Payment using current account

Zerodha Coin - Direct MF
1

Hi @nithin

I am trying to buy mutual funds using net banking, however whenever I click net banking for the payment options it’s placing the order as NEFT/RTGS.

I have tried the same with different browsers (as per the suggestion from the support team). I still get the same result.

Reply that I received from support team.

Current bank accounts cannot be used for payments on payment gateways for purchase of mutual fund.

2

Hi @Akshat_M could you DM me your ID?

4

I have dm you the id

1 Like
5

@Neelesh @nithin

If I try RTGS/NEFT, we are facing another issue

For instant,

If I select Mutual fund A and place an order( not make the payment yet),
But after that I change my mind from buying Mutual fund A to buy Mutual fund B, I can’t do that

since I need to wait for 6 days for the order to get automatically cancelled for the system, since we can’t cancel the order manually.

6

@Akshat_M, you have a current bank account mapped to the Zerodha trading account; any current bank account cannot be used to make payments via UPI or net banking. Hence you are being redirected to the NEFT flow automatically.

For this we have been in touch with the exchange to provide a facility to cancel an order, they are working on the cancellation APIs and this is work in progress. Till then you will have to wait for T+5 working days fro the order to be cancelled from BSE, else, due to FIFO the payment will be mapped to the first order open in the system.