Bank payment gateway have stopped support for instant fund transfer

General
1

Hi Zerodha team,

I use Indian Overseas Bank account for transactions at zerodha kite. I have received an email from Zerodha 2 days back regarding an information about payment gateway support of Indian Overseas bank for instant fund transfers has stopped. I want to know that

1- How will it affect my transactions at Zerodha kite?
2- I use to apply for IPO by using ASBA facility provided by Indian Overseas bank. So now when the instant fund transfer is stopped by the bank, how will I apply for IPO?
3- Can I withdraw my funds from Zerodha kite to my bank after this information?

Looking forward for a reply on my above queries.

Regards

2

This means that you won’t be able to add funds to your account from Kite>Add funds. You can transfer funds to your trading account via IMPS/NEFT/RTGS.

This doesn’t affect the IPO application process. To apply for an IPO you need to have funds in your bank account and not your trading account.

This change is limited to adding funds instantly through Kite. Nothing else changes.