3-in-1 account with IDFC Bank

General
96

Hi Sudheer, when you change your Primary Bank account same will be mapped to your Zerodha Demat account as well.

1 Like
97

@ShubhS9 please bring instant fund transfer to IDFC bank , make full fledged 3 in 1 account like bank brokers

98

After the latest SEBI - margin rule. The 3-in-1 account provided by Upstox is no more valid.

Post the SEBI rule, Upstox now does not transfer back any un-utilized funds in Trading A/c at the end of the day, even if you have transferred it via Smart Transfer.

With this new implementation of the 3-in-1 a/c provided by Upstox stands effectively cancelled. While they claim they will come up something new, their edge is now gone.

1 Like
99

@ShubhS9 @siva @nithin sir please launch instant withdraw to bank account

100

Yeah, we are working on it with some upside limit.

2 Likes
101

I’ve mapped my IDFC bank account with Zerodha and I’ve downloaded the 3-in-1 PoA. I’m supposed to sign it and post it to your address, BUT is there an online process for that. Maybe I can sign-scan-send it… or can use digital signature?

1 Like
102

You’ll have to send a hardcopy of POA.

103

Thank you for your reply, Shubh.
I had two more questions:

  • My (previously) primary account is now my secondary account on Zerodha. I had Bank Mandate set on that for COIN SIPs. How do I set Bank Mandate on IDFC account now (or, since this is 3-in-1 account, I wouldn’t need to do anything like that)
  • I also used to apply to IPOs through my previous bank account (now connected to Zerodha as secondary account). Then, the IPO stocks used to directly list in my holdings in KITE. Does this process remains same OR do I have to do things differently now?
104

@ShubhS9 please tell me. In this 3-1 account. My GTT order gets executed directly from the cash on my saving account or it gets cancelled if I don’t have cash in zerodha account?

105

You can cancel the mandate you’ve earlier created by getting in touch with the bank and set-up mandate from your IDFC account.

To fund for your SIP’s or trading, you’ll need funds in your trading account.

Nothing changes, you can apply for IPO like you used to do earlier and the alloted shares will be credited to your Demat account with Zerodha.

106

You’ll need to have cash in your trading account, if sufficient funds aren’t there, your order will be rejected.

107

Thank you for your prompt reply once again! :slight_smile:

I was reading this thread and found Zerodha team is working towards ‘automating’ (my phrase) the transfer from IDFC bank to Zerodha account at least to a certain limit. Can you tell me if that is happening anytime soon?
Also, are there any other features of IDFC-Zerodha integration in the pipeline that we can look forward to?

108

Thanks @ShubhS9 for your reply…I know my questions are very silly…but I am learning…so if we have unutilised cash in our trading account should we get interest from idfc bank for that amount and if not then in that case what is the actual benefit of this 3-1 account…

109

The amount in your trading account won’t earn any interest. You can check this post to know all the benefits of 3-in-1 account.

110

Upstox is offering 3 in 1 account with out COMMON POA
BUT WHY ZERODHA IS ASKING TO PROVIDE COMMON POA

111

If I still have to transfer money then to Zerodha. It completely defeats the purpose of 3 in 1 account.

112

Hi everyone!
Was going through the post and article of Zerodha support portal regarding this.

I have my simple queries:

  1. Can I transfer money from IDFC 3 in 1 account to Zerodha trading account instantly and will that be immediately available for trades/to fulfil margin requirements? ( my understanding is YES)

  2. if yes, is there any limit on amount transferred in one go or in a day?

  3. while transferring out money from trading account to bank account, it won’t be immediate. How much time will it usually take? And is there any limit on amount transferred per day?

4)I understood there are no charges for transferring-in. Any charges for transferring-out (from trading account to bank account)?

Thanks in advance.

113

Yes, you can. There are no limits. You can check more details here.

Fund withdrawal process has been explained here. You can withdraw minimum Rs. 100, there is no maximum limit.

There are no charges for transferring funds from your trading account.

114

Hi Team

For those who have this 3-in-1 account, can you please tell me if you are working on a facility to:

  1. Instantly transfer funds from Zerodha to IDFC bank
  2. Automatically move funds from IDFC to Zerodha account if I buy stocks, MFs, etc. on the latter. Without that, this is not a 3-in-1 account
  3. Show the balance from the IDFC bank account in Zerodha funds (perhaps a different section), console, etc.

Yes, I know we can transfer money from IDFC to Zerodha with just one click without much delay, but I’m looking at reducing the number of manual steps.

If you are working on these, when can we expect it. Please give a more satisfactory answer than ‘we are working on it’.

116

@siva @ShubhS9

Any thoughts on this? This would be very helpful feature.

For example, feature #2 will help people not worry about syncing their SIP schedules across stocks and MFs and with that of bank mandates / NEFT transfer. That is one of the multiple benefits of having this automation.