You can place redemption request for your Mutual Fund investments from Coin.
The settlement and credit varies from fund to fund, you can see time taken for settlement on redemption order window itself.
Didn’t get this?
I appreciate your prompt response to my questions, what I meant by my question is that what will happen when you close an investment account? When can I withdraw my money? Your reply is highly appreciated.
When you want to close your account, you will have to withdraw all the funds and transfer or sell all the holdings which you hold in your account. Without this account closure isn’t possible.
You cannot withdraw funds added on same day, you can withdraw from the next day.
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@VenuMadhav
Hi VenuMadhav, Can you please advise how soon do you expect this instant withdrawal to become live?
Thanks
Nakul
When will my fund withdraw request processed if I request before noon ?
Sales proceedings as on 26-3-31 contract note (last Friday ) was not credited on settlement day 31-3-21 (T+2 till 8.30pm (cut off time for with drawl request )
still did not credit funds as withdrawable till 12.01am on 1-4-21 …
raised a ticket as to why?.after 24 hours a copy paste reply saying T+2 bla bla . They dont even read our question why T2 is not settled by EOD …
Finally at 00.48am on 1-4-21. funds got credited. Made a with drawl request at 1am on 1-4-21, accepted request but funds were showing yesterday all day (I did not trade)
Finally got a sms at 00.30am on 2-4-21 saying withdrawl accepted & funds will credit to my bank tomorrow Saturday 3-4-21 before noon ( bank holiday on 1-4-21 & 2-4-21_
you should get tomorrow 3-4-21 by noon. see my post above
thanks
PROBLEM 1
Say funds available 100000 amount.
commodity charges -110 amount (account opening charges).
Then when withdrawal for 100000 available amount is placed, it gets rejected.
Then they say its due to that -110.
Why dont they just state clearly that available itself is 100000 - 110 = 99890?
Then they dont adjust those 110 rupees, they keep doing this adding to the confusion.
@siva @ShubhS9 can you please please correct this?
In these COVID-19 days, we dont know when we get into emergencies and even 1 hour delay is critical and even few hundred rupees matter.
Please display whats ALLOWED to withdraw (total across segments) as withdrawable so that it doesnt get rejected.
PROBLEM 2
If all the trades are intraday, then the in case of losses CAPITAL-LOSSES is withdrawable at EOD right?
similarly if profit, at least capital is withdrawable right?
SO if your withdrawable funds show some 100000 amount at the start of day, I add 20000 and all trades are in profits (enough to cover the charges). So then I can place 120000 for withdraw and it MUST be processed right?
or is there a single reliable place where I can find CORRECT WITHDRAWABLE amount?
If you are trading in both equity and commodity segments, and if you have a negative withdrawable balance in either of the accounts, your withdrawal request can be rejected. You will have to clear your dues to withdraw the complete withdrawable balance from either of the accounts.
You can refer to this support article to now how withdrawable balance is calculated.
Intraday profits can be withdrawn only after those are settled, the settlement happens on T+1 day in F&O segment and T+2 day in equity segment. You can check this post for more information.
@ShubhS9: thanks for replying fast!
Yes I always use withdrawable amount to enter.
But thanks for pointing out as I wasnt aware of ‘funds credited today arent available for withdrawal today’.
So in this context, somewhere in this forum you had mentioned ‘instant’ withdrawal facility being worked on by zerodha. May we know whats the status?
And After what time before 8.30 in the evening can we safely depend on the amount to enter, which is shown as withdrawable? what time it gets updated after 3.30 for equities? currency? commodities?
PS: I have placed the order today exactly at 8.30 PM ( i mean 8.30 PM + few seconds less than 8.31 PM)
Does it qualify for today?
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still planning to launch this feature?
1 Like
Whats the latest rules? Is p&l updated the next day unlike it used to happen the same date by late evening?
Is that the SEBI guideline to block the withdrawal if I have a negative in the Equity or Commodity account (vice - versa)?
OR
Is it the rule from Zerodha ?