE IS EARNING ON MY MONEY FOR THE SAID HOURS AND DAYS IS UNFAIR TRADE PRACTICES. ************** STOP WASTAGES. SWITCH OFF LIGHTS, FANS, AND AIRCONDITIONS WHEN NOT IN OFFICE{GOVERNMENT AND PRIVATE OFFICE STAFF REDUCE COST.}
What an idea sir jii … Too good !!!
I truly agree wid u sir , this should be implement to stop westing our time
Excellent
Hi Esmail, this is exactly what this change does. As we’ve explained in the post above, we are now able to transfer funds to your bank account on the same day owing to 24×7 NEFT availability.
Yes why can’t same day withdrawal amount reflecting .. you are taking 3-4 days .. if any one need instant fund by eod what are the options available with you .. make the necessary changes done .. this bull shit
I’m very fed up with this service it’s taking more time
Hey Pankaj, we’re currently testing the instant withdrawal process. Should be live soon.
In this era you allow withdrawal of funds in 3 working days. Is it a sad state of affairs.
Hi, we’re working on instant fund withdrawals and are closer to launching this. We’ll keep you posted 🙂
Any updates on this ? It’s been 3+ years since you mentioned instant withdrawals. It can’t take this long to implement this feature?
It’s very nice
Great..
Food job
Nice…….
Wo it is great…it was missing
only hdfc Bank same day other banks one day will take time to transfer
As explained in the post above Prashanth, the withdrawals will hit your bank account on the same day for any bank account, thanks to RBI making NEFT available 24×7.
Dear Matti, Now we are towards end of April 2020, I don’t see my funds hitting my bank account on the same day.Yes , I get your SMS on the same day but not the money.
Zerodha is climbing several mile stones continuously. Hence, they are so super working hard always. Keep it up. Awasome.
A big thank you
Good news because after sale of shares, investor needs money at the earliest
Brokers think peoples are jockers.
what they said same day payout request will be credited to customer bank account.
yesterday i made a payout at 3:30pm now is morning 7:00 am still not credited to my bank account.exept zerodha other brokers crediting payout request 6:00pm same day.
trading hour closes at 3:30 pm zerodha people processing payout request at night 9:30 pm.if it credit at 10:00pm what is the use.
in medical emergency or any other emergency our amount is totally waste.
zerodha people gave one more statement they checking instant payout request credit.
dear zerodha first credit same day payout request than think INSTANT.
for PAYIN they using IMPS for payout they using NEFT what a joke.
for our money we has to wait one day.
24×7 payouts require the bank to enable this on the corporate banking portal, which hasn’t happened yet. This is why you may receive funds the next day in case of non-HDFC Bank accounts. We’ve updated the post to say so. Even when you pay-in using the payment gateway, we actually receive funds on T+1. However, since we have confirmation of the transfer, we give you credit immediately.
Why Still not implemented ??
Hey Praveen, the banks haven’t made 27×7 NEFT available on the corporate portal we use to transact yet. As of now, this is only available on the retail netbanking portal. Will go live once the banks make this possible.
when will the bank make NEFT available 24 * 7 for Zerodha.
Checking after one month… any update or any new date?
WOOOWW GRT
Nice
Awesome
very good service
Thanks a lot
This is great!! now i can manage my daily expenses from it whenever required 🙂
Hey, rohit i think I know you.. r u from kolhapur.
no dear..i m from mumbai,maharashtra.
now living in kochi.kerala
fb : Rohit Bhadale
Superb !!
Good initiative
GOOD
WOW Thank you so much…
NICE
Good
Great move by Zerodha! Loved this news. Now I won’t have to wait to get the funds……..Love you Zerodha
Happy to know
superb
Very nice to hear. This will be a useful value added service. Thank you,
Is it possible to transfer money from commodities account to equity account with withdrawal?
Available cash was in my account more than 50000 but at the time of withdrawal it was showing -15000. Please suggest,
Because of your holdings
Humour at 200%level🤣
I think you did shares transaction yesterday with an amount of 35000, after two days of transaction you can withdraw this amount.
This will be because you’ll have transacted on the same day. This gets updated at the end of the day.
THANK YOU SIR FOR THIS EFFORT
That’s great!
Congratulations
good
Thank you…So Much..Team Zerodha
Good Always caring customers zerodha the best
Are yaar. Its from sebi. Not zerodha
Are yaar it’s RBI. Not sebi
😂
good very good now Zerodha
Wooooow Grt….
That’s nice
That’s awesome
Craazy
Great decision team zerodha 👍
Awesome News🎉!!! #Team Zerodha
Great News!
We trust Zerodha!
Nice information. It means I can request the payout on saturday/sunday/any holiday morning or anytime , and get the fund credited same day , as if it is an IMPS ?
Yes, that’s right.
Supppeerr
Awesome 😍
Thats why zerodha is best all over india. Thanks team zerodha
Zerodha…. An ultimate Broking Firm…!! love to trade with Zerodha 🌹
GREAT … Can earn and get a drink same day !
ok
Great news
Wow! Great news…
Hi team Zerodha!
Great news!
Cheers!
awesome move
Great, nice move by sebi
This is great news !!!
Very good service
Great move by Zerodha
Do we have to make a request before 7.30 or 8 pm?
Great news Zerodha…l
thats is good to hear , But I how about simplifying your internal process ?
1. I have two accounts – why on earth you make one primary and secondary
2. I want to withdraw to second account – your process needs to sign a physical copy and send it post ( how ridiculous it is even in the year 2019 !!)
you are now a grown up adult not a startup anymore and we customers made you largest broker in india . we do expect few things in line.
Because regulations.
That’s just how regulations are, Siva. Nithin has explained this in detail here: https://tradingqna.com/t/for-primary-bank-change-a-hard-copy-of-change-request-form-along-with-relevant-bank-statement-cancelled-cheque-is-required-to-be-provided-why-so/14524
Awesome
Relief
Awesome
Wow very nice
Wow..great news..!!
Do you how ❓ the allotment of IPO will happen on what basic.
Good to hear that!! finally some nice reforms by RBI.
Bahut achaa
Most expected change….
Good
Thank you soo much
Fantastic!!!!
Wow nice
Great news. Thanks for your support
What is minimum amount. which can withdraw
No minimum amount criteria. You can withdraw whatever amount you have after charges and loss
Good 👍
Nice syestem
This is a very good move indeed.
THIS IS GREAT
THAT IS A VERY NICE FEATURE….THANKS A LOT
Really????
Great !!
That’s Good news. 👍
I am struggling to transfer fund to zerodha zemat account to bank account
Thank’s
Good and happy for same day withdrawal process
IS THERE ANY OPTION IN ZERODHA, UNTILL I REQUEST FOR FUND TRANSFER TO MY A/C THE FUND SHOULD NOT BE TRANSFERED( SBI SEC CAP HAVE THIS FACILITY)
Very good move,
Feeling more convenient
Superb news !!
Love zerodha !!! Love modi ji
Great News…. I loved Zerodha
Good initiative by RBI
Great !!!!! Nice service
awesome//////
That is really good and helpful
This is reduce my life struggle
Great move .. welcome one
Simply super
good
VeryGood… timely action..
Very good initiative
Good going zerodha…👍 Nitin ji aur tarakki kare..
Very good service.
Great news!
awesome
Great efforts Always . …….thank you team zerodha .
Great !
Awesome thing for us!🛍️🛍️
Does it holds good for commodity as well.. as of now for commodity account i have to place withdrawal request before 9 am, to get the money on same day.
Great step……. it will immensely help all traders at zerodha………
Good step from RBI.
Good news
Good Zerodha is Best
But Make Create a ( BO ) Order in Commodity
Hi Team,
Welcome the Move. Is it possible to credit the respective bank account in the same way like that of UPI transaction happens, where we will be adding funds to Zerodha. ?
Thanks,
Jagadish Kolanu.
Nice initiative ,
After some crappy events we have seen recently , such a step will increase your credibility among retail traders/investors.
Nice cool
dear sir ji fut me trade nahi kar pa rahe hai kripaya comodity ke liye mera accounte activet karen
How much it take to add banifisary
Very nice to hear this thanks to RBI
What’s the Zerodha deadline now to submit withdrawal request so that user gets money credited to his/her account on the same calendar day?
yepeeeee.. kudos to Zerodha team… good initiative.. this will encourage good business for both
love
r
Its really good change by RBI. Now no more waiting… Thanks for info zerodha…
Can i rise my Amount till 10000 Crore rupees in Zerodha ？
Great initiative by RBI
😮 cool thanks lot RBI
Great
Thank u
Very good
Please provide single margin facility for both equity and commodity. Also provide BO orders for commodity
Great
If I has transferred funds to zerodha today (say 10 Lakhs) and wishes to re-transfer in the same day, is it possible ?
That’s the Great Initiative……. Thank U
Zerodha
This is good but when
1. Will common ledger for equity and commodities be implemented
2. The ledger is currently updated on t+2 basis even for future trades which does not involve demat….Why not start a t0 (same day) update of ledger like few brokers like SAS online do.
This will help traders more…
Great news, very helpful.
Good news of day for share market players
Great…
Is the very good disistion thanks Zerodha lot of
Rwally That’s nice job for all trader including me..
Thanks
Wow ..that Amazing.
That’s fantastic! Keep up the great work
Lightening customer service indeed!
Thanks to RBI & Zerodha as well, but one thing if zerodha uses Hdfc bank then why charge fund transfer fees for inter banking.
East or west
Zerodha is always BEST.
THANK A LOT
HDFC Bank recently had outage last week, and they didn’t even communicate with customers on 1st and 2nd day. You must provide additional banks. HDFC good bank but pretty bad in customer engagement for queries/ issues.
That’s great. Thanks for the initiative!
Very good news.
Thanx zerodha, zerodha offering all excellent features, but some times it taking time to execute trade, it also not easily providing facility of option and future trading to new customers
Next level ###useful
Why I can’t buy more than 20000 share in one single order.please solve this problem.immidiatly
Excellent !!!! Thankful to Zerodha & RBI
nice 😀
Hi Nithin,
Please introduce a fixed brokerage plans monthly/quarterly/yearly.
Lovely initiative from RBI, it will increase liquidity and hassle free and thanks to Zerodha team for intending to implement this rule. Zerodha continuously doing changes for convenience of its customers. Thanks
This will improve the confidence of the investors in the system and facilitate to manage the funds in case of urgency.
i was thinking some days ago about this change, and RBI read my mind thought. Very smart.
Its very good step for the traders…
Thanks RBI And Thanks Zerodha.
Thanks a lot
When can we place a request for the funds after selling in the cash segment? Is it on the day or T+2 days? More over say I have a balance of Rs. 50,000/- against which I have sold shares for Rs. 25,000 and purchased shares for say Rs. 10,000/- there by giving me a net balance of 50k-25k+10k=35 K, how much can be withdrawn? From my experience my cash with you is first used up and then the sale proceeds are considered on T+2 days, kindly clarify this point.
Secondly ARE there any charges when we transfer funds to our trading account [FROM MY BANK to the zerodha trading account] directly through the portal now?
Thanks
Zerodha should credit our ledger on the settlement date if i sell a share on monday settlement is on wednesday, so i should get credit of my fund in my BANK ACCOUNT ON WEDNESDAY ITSELF BY EVENING IS THE JUST AND FAIR, AND IF FUND NOT RECEIVED ON WEDNESDAY SOMEONE ELSE IS EARNING ON MY/OUR MONEY FOR THE SAID HOURS AND DAYS IS UNFAIR TRADE PRACTICES. ************** STOP WASTAGES. SWITCH OFF LIGHTS, FANS, AND AIRCONDITIONS WHEN NOT IN OFFICE{GOVERNMENT AND PRIVATE OFFICE STAFF REDUCE COST.}
That’s awesome.
nice step…..
WOW 🙂
wonderfull
Good news amazing
This is really helpful
Great . thanks to RBI.
That’s great!
Good decision
Its Great
IT WILL BE GREAT ONLY WHEN YOU AND I GET YOUR AND MY FUNDS ON THE SETTLEMENT DAY ITSELF OR SOMEONE ELSE IS EARNING ON YOUR AND MY FUNDS FOR HOURLYS AND DAILY BASIS. ********************************* STOP WASTAGES. SWITCH OFF LIGHTS, FANS, AND AIRCONDITIONS WHEN NOT IN OFFICE{GOVERNMENT AND PRIVATE OFFICE STAFF REDUCE COST.}
Awesome and Marvelous.
Love you Zerodha but dont break our trust on you.
All ready zerodha service is very good. This one next move for Rbi
Wah nice
yes iam happy for this news zerodha
Good move!!…..I suppose it should work on saturday, Sunday & public holidays as well??
This is certainly a great move.
Great !!!
Great news…
good
Good initiative taken by RBI and heartiest thanks to zerodha for sharing this good news.
Pls make your software efficient, when heavy trade is there, some times trade is not executing,
Offer o & f trading easily to new customers, it is became hectic
I use HDFC. I never got my money on the same day forget instant withdrawals.
Same
Good decision taken by RBI and Brokers must follow these guidelines beneficial for traders .
Thanks RBI
That’s amazing
now we are free birds on financial status
This is Amazing! and very helpful to the zerodha account holders and Tanks to zerodha.
Very nice
Zerodha is number one Top Broker Service provider in India and From last few months i think to rise my Fund near 2,50,000 Crore rupees in my Zetodha account but Little bit Worried but day by day Zerodha grow step by step and Give best services so let see next few months more about services and team help if everything will be great then i will rise my fund 2,50,000 Crore Rupees in india with Zerodha in coming months…
Wooooooooo
It’s a great good news for all thank a looooooot
Is there any minimum amount for pay out and charges for NEFT ? This service will be highly beneficial for all clients.
Its grt to nw that
Very good zerodha…!!😊
Thanks Zerodha…
Can i send withdrawal request on Saturday and Sunday also ?
Zerodha is climbing to newer heights. Please continue this wonderfully clean and pure-honest services to your clients forever Sirs… I read some bad reports online- about FTConline broker taking away a part of the clients funds without giving any proper reasons, when they make their 1st deposits.
Zerodha should credit our ledger on the settlement date if i sell a share on monday settlement is on wednesday, so i should get credit of my fund in my BANK ACCOUNT ON WEDNESDAY ITSELF BY EVENING IS THE JUST AND FAIR, AND IF FUND NOT RECEIVED ON WEDNESDAY SOMEONE ELSE IS EARNING ON MY MONEY FOR THE SAID HOURS AND DAYS. STOP WASTAGES. SWITCH OFF LIGHTS, FANS, AND AIRCONDITIONS WHEN NOT IN OFFICE{GOVERNMENT AND PRIVATE OFFICE STAFF REDUCE COST.}
Excatly before which time we have to place withdraw request to get same day payment?????
Since you have insta fund transfer arrangement with IDFCFirst bank, can you also make insta fund transfer back to IDFCFirst bank (within the fund withdrawal limits)?
Why doesn’t Zerodha use IMPS for withdrawals?
Zerodha should credit our ledger on the settlement date if i sell a share on monday settlement is on wednesday, so i should get credit of my fund in my BANK ACCOUNT ON WEDNESDAY ITSELF BY EVENING IS THE JUST AND FAIR, AND IF FUND NOT RECEIVED ON WEDNESDAY SOMEONE ELSE IS EARNING ON MY MONEY FOR THE SAID HOURS AND DAYS IS UNFAIR TRADE PRACTICES. ************** STOP WASTAGES. SWITCH OFF LIGHTS, FANS, AND AIRCONDITIONS WHEN NOT IN OFFICE{GOVERNMENT AND PRIVATE OFFICE STAFF REDUCE COST.}
how much time, i mean hours, would take to available in our account?
If we sell positional stock, That released amount can we transfer to bank account on same day?
Great work team.
I have account with HDFC but still Zerodha takes one working day.
Same here
Very very good zerodha
Thanks Team Zerodha
Wowww, Super
Zerodha growing day by day with lots of blessings and top Honest services, i will give new 5 Crore peoples account to Zerodha in coming 5 years…Also will rise my personal fund 2,50,000 Crore Rupees in coming few months in India with Zerodha…
Nice to know. Thanks to RBI.
what about the placing withdrawal timings
Zerodha growing day by day with lots of blessings and top Honest services, i will give new 5 Crore peoples account to Zerodha in coming 5 years…Zerodha Provide number one Top Honest And Very helpfull services in India…Lots Of Blessings for Zerodha Group
ALL DAYS HAVE FUN LETS enjoy WITH zR0dha
It’s a 24 hour world and this should have happened a long time ago. Better late than never…..
Fantastic zerodha…
Love you
Great!!!!!!
Thats the reason why Zerodha is the best brokerage house… you people introduce features when others are even not thinking about it….
thats great and I wish it will continue its tradition….
This is great feature. Thank you.
मैं यह चाहता हूं जीरोधा डिमैट अकाउंट से जो मैं पैसा विड्रोल करना चाहता हूं मेरे अकाउंट में वह सेम डे हो जाए यह मेरी आपसे रिक्वेस्ट है
Wow great!
It’s very good decision. Because those people who can not able to manage they money problems, that people are now do it.
Thanks to RBI for this fantastic facility…
This decision was awesome for all investors for short term
Good news . Thanks to RBI
So if i place withdraw after trading close 3.30 pm so by when we will get funds into bank.. wt is the cut of time to place withdraw funds to get on same day
It’s really need Important update.
I already have HDFC Bank Account still I use to get next day transfer.
Same here not sure why
good news
This is looks good for our need
Really it will be heplfull.
Amazing!!!!!!!!!!
Its nice move but only if Zerodah dont reject your request for withdrawal without any reason. It seems you are trying to be most Honest broker on earth. Which may not be true as far as their technical Glitches are concerned.
On T+2 Day, we don’t see updated amount before Payout deadline, so effectively we have to wait for one more day to submit payout request. I hope you will work out on this issue too so that user can get the amount on T+2 Day itself not on T+3 day.
This article says there will be 24*7 payout processing. So what deadline are you talking about?
That’s good news.
Ahead of the competition, ALWAYS.
Hi Zerodha Team……
Good News…..I have been awaiting ….such a long time.
Its Very Good News !!
Congrats to Zerodha.
Thanks to RBI & Zerodha.
It’s Amazing for All …
Ohh Great news to traders 👍
Does it mean after 8.30 pm on same day?
Good…..
really thanks for quick process payment .ow really happy
Woww Good News……………..
In case of coin, Is this possible to have automatic fund transfer to linked bank account whenerver we make a redemption request?
At present, on redemption of MF the amount is credited to zerodha wallet and we need to manually request for fund transfer to bank. I am looking for option to automatically transfer of fund to bank whenever any redemption is done.
Pls advise.
THANKS TO RBI & ZERODHA ….
WOW superb…
very good
test
Its good decisions for fast working
finally was waiting for it to be released..
Great
A very good way to withdraw funds is to be legalized, sir.
Amazing!!! Great work guys!
Zerodha has one of the slowest process of PayOut in India among all brokers.
Here are some instances:
1) Zerodha does not do Payout even on working Saturday’s. Hence a PayOut which could have been made on Friday and received on Saturday usually ends up getting received on Tuesday (4 days of money being lying with you and customer paying interest to bank for those 4 days)
2) Zerodha does not work on other Holidays even though it can receive money by UPI. All UPI transactions work 24*7, all year. Again the customer again loses
3) Other thing that Zerodha executives says are “our processes does not allow quicker payout”. This is easy to say since money does not belong to Zerodha. The customer has to pay interest to bank if he has borrowed money
4) You can even cancel a complete PayOut if there are DP charges and there is difference of 1 Paisa. You leave customer to manually calculate DP charges in order to make his PayOut. Even if there is difference of 1 paisa, you immediately cancel PayOut to customer. Zerodha makes NO attempt to calculate DP charges internally, subtract it from customer’s amount and make the PayOut for the remaining amount.
5) The onus of ‘all calculations’ (such as DP Charges, Day’s Buying, Bank Transfer etc) are all dependent on ‘the customer’. He has to be CA to make these calculations to get his PayOut done, forget that he even has to do trading. If he make mistake of 1 paisa, his complete PayOut is canceled by Zerodha.
We have raised this issue many times in last one year but nothing has happened. You have kept our money for longer duration. With Karvy misusing customer funds, your practice of keeping money with you for longer duration is NOT good.
As such, we have trusted you to keep our securities. You could atleast make PayOut faster, keep your process cleaner and customer life easier.
Regards,
Newton
Helpful for traders
Great News, THANK YOU.
Great Step taken by RBI very helpful for retail traders…
Why dont u start imps facility for payment upto 2 lakh rupees so that we get our money instantly , i think 95 percent users withdraw amount less than 2 lakh rupees and imps allows instant payout upto 2 lakhs
Truly it’s a Great change and through this kind of facility we can even maintain our average bank balance at a High amount.
Keep it Up..
Great Going..
Super
Zeordha ke aandh bhakt. Zeordha has done nothing it’s a mandate for banks that’s why it’s possible now.
It’s really good
Good move.
Auto payout of funds as practised by other brokers like Angel should be facilitated. It will be great for Zerodha
That is amazing change…..Thanks a lot Zerodha team !!!!
Is there a capping of Rs.50000/- per day for withdrawal?
Hi Vijay. No, you can withdraw as much as you want from your account. The Rs.50k cap is only for instant withdrawals. You can still use the regular withdrawal option to withdraw funds.
Good Initiative by ZERO TEAM. God Bless Zerodha Team .
bahut acche !! dhanyavad aap ko.
Can we inter transfer from commodities -equity vice versa
Good move by Zerodha Keep going on right track with millions of customer smile for next steps…
Ohh wow super wark
Jalso jalso ho
So nice
When it will started
I will be so happy
Thanks to zerodha and RBI
MCX Bracket Order kob se suru hoga ??????????
Zerodha has contract with idfc first bank…and its give 7% interest on zerodha demat account unused money….is that true??
In afraid not. However, you can open an IFDC savings account, link it with your Zerodha account to make it a 3-in-1 account for seamless fund transfers and enjoy a 7 percent interest rate on the funds in your IFDC savings account subject to the bank’s terms.
this withdrawal system for both equity and commodity ???
Yes
good news
Omkar kaushik says That s amazing
wow…..that’s great.
This platform is the most friendly platform to trade for a new comer..
Nice
That’s Great! Now slowly provide an option through which we can directly make payments using money in our zerodha account. Things like book tickets, online shopping etc. Not sure how to implement it technically but I’m sure you guys will find a way out.
Legally not possible
While it would be great to offer that, it isn’t really possible in the current regulatory framework.
I like this payment system on same day,pay out procedure is easy and shortless,i am happy that instant money transfer,as like tickets book,. Thanks
“SEBI requires brokers to send back unutilized client funds from trading accounts to the clients’ bank accounts at least once every quarter.”
Can Active Traders have an option to choose when this unutilized fund is send back to our bank account? In other words, if we have such option, we can plan our trading activities and can make 2-3 days window available to zerodha so that zerodha can send back our so-called unutilized funds to our bank accounts.
Make sense?
At present, Zerodha randomly and arbitrarily performs this process without considering any adverse impact for traders. Active traders may get margin call and may suffer margin closeout if they have open positions and market decides to go against their positions.
Zerodha claims to have block extra margin amount but that may not be enough. And if such margin closeout does happen to you, you are the sole victim of the process which was there just to protect you.
I hope zerodha understands our pain and work something out to help reduce our pain.
thanks.
The settlement happens on a rolling quarter basis. We don’t really have much control over this, the way regulation is framed. I’m sure you appreciate that this is in place to safeguard your interests. If you’re an active trader, you’ll have utilised the funds in your account and needn’t worry about settlement to your bank account.
Thank You Matti,
SEBI regulation requires brokers to send back unutilized client funds ,,,,,,, at least once every quarter
How does SEBI define unutilized fund? No one is clear on definition. Zerodha defines unutilized fund as any amount available account in excess of blocked margin for all holding positions on the randomly and arbitrarily chosen specific day by its computer system. (because its staff or trader will never know when his/her turns is going to come) So in other words even if sum of all daily blocked margin amount for the quarter is 50 times your trading account balance, but if you have any excess amount on chosen day, amount will be sent back.
Consider another scenario. You are active trader and you actively buy and sell almost every day.. If your sum of all your daily pay-in and pay-out even for a month is greater than 10 times of your account balance, what do you think is your unutilized fund? As per zerodha, any excess amount on chosen day. period.
active or not, everyone has to worry about settlement to bank account. Intention is good. Implementation is gray..
I wish to start soon SWP / STP soon.
Great Change,
It will bring more flexibility and will help investors to maintain healthy free cash in demat account,
Great going Zerodha
nice idea..😍
NEFT is upto 2 Lacs only. Can we make multiple NEFT requests or Is there a daily limit?
You can make a withdrawal request for any amount. If it is too large an amount for NEFT, we use RTGS for the transfer.
This is a great news, i thought why i am not getting my funds immediately, now this is a right time. Thanks Zerodha. That’s why i referred to many times to all all friends.
Please change my account from ICICI Bank to HDFC Bank
The process to change your primary bank account is explained here.
In light of recent issues with HDFC bank, suggest to associate with at least 1 other major bank to diversify your operational risk..
Excellent, really appreciated. Zerodha is trusty platform.
good job indeed!
Please give one example with (future trade)understand same day withdraw.
With profit and lose.
Let say you had 50k in your account and you made a profit of Rs. 5000 trading futures. The settlement of this credit of 5k happens the next day (T+1). Since this credit is not settled the same day, it’ll not be available for withdrawal until the next day. Hence, you’ll be able to withdraw only 50k in this case.
In case there was a loss of 5k, it’ll be debited from your trading account the same day. The withdrawable balance, in this case, would be 45k. Go through this support article to know more.
I think zerodha has not implement it till date. I had placed withdrawal request yesterday (monday) at 21:30 hrs. But not got fund till now. Why are u just wasting time of clients.
Same here, I placed withdrawal request yesterday but money got credited today morning. Also they say for HDFC bank fund will be credited instantly as it is intra transfer but I don’t see that happening. @Zerodha we need transparency in this issue.
Hey Dyaneshwar and Vikram. Withdrawals placed before the 8:30 PM cut-off time are processed on the same day. As the post above says, we are yet to go live with instant payouts. As for going live with crediting your bank accounts on the same night, this is something we’re working with the banks to make possible. While the RBI has mandated all banks to be live on 24×7 NEFT by 16th December, there could have been some teething issues due to the process change that the banks will now have to fix.
One more thing – we currently process all fund withdrawal requests once, at the end of the day, after settling all trades and debiting charges.
Why all the withdrawals are processed at the end of the day and not immediately when withdrawal is requested? Currently, the withdrawal placed in the morning 8:00 AM and before end of the day takes same time to be processed and this is too much delay for fund withdrawal (I am not sure if all online brokers do the same). But having withdrawal requests process immediately would be very convenient for clients!
Hello Sir,
Good morning. Has the same day withdrawal been implemented yet. Please provide us clarity on the same.
Funds withdrawals are still received next day and not on same day. When is it going live ??
Hi Malay, we’ve updated the post above talking about this. HDFC Bnak doesn’t offer 24×7 NEFT for corporate accounts yet. Will go live when they do.
What do you meant by corporate account?. Are you referring to salary account?
Ah, no. Corporate account means accounts held by companies like us. The bank offers a different portal for us to make transfers.
Please can someone clear when should we make payout/withdrawal request so that we can get back our money next day.. i made payout request yesterday before 8:30 pm at first it failed then at 10 pm i made request again and since then the status is just pending.. even though i have not traded for a day still my profit/loss amount is not added to final total.. withdrawal amount is still showing different amount..
You have to make the withdrawal request before 8:30 PM. Since yours failed and you placed it again at 10, you’ll receive funds a day later.
IF I sell shares worth Rs 10000, if I place withdrawal on the same day, does amount gets credited to my account or should i wait for 2 more days?
You’ll have to wait for 2 days for the trade to be settled before being able to withdraw.
I have placed request for withdraw on 24 th december but still not credited. where is 24*7 commitment. If ur corporate partner is not giving this service, then change the bank. why customers will suffer. RBI has announced 27*7 NEFT, why ur bank not giving this service. Please reply.
Hey Ranjit. Changing the bank isn’t all that straightforward. Additionally, this is a temporary setback, and waiting for the bank to enable this is much more feasible.
And why process fund transfer only at day end.why it cant be two or three times a days.it will be much helpful for clients. thats the bare minimum we can expect from zerodha.
We have to wait for the exchange to send us files for charges to be levied for all the trades done during the day, which is why we wait till the end of the day to process these charges before processing withdrawals.
what if no trade is done and there is ideal cash in the account.
Zerodha dont have answers for valid questions
There is no way to check if trades were done or not until the trade process.
Even after 26th december its not implemented..
When it will be implement.
I tried many times after dec 16.
Hey Kenith. We’re working with our banking partners to have this enabled ASAP. Unfortunately, at this time, 24×7 NEFT is only enabled for individual accounts like yours or mine, and not on the corporate transaction portal that the bank offers companies like Zerodha to transact.
What is RBI position on this? What directions they have given to banks on this matter? How long does HDFC Bank say it will take to facilitate this? Why don’t you use IMPS facility to payout small amount?
I dont know why people are becoming restless now about same day transfer.
Atleast zerodha informed us and will be implemented as soon as Bank system are updated.
Cheers to zerodha!!!! You still reply to everyone although they wanted you to change your Bank account too…
Other brokers are proceeding payout within few hours after the request initiated. But zerodha is processing payout request in the end of the day, which is so annoying. We wait for Monday for getting our funds in our bank’s if we have processed request for payout on second and fouth Friday of the monyh. Thats why customers are getting irritating. Please update your system.
Hey Minu, we need to wait till the end of the day to complete the trade process after we receive files from the exchange to determine the withdrawable balance before processing withdrawals.
When will the withdrawal request placed at 10 pm on saturday be processed ?
This would be processed on Monday in the evening.
Today is 20-01-2019
Same day funds withdrawal is still not implemented.
When it will be available to Zerodha customers…..
Hey Siva, 24×7 NEFT isn’t available for the corporate account we use for processing transactions by the banks. We are in touch with the banks and will go live once this is enabled.
Today is 20-01-2019
Same day funds withdrawal is still not implemented.
When it will be available to Zerodha customers…..
Hey Jitendra, 24×7 NEFT isn’t available for the corporate account we use for processing transactions by the banks. We are in touch with the banks and will go live once this is enabled.
Sir when will be the amount credited if I made payout on 2nd & 4th friday
Even HDFC transfers are not instant yet as written in the article .. I requested a payout and still to recieve
Bahut hi madarchod company hai zerodha..sab jhooth agar facility de nahi sakte to announce kyun karte hai. Zerodha mein acc matlab ..apka bal zero hona pakka hai.
Really, when you guys are going to implement instant fund withdrawal to bank, its almost two months since RBI implemented 24*7 NEFT process still you’re struggling to implement instant fund withdrawal facility to bank. We didn’t expect this type of service from you Zerodha.
Hey Muralikrishna, as the note on the top of the post says, 24×7 NEFT isn’t made available on the bank’s corporate transactions portal. We’ll go live once this happens. We are in constant touch with our banking partners to make this available at the earliest.
Isn’t it time for you to change your banking partner. First Dec. 10, you announce it. Second 16 Dec, your banking partner ask for clarification from RBI. Third, your banking partner does not have same day withdrawal …. blah blah blah. Shouldn’t you be working on the reverse chronological order? 2 months is good enough time to implement this thing unless someone wants to give lame excuses. BTW, today is 3rd Saturday, I have a placed a request yesterday before 8pm which is processed but it is not credited to account.
Your fund withdrawal process has become a joke of late. I put a request yesterday before 5 PM and yet to receive the credit even at 1 PM today. It is getting delayed for the last few months. Who would you blame for this now?
still not implemented?
Withdrawl process seems like a big cheating and scam..once the trade is settled, y are u taking that much time to process with draw? i saw withdrwal eligible amount and based on tht i tried to with draw…its failing due to no withdrwal limit..kindly implement instant/imps withdrwals..you can not hold the customers money for days saying junk reasons
Raghu, we are working on instant withdrawals. However in the meanwhile, as long as you have clear unencumbered balance available in the account, the withdrawal request would be processed.
What’s the update on this????
Request refresh of Zerodha fund transfer policy mentioned in online help guides & FAQ’s
Can you please update the Zerodha online help guides & FAQ’s to reflect the current policy of Zerodha on withdrawal of funds through NEFT/RTGS/Any other. Not sure if they are dated or current as on date. Can you please put a last updated date/ time stamp on the help guides & FAQ’s & move the dates to the current date if there are no changes.
Could you please provide the following clarifications for withdrawal of unencumbered funds from Zerodha:
1. RBI as on Dec 2019 allows for 24x7x365 NEFT transfers. Does Zerodha follow the same if a request for withdrawal of unencumbered funds is placed on the Zerodha portal?
2. What is Zerodha’s preferred method of transfer for unencumbered funds showing as available for withdrawal – NEFT or RTGS or any other ? Since RTGS is not available 24x7x365 under what conditions will you be using RTGS?
3. Are there any charges from Zerodha for withdrawal or deposit of funds using NEFT or RTGS by Zerodha?
4. Currently Zerodha customers only get a message that the request for fund withdrawal has been successfully processed. Can you add the Transfer method and reference number for the transaction because without this information the message is of little value.
1. While NEFT has been made available 27×7 on the retail netbanking portal, the corporate banking portals still follow the old timings. We’re following up with the banks to have this updated, however, this isn’t something that’s in our control.
2. We use NEFT/RTGS depending on the transaction amount. If the withdrawal is less than 2lk, it’s NEFT.
3. No.
4. The transfer reference details are emailed to you once the bank shares these details.
Nice to hear that zerodha is consistently working for better customer experience. However, I have the following concerns:
1. After reading this article I changed my primary account to my HDFC bank account. But even I place a withdrawal request before the mentioned cut off time the funds get credited in my account the next day in the morning( and not instantly as mentioned in this article). I place withdrawal request once a week and everytime it’s the same experience.
2. A couple of discount brokers are offering monthly and annual lumpsum brokerage plans. Is zerodha also planning something on similar lines? (Something like this will be highly appreciated)
3. The margin calculator for weekly option expiry for nifty, bank nifty and currencies is not available. Also for currency options the margin calculator is not available even for monthly expires. This forces me to place orders on the basis of trial and error and sometimes costs missed opportunities. A margin calculator for these segments will be really helpful.
In case this isn’t the right platform to raise these concerns kindly suggest the same!
Hey Atul.
1. As mentioned in the banner on the top of that page, this isn’t live yet because 24×7 NEFT isn’t available on the corporate banking portal.
2. No.
3. The margin for the weekly contracts is the same as monthly contracts, so you can refer to those margins. Currency option margins are available here: https://zerodha.com/margin-calculator/SPAN/
I get a message saying “the request for fund withdrawal has been successfully processed “ This message s of no use as I don’t immediately see money in my bank account.Also, this message does not have any transfer details and is of little value to me.
You did the announcement in Dec , even in April you are giving excuses.
Do you guys check with bank,RBI etc first before making announcements?
Hdfc bank is very slow in implementing new procedures. They will take atleast 1 year from the day of announcement to implement 24X7 neft .
It may/may not be a HDFC issue.HDFC is not here to defend, so we don’t know. Neft settlements happen on hourly basis.Its about Zerodha s agreement with HDFC. Why will someone want to hold money overnight in a wallet (not in an escrow account) ?
Hi Zerodha ,
Please change your daily withdrawal cutoff time from 08:30 PM to around 4:30 PM. So that everybody can get money on the same day.
Earlier your cutoff time was 06:30 PM which was atleast acceptable to people like me with bank account in HDFC.
But now your cut off time is 08:30 PM which means even hdfc bank account holders can’t get money the same day.
Will consider this.
It takes a long time to gain customers trust, but it can crash with one incident (eg Franklin).You must check all new features under discussion on several threads last several years and publish your plan/communicate. You may charge for the features but not launching them is not acceptable (ex.STP) to a customer.
Same day withdrawal still far away?? 😰 As you are using only HDFC , clients like me in disadvantage , due to acct in other banks.👎 especially during weekends and holidays.
Vinod, it is hardly practical fo ra business to have multiple bank accounts. In any case, we are working on instant withdrawals right now, should be live soon.
Hello,
Does soon means a couple of months?
Dear Matti .
Why cant Zerodha enable IMPS/RTGS facility . Maybe make NEFT free & IMPS/RTGS chargable if required . Its frustrating that money withdrawal will never happens in T+2 days , it usually becomes T+3 or T+4 days .
Doing this will make your platform more attractive & give a definite edge over your competition.
Thanks,
KP
Hi… I had requested on 16th June for withdraw money and on 18th June I have received msg for processing of fund so next day means 19th OR 20th June I have to receive fund but after so many follow ups and generated tickets I have not received the fund. There customer care executive said you will get money but on 30th June I received return fund in my commodity a/c. Then same day I again put withdrawal request and still I haven’t received any such msgs or fund.. It is so harrassing service they provide. I don’t know they are doing gambling or something.
Deepak, this would happen if your bank rejects the transfer from us. Please verify your primary bank details on Console and update them if required.
Its July 2020. is this feature still in testing phase ? I don’t see Zerodha transfer my money on Saturday/Sunday or Same Day.
other than that, Zerodha is THE BEST!
Zerodha is now crossing the limit of all delays… processing requests at 2:00 or 3:00 am in the morning. Now withdrawal requests for 4th Friday are processed on 4th Saturday morning ie customers funds are locked for 3 days which is absolutely CHEATING
No other broker delays so much.You cannot rely on zerodha for urgent fund withdrawl.
They purposely delay fund processing on Fridays and funds are never credited before Monday be it any bank
Hello Team,
Why it takes more time to withdrawal money from kite?
I have also observed that the money wit8is failed and there is no notification or reason?
As per the above statement published by Zarodha money withdrawal should complete by same day… is it happening??
Thanks
If I request withdrawal at 1 am, will my money be deposited in the bank account by 9 am
No, Sudhir. The request at 1 AM will be processed the following evening and you’ll receive the funds on the next date.
Quickbooks user needs clear display while using the software.if you are doing your daily software actives and switching to the high resolution monitor this issue has occurred you can follow this link to resolve this issue.
Almost an year now since 24/7 enabled for NEFT but still Zerodha takes its own time to credit fund back to customer. Any update on 24/7 NEFT or instant transfer?
Hello,
why zerodha has not implemented same day withdrawal yet…..? Also the net profit (realized) is not updating the same day, especially on fridays….
Why zerodha has not implemented same day withdrawal yet…..?
It is good but not sure when this is going to be functional. There is no certain date from Zerodha and it’s partnering bank HDFC
My funds were transferred to my account and I didn’t receive the next day also
So I couldn’t utilize my own funds for investment/trading which I felt very bad
Why wait so long to get your own money, I sold shares on Monday will get money in account by Friday just incase there is holiday then next Monday, i have utilized service of 4 other broker, zerodha is most complex and stubborn when come UI, Payout, order type etc. Rest charges are same. even if they can’t improve on payouts in years, you should think your money being used somewhere.
@matti what the latest update? Other brokers allowing funds withdrawal early u guys still lagging in that. Still how long for this implementation.
@matti – is there a solution to this 24*7 withdrawal system from HDFC? I can imagine your own frustration on being unable to implement this due to your banking partner but we are your customers and not HDFC’s – you need to think and act for your customers. I see this as a mindset issue where Zerodha is not deeply concerned about implementing instant withdrawals; if you truly wanted to make this happen, you would have done it by now!
I assume many of the people who complain here are those who urgently required these funds and were unable to withdraw it from their account. It is highly frustrating to see that you have funds in your account but cannot access it instantly. Instant fund withdrawal is probably a given in the age that we live in. You do so many things to better customer service, you have to take charge on this and make it happen for your customers.
I had placed the withdraw request 14-03-2021 but still the order is in pending state., But this article information not met in the reality process., Don’t trust.
Hey Dinesh, as the banner on top of the post says, this feature isn’t available right now.
When will this feature be live? or Some kind of alternative for instant withdrawal?
It is a continuous headache to see quarterly settlement amount not getting credited to my bank account despite the start of business day even at 10 AM. Either you are hand in hand with all malpractices happening with HDFC Bank or you are simply incompetent to push the banker to improve their technology support. No wonder RBI keeps penalising this bank for their incompetence. High time you listen to your customer and change your banker or we decide to search for a different broker.
Zerodha is the worst when it comes to Fund settlement. I have a saperate account in Upstox and i get the fund same day if I process the request before 8AM in the morning the money in is my account by 12:30 PM MAX !! Thats less thas than 4 hours comparing multi day time taken by Zerodha !! Seriously looking credebility day by day !!
A Very Dissappointed Customer.
Since equity proceeds are processed on a t + 2 cycle, you could start processing the withdrawal at your end a day in advance to reduce the waiting times for the end client.
It would be highly useful if you could expedite the timeline to atleast come within next day’s banking hours (before 3 pm) so the funds could be put to use by the end users.
Well this didn’t happen.