Today, zerodha balance was transferred all the funds back to the account. I know that they do it after every quarter but wanted to understand how the brokers decide how much amount to transfer back to the bank account.
Is there any formula or logic behind it? I was actively using the account and did not make new investments in the last only in the last 3-4 days. All the funds were transferred back today but last entire month the funds were utilized.
I found out that settlement happens on the first Friday of the quarter. But how is the amount to be transferred back decided? That is still not clear to me
Since this is a quarterly settlement, even if you have traded, the funds must be transferred back as per SEBI mandate. However, brokers can retain up to 225% of End-of-the-Day (EOD) margins if you have an outstanding position on the quarterly settlement date. As explained here.
@ShubhS9 Yesterday, I submitted a withdrawal request for the surplus amount. However, Zerodha did not process my withdrawal request yesterday as they typically do on regular days. Can you tell me why?
Withdrawal requests placed from 5th January onwards will be processed on 8th January due to quarterly settlement. Any unused funds have anyways been transferred back and will be credited by 6 PM today.
This is very strange, because of quarterly settlement why should normal business as usual process get impacted?
How can I get my money from zerodha after the settlement i doesn’t get my money
I logged a support ticket for this as well, and got the same canned reply. To hold customer extra funds for 4 days and not providing an option to withdraw is not fair, I think.
Hi @Ankit_Singh_Rathore, could you please create a ticket and DM me the ticket number? Will get this checked.
