After creating mandate(eNACH) in console is it required to create Schedule to deposit money

Zerodha
1

Hi,

I have a small query, after creating mandate in zerodha console is it mandatory to create a schedule to credit the money to zerodha account?. If i did not create a schedule will the required SIP amount will be deducted automatically?

1 Like
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@mohitmehra Can you.

1 Like
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@mohitmehra / @siva I too would like the ability for money to be debited / credited directly from the bank account instead of having to figure out how much I need to transfer to the trading account as my investments change.

From my understanding it was close to launch last year but then some new regulations threw a spanner into the works. I recently signed up for Kuvera though and they took a mandate that allows them to do this. I’m assuming that means Zerodha too should now be able to implement the functionality.

I know the team is lean and this isn’t a high priority but it leads to a negative customer experience when the answer is ‘soon / working on it’ for over a period of 1-2 years and nothing comes of it. Something more definitive in terms of a timeline or the challenge faced in implementing it would be appreciated.

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The eMandate feature is available, which automatically transfers funds from your bank account to trading account, more has been explained in the below post.

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Is there an issue in the eMandate?I have a schedule for 3rd of every month and money isn’t debited this month nor did I get any notification for the emandate(saying the emandate debit is successfull) which I usually get every month .This issue has happened twice in last 4-5 months for me. Have already created a support ticket for the same.

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Could you please DM your ticket number?

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I have DM’ed the ticket number @ShubhS9

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I have created a Emandate and schedule the date also. I have one query if the scheduled date will fall on Sunday what will happen. Is money will deduct from my account or not.