Discontinuation of pooling for mutual funds and how it affects Coin

Zerodha Coin - Direct MF
800

This has taken time because we have to integrate with ICCL (clearing corp) bank accounts (not our own). We launched this for internal testing last week and encountered some issues. We should have this up in the next couple of weeks.

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801

Money wallets kept with your stockbrokers are called pool accounts. You could use the funds in your stockbroker’s wallet for all transactions made on their platform. You won’t be able to use that wallet balance for mutual fund transactions starting on July 1, 2022, according to SEBI’s most recent circular.

802

How many times it would be ‘next couple of weeks’? You’ve been lying, cheating and manipulating people since 4 months now.
Can you give a max deadline that by which date, it would obviously be resolved at any cost?
Or if you can’t should be switch to groww?

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803

Internally we have set a deadline of 8th Dec for this.

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804

I don’t agree with the cheating part. I agree they have been lying and manipulating.

It’s kinda bad everywhere. I’m thinking of switching to Kuvera or go direct to the AMC website.

805

@Bhuvan - It’s been 3 months since you requested to “bear for a little more”. Any updates/addressal?

807

We should be live in a week or so.

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808

This is a nice update. So, it’s just a matter of 6 more days! That’s great. Thanks

I assume that the Team(s) at Zerodha are so capable that they meet this deadline.

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809

Today my SIP order got rejected and it shows “Consolidated amount for same PAN cannot exceed Rs.2500”
Will i get the refund automatically or i will have to create any ticket?

810

@nithin @Bhuvan Can you give a list of things you guys tried in these 4 months and failed?

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811

this was for which mf?

812

Looking forward to see this implementation by 8th December live

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813

Will happen automatically.

814

Mirae asset

815

How many days generally it takes?

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817

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

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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:

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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?

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820

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

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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