Discontinuation of pooling for mutual funds and how it affects Coin

@Sayeeganesh_Sivarama I don’t think we shud look for such options. SEBI circular is in the interest of investors and good for us only.

Let investment platform change and adapt as per circular not other way :rofl:

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Weekend is about to end, any update ?

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Hi faisr,

Thanks for the update. As you mentioned ‘next weekend’ on 04-Nov, Is it live already now?

Best

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while SEBI circular is good for most investor, it is very much not in my interest. I seriously doubt it would give any real safety. it is just giving a false sense of safety. I am not 100% sure why SEBI allows paying for stock market trading using pool account while not allowing mutual fund transactions. it does not make sense. Most of the people do invest using SIP or something similar, which is fine to do from pool account. SEBI may enforce brokers from selling client assets by forcing AMCs to deliver the cash to client’s bank account instead of pool account in sale transaction, but applying for SIP is unnecessary. I would like to keep all my investment transactions in one place, and not pollute my bank account statement. Just IMHO.

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Another week has passed. Is there an update to using mandates?

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Now it is more than 4 months - I’m not sure who is inefficient - Exchanges, bank, or your team?
Does your top management know about this big failure on your side?

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Obviously Zerodha is, at least partially, not efficient enough at all. For them, Coin is defnitely not the money making part of business and not willing to do anything to meet our needs efficiently. I dont want to discredit all hard working people on ground but there is defintely not on the priority list and no sense of importance and urgency given as we would like. Let us think - assuming if this is a situation in Stock Trading, would you think they take 4+ months to address it?

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Yes, it is all like taken for granted

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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