Discontinuation of pooling for mutual funds and how it affects Coin

@Bhuvan not sure if this is already discussed can you please share some information on are you planning to introduce a way where automatically money is deducted from bank account for my scheduled sip order via some mandate? Like now we have to make manual payments for sip on sip date

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@Bhuvan My order was on July 28 and haven’t got the refunds for the purchase yet. Ticket number is #20220801462206 . The last email from zerodha said all refunds will be processed by August 10th and that’s not been the case for many i guess. When will the refunds be processed?

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You can start a new SIP in a new folio directly from AMC website.

Guys, all lumpsum investments are working fine… pause the SIP and do the lumpsum (additional buy) until the issue is resolved

But how much longer would it take? Its been over a month since i placed the order and 2 weeks since supposed refund.

We’re on it.

On it, Sahil. We’re following up continuously.

Checking this.

Hi @Bhuvan @Esha I haven’t received a refund for failed transactions of 25th July and 2nd August. Ticket #20220725941699. Customer care executives (on both call and ticket replies) have no idea what is going on. Please help with the timeline by which I can expect the refund.

There is absolutely no difference in SIP buy, fresh buy or lumpsum buy, due to the way Coin works every buy is a new Dmat buy credit. Unless it is an AMC SIP.

p.s - someone can correct me if its otherwise

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you are right… I meant AMC SIP’s…

Do we have any grievance portal in the BSE star MF website? I know Zerodha is working closely with BSE to get us the refund, but, can we directly raise concern with BSE and accelerate the process?

This is frustrating as a large sum of money from many retail investors(without interest) is stuck and we are entirely unaware of what’s happening behind the scenes. More transparency would be really appreciated.

It’s already 1 week more than the promised Aug 10th date. I personally feel like something was really really messed up on the BSE side in the way the order and fund are handled. Otherwise, the mapping of bank accounts & refunds should not take more than 4-5 business days.

Do we have any latest updates from BSE regarding this?

@Bhuvan What is the expected timeline for rolling out the MF emandate live ? And how soon is it expected to resolve all these failed transactions or refund issues with payment gateways and exchanges ?

Are the AMC sip working as of now ? Or is that a better option to start an new SIP investment ?

Update:
Have received the refund just now. :slight_smile:

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Got the refund an hour ago. I wrote to these many email IDs. Anyone who is still waiting for refund can try writing to them. Fill the below details in that email.

[email protected]; [email protected]; and 4 other email IDs which I’m not able to post here due to 2 link limitation for newbie in tradingqna.

Investor pan no-

Broker code -

Investor name -

Mobile number –

Bank account number –

BSE order number (if any)-

Trade date -

Folio numbers

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@Bhuvan i have made a transaction on 11th of July. Amount debited to my bank account. But transaction failed. I again made the payment and units alloted. But i don’t get the refund for ist failed transaction.
Please look into the matter. 36 days has already been past.

Same issue as mentioned by many above, after almost 12 days i received an email stating my order is rejected " payment not initiated from clients end".

Need to raise a ticket but i can’t figure out what category to choose while doing it. Can anyone help me with this?

FYI : New to the SIP / mutual funds world. Bare with my basic questions :sweat_smile:.

I chose “How long will it take for the mutual fund units to show up in my DEMAT account?”

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Hey, any updates from BSE?

@Bhuvan I got refund for 8 transactions out of 20 failed transactions. Here is an update of the support tickets that are resolved and those that are still open.

#20220726497295 → Resolved
#20220712677279 → Resolved
#20220726823757 → Open
#20220715416055 → Open
#20220726986693 → Open
#20220726408145 → Open
#20220715211371 → Open
#20220719259100 → Open
#20220726558369 → Open