Discontinuation of pooling for mutual funds and how it affects Coin

I’m facing this error since morning for my SIP’s and the money is deducted from my account. Please help me by when can I expect a refund. @Bhuvan I have tried 3-4 times now since morning.

@ShubhS9

I made a purchase on November 21st, and I did not get Coin email about allotment. Transaction was successful, and units were credited and are visible in Coin site, but no email.

Made another purchase today, got email.

What happened?

Anyone else faced this?

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Any updates on automatic SIPs? Are you even working on it or have you given up?

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Please create a ticket at support.zerodha.com so our team can have this checked and assist.

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We are currently testing the mandates internally, and we should be able to go live soon.

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How much more testing do you require? This is so frustrating. Will it be done within next 30 days?

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Hey members, does Upstox support automated SIP ?

If it happens again, I will open a ticket :+1:

@Bhuvan @ShubhS9 can you guys pls look into this? Have raised a ticket as well - # 20221128296591

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Having this checked.

thanks @Bhuvan…I tried paying for it today as well but it failed again. While I tried with my other coin account it worked and the order got executed but in this family member’s account it is continuously throwing error since yesterday and the money is getting deducted.

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I am sure the team must be working hard, and we might see the SIP mandate soon (according to the team) but its already 4 months and more that the customers are suffering. Without disrespecting the Zerodha team and their effort, the communication this time with the issue has been the worst. If I am correct @nithin has not commented on this thread a single time, which shows the lack of communication this time around. When you comment on the public platform on the success story of Zerodha , we do feel proud being a part of it for a long time. But this time you guys disappointed us. I am sure we will all forget about the issue one its resolved, but personally I will never forget the way you guys have treated us (“The customers”) as we (the coin users) dont make any revenue. The least we expected from you was communication.

Regards
A disappointed fan boy of Zerodha

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This has taken time because we have to integrate with ICCL (clearing corp) bank accounts (not our own). We launched this for internal testing last week and encountered some issues. We should have this up in the next couple of weeks.

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Money wallets kept with your stockbrokers are called pool accounts. You could use the funds in your stockbroker’s wallet for all transactions made on their platform. You won’t be able to use that wallet balance for mutual fund transactions starting on July 1, 2022, according to SEBI’s most recent circular.

How many times it would be ‘next couple of weeks’? You’ve been lying, cheating and manipulating people since 4 months now.
Can you give a max deadline that by which date, it would obviously be resolved at any cost?
Or if you can’t should be switch to groww?

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Internally we have set a deadline of 8th Dec for this.

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I don’t agree with the cheating part. I agree they have been lying and manipulating.

It’s kinda bad everywhere. I’m thinking of switching to Kuvera or go direct to the AMC website.

@Bhuvan - It’s been 3 months since you requested to “bear for a little more”. Any updates/addressal?

We should be live in a week or so.

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This is a nice update. So, it’s just a matter of 6 more days! That’s great. Thanks

I assume that the Team(s) at Zerodha are so capable that they meet this deadline.

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