Discontinuation of pooling for mutual funds and how it affects Coin

This has been the biggest problem of the change that is implemented. We are not aware of where our money is for so long. I also had failed orders from 28th July but they were refunded around 10th Aug. I hope you have raised a ticket with them.

@Bhuvan @Esha @nithin it seems people are still struggling with their refunds. Can you please look into it and help!!

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I’m having this checked with the Coin team. We’ve been continuously following up BSE. Please give us some time, will give you an update as soon as we hear from BSE.

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For everyone who’s money is still not refunded can write to these email IDs I’ve mentioned in the post I’m replying to.

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Could you share the ticket number, Indranil?

Hi sir, I have also applied for mutual funds through 2 demat a/c on 28th July’22 of Rs 50,000/- each. Still refund not received in any account. My ticket no is:-

#20220801488576
#20220803110587

I wrote mail to BSE. They are saying that I should follow platform(Zerodha) for refund.
While Zerodha is ignoring support ticket/forums.
Refund is pending since last 1 month. Whom do I contact now?
One of my relative also got transaction stuck at COIN 2 days back so platform is not stable at all.
I tried to move my folios to another platform but it seems we need to create a new demat account then.
What are my options? Whom do I contact for refund? 1 month is too long and I can’t wait more.

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Any news about integration of coin with ICCL?

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Hi,

I have placed an order on 5th August, and the order was not processed from BSE star. It has been over 20 days with no sight on when I will be receiving the refund, additionally, is this a new norm from Zerodha support to close the ticket without actually resolving the issue ? Ticket number - 20220819127360.

Can somebody please provide me with a resolution of the same or the time by which I can expect the refund.

Highly, dissapointed with the generic response zerodha support provided.

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@Bhuvan any update on mandates for SIP’s?

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I have had SIPs on Coin for 2 years now and the experience was always good but now it is just unusable. I missed a payment and it took me half an hour to set up all the orders again and bulk pay them. This is a UI disaster.

I cannot believe you guys did not stand up for yourself when SEBI or whoever implements these stupid policies asked you to do this. I do not even have the option of granting Zerodha the permission to use my trading account for MF transactions- where do you guys come up with this stuff?

I want you to know that I will be looking for alternatives to Zerodha. This system is unusable for me

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If you don’t need your funds in demat form, going direct with the AMC is better.

Or use the RTA websites - CAMS and Kfintech.

Due to regulatory change, no intermediary/broker can accept payments or use trading account balance for MF transactions - this is for everyone, not only zerodha, perhaps you are not informed of this or denying to know it.

Yes, there are certain issues with coin and zerodha regarding this, many other brokers are also facing similar stuff due to this regulatory change…

is it just for me or UPI payments are failing. Got the below error
“Payment processing failed due to error at bank or wallet gateway”

For me, things have been good so far and got correct NAV and allotments. Never faced any issues since the start of this fiasco. Dunno if I’m simply lucky or whatever…

Did additional purchases yesterday (29/08) at about 12:30 PM in 2 funds (tata+quant) and bulk paid via UPI. Process was smooth and received email updates order. Coin dashboard showed order submitted to AMC.

In the evening, received fund credit confirmation from TATA, quant doesn’t send those.

Today (30/08), I received allotment report email for the 2 funds in the afternoon and hopefully will show up as transactions in my coin dashboard tomorrow.

This month all SIPs worked fine… No failures :+1:

Made a purchase through Coin today, got allocation. Looks like everything is alright.

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@Bhuvan 21k debited for MF allocation not refunded yet. Any status please ? #20220820346670

Very bad support from Zerodha just using copy paste replies. My Parag Parikh MF got rejected saying “ PAYMENT NOT INITIATED FROM CLIENT END”. What does that even mean? Money was cut from my account. And no mention about refund.

Contacted Zerodha support and got a copy paste reply saying the same thing which has been said here. They didn’t even bother to check my case as they said I payed using Razorpay when I actually used Netbanking.

Really bad support from Zerodha to just keep blaming BSE Star. Why don’t we have a nudge saying “ Hey our platform sucks now and so does our support. Please use some other platform if you actually want a decent experience and support.”

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Sorry about this, Harthik. Having this checked.

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@nithin @Bhuvan @Esha @ShubhS9

50K refund is pending since more than 1 month. What is causing further delay?
Whom should I contact? BSE and Zerodha is not replying to help for support.

Also another transaction for 10K got stuck in August end so I have stopped using COIN for investment. When will be COIN safe for investment.