Discontinuation of pooling for mutual funds and how it affects Coin

Zerodha Coin - Direct MF
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

836

Hi @Bhuvan @ShubhS9

I had placed an order for mf (non sip) on coin on friday and made the payment via rtgs (as abovd the limit for upi).
In the past i used to get the unit details over the weekend and confirmation from coin on monday.
For the current transaction i have not got any details or confirmation.
Can you please have a look at this as the funds involved are material.
I have already raised the ticket but the reply recieved is very generic rather than looking into the details.
Can you please help.

[Ticket #20221212480327]-

837

Hi Prateek, checking this. You’ll have an update on the ticket.

1 Like
838

Hi @ShubhS9
I got a reply that the order is not mapped to my account and the funds would be returned back in 10 to 20 working days.
This does not make sense as had placed orders last friday and they went through correctly.
Also the resolution that funds would be returned after 10 to 20 working days is not a acceptable solution as the funds involved is very large (upwards of multiple lakhs), hence leading to massive opportunity loss and nav impact.
Can you please look into this personally and provide a better solution.
Please let me know if we need to take this offline or in dm.
Im reachable of my account contact phone if that helps.

839

I haven’t tried RTGS but internet banking goes through smoothly for me.
But yes, taking 10-20 working days for the refund seems a bit too much.

1 Like
840

I worked smoothly for me last week. God knows what went wrong this week.

841

is payment through RTGS mode open now ???

1 Like
842

The mandate is created with a default amount of Rs 1 lakh. You can create SIPs up to that amount per mandate.

843

Not currently. But this in our to-do down the line.

844

Hi @ShubhS9 @Bhuvan

Any update/ possible resolution on my issue?

2 Likes
845

Will have our team reach out.

846

Thanks. Had a word with the team. Understood the issue that has happened. Hopefully the funds are are returned to bank soon.
Thanks for the support @ShubhS9 @Bhuvan

2 Likes