Discontinuation of pooling for mutual funds and how it affects Coin

Just curious… Is this issue of glitches only unique to Coin app or are other platform users also going thru this same issue? I am not able to see much complaints from users of other platforms!!! Or am I naive? Not getting the courage to put money in MF thru coin looking at the scores of complaints here

Hi @nithin

We as an active user are able to track our investment, cancel our mandate and manually pay for all the sip.

I had done coin setup for my sister last year and onboarded her (was a tough task to explain her about SIP in index fund and it advantages)

I live away and she is unable to understand all these trouble going on. Somehow I took credentials and managed her account.

My humble request to you and your team. Many housewife (Include Crore of Indian) don’t even want direct stock exposure but want to invest in index.

Please give importance to COIN as a MF App, not just an instrument leveraging Kite Demat process.

:pray: Hope I am able to convey my thoughts

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I echo with @akashtripathi

Yep, we have some ideas to make things simpler. But the regulatory changes have been like a hanging sword :frowning:

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See the result, all my sip getting rejectEd zerodha need to provide solution

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Update from BSE
https://www.bseindia.com/markets/marketinfo/DispMediaRels.aspx?page=d0535d88-3eec-40ab-ab0b-dadc5ebcd29b

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Error fetching order payment link.: Due to an issue between BSE StAR MF and their partner banks, NEFT/RTGS transactions are temporarily unavailable.

what is solution for this ? trying from 1st Aug

But its been a week since the transactions turned up faulty. So when is bse going to map the transaction and why wasn’t it done when refund was processed?

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exactly my thoughts, it seems they were never serious with the coin app. It has become a disaster for my parents to learn the new process. Yes coin is a free app , but please do something about it. I have many friends how joined coin only for MF/ELSS and now they have stopped investing in coin. I hope the team comes up with a simple solution soon.

@Bhuvan @nithin
I paid for my order on 9:25am July 28, 2022, from UPI to “bsestartmfrzp@icici”. Today(August 5, 2022), I got a mail saying the order failed due to “PAYMENT NOT INITIATED FROM CLIENT END”. I haven’t got the refund also.
I’ve raised a support case with payment details. Any solution for this?
Ticket #20220805841866

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This actually puts the blame on Zerodha and RazorPay / Payment Aggregator. BSE is saying they cannot refund for some transactions as the source bank account details is not known to them .

While processing the transactions and refunds, it was observed that incorrect / incomplete information was received from some of the Payment Aggregators which resulted into delay in processing some of the refund transactions. As and when the requisite information is being received, the refunds are being processed, and currently refunds of nearly 0.3% value of transactions is still under process.

We are working with the brokers and payment aggregators to finish processing those refund transactions, and we would like to reassure the investors that their money is safe with BSE / ICCL and that they would get the pending refunds immediately directly into client accounts on confirmation of mapping of bank account of client.

Exact same issue. @Bhuvan @nithin after waiting for 8 days, now we are getting the message that payment not initiated from client end. What does it even mean??? I have screnshots of transaction success message, money debited from account proofs, so what is this?? So where did the money go from my account? And where is it lying for past 8 days??

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+1. Account debited on Jul 28th, 9:26am, payment made via UPI. Current status on Coin shows as ‘Rejected’ with reason being '“PAYMENT NOT INITIATED FROM CLIENT END”.

Support ticket #20220729141551.

I hope this gets resolved soon and the amount gets refunded

Exactly same thing happened with me too.

I invested 20k in an index fund… payment was successful and now I just received an email saying order has been rejected.

Where is my money, team??

Are these problems been faced by every client or only some of the clients ?

@nithin please provide solution, mutual fund related problems

I have made 10+ transactions starting Jul 1, haven’t faced any problem.

Seeing other people’s situation, I have paused my investments for now

my sip order of 28th july has also been rejected. patiently waiting for refund. Hopeful of this being resolved this week itself.

Order placed and payment completed, but now the order is showing canceled, no refund yet. Please help


@Bhuvan @nithin

Please help

How long will it take for the mutual fund units to show up in my DEMAT account? [Ticket #20220722293552]- Zerodha Helpdesk

During the same time the Nav has gone up 1.83%
I am getting a loss of 1.83% although invested on time.

Though in my case the amount is small.(91₹)

But imagine someone would have placed a order of 200,000 he/ she would be sitting on a loss of 3k.
Plus the interest lost on savings account as well.

This is not good from zerodha. :sleepy::sleepy:

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