Discontinuation of pooling for mutual funds and how it affects Coin

Zerodha Coin - Direct MF
815

How many days generally it takes?

1 Like
817

Should happen in a few days. Please create a ticket, somoene from our team will check this.

1 Like
818

@Bhuvan good to see ICCL mandate option in coin being added…
Please update help in website and share us instructions to enable it.

Great news you fulfilled the promise finally :+1:

2 Likes
819

This is live and we will publicly announce in a few days.

@Bhuvan maybe share a screenshot of how to set it up here?

3 Likes
820

Hi @Bhuvan, I can see mandates option now in coin…wanted to know is it fully functional or still in beta?

1 Like
821

Updates

Mandates are now live on Coin app and web. Follow the steps in the article to create one. It takes up to 3 days for a mandate to be registered and once it’s registered, you can link it to an SIP. Please update the Coin app to create mandates.

Steps to create a mandate on the Coin app

Let us know if you spot any issues during the creation.

7 Likes
822

Hi Bhuvan, it appears that mandates are limited to Rs 1Lac only. Does that mean that on a single day we cannot have sips totalling for more than 1Lac? Is the work around to create multiple mandates and link different sip to different mandates?

823

The daily limit per mandate is Rs 1 lakh and yes, multiple mandates can be created.

2 Likes
824

They’re live now.

825

Check this, please.

826

Its easy to create the mandate, takes few second to create it.

2 Likes
827

Have applied for a mandate, let;s see how well it works.

828

Is there any way to automatically withdraw funds from trading account to fund the SIP?

829

Thank you team zerodha, you kept you word :100:

2 Likes
830
  1. https://zerodha.com/tos/merch-mandates
    Terms and condition page not working

2.What are the charges for eMandates?
Is this one time charge? and if mandate fails is there any other penalty apart from bank side?
What will be penalty from bank, any data for the same?

1 Like
831

  1. Will be fixed.

  2. Yep, this is charged by the bank. Mandate failures may also result in some penalties that varies across banks.

832

No such option but unused funds will anyways be automatically transferred back from your trading account to your bank account.

833

Hello Bhuvan,

I am happy to see this working now. It saves a lot of time for the Clients. It’s implemented quite late though.

As being a client I have the right to convey the feedback in case something doesn’t meet my expectation, I am equally responsible to give the positive feedback when things work.

The efforts from Zerodha are much appreciated in this piece.

Best regards
Arun Gupta

3 Likes
834

@Bhuvan Is there no way to create a mandate with a secondary bank account ?

2 Likes
835

Can the mandate amount be greater than my SIP amount? If so, I believe only the SIP amount will be debited