I used to transfer funds via IMPS/NEFT to the account numbers 05230340001348 (EQ) and 05230340002150 (MCX) mentioned here. But off late it takes a long time for the funds to be updated in my account. Is there anyway to ensure that there is no delay in the credit of funds to my account.
When you transfer funds via IMPS/NEFT make sure to add ZERNSE for equity and ZERMCX for commodities as the beneficiaries. When you transfer your funds to our ZER labeled accounts, your funds will be credited to your trading account faster. But there are certain banks which don’t allow alphabetic characters in the beneficiary field, in that case, you have no choice but to transfer funds to our bank account with the following details.
You need to login to your internet banking portal to add a beneficiary. This is the process in SBI.
Step1: Login to your internet banking portal and select Payments/Transfers
Step 2: Select interbank transfers
Step 3: Select the mode of transfer i.e IMPS/NEFT
Step 4: Click on add new beneficiary
Step 5: Enter the beneficiary details.
Step 6: Once you have added a beneficiary you will have to confirm it. This process differs from banks, in case of SBI when you click on confirm beneficiary you will have to verify it with an OTP.
Once the payee is confirmed, you’ll be able to initiate fund transfers using NEFT/IMPS to the newly added payee. Transferring funds to these accounts will ensure you get faster credits to your trading account.
If i transfer the amount in my Equity trading account using NEFT, will the same reflect on my Mutual Fund account?
Thanks & Reagrds,
Yes, it will reflect on Coin.
Thanks for your quick response.
Are there any charges for Bank transfer. As I understand when I add funds using “ADD FUND” option, around ₹10 get charged for that transaction.
Depends on the bank. For ex, these are charges of SBI for NEFT/RTGS and IMPS transfers.
Thank You @Bhuvan.
I have transferred money through NEFT on 04/05/17 but still it is not reflecting in my demat account.
And this is my transfer detail:
For NEFT it should transfer within 2-4 hours right.
Are the Zerodha account numbers still the valid ones ? (the ones you have posted with screenshot)
Why is Q showing different account details here - https://zerodha.com/fund-transfer?
Appreciate a fast response.
Yes, the details are the same. If your bank doesn’t allow you to add alphabetic characters in the beneficiary you can click on the icon and the account number will be shown.
I have added as beneficiary successfully.
Just wanted to make sure if the account details provided are current before transferring the amount. Should I choose NEFT/RTGS ? What works faster ?
RTGS transfers are real-time whereas NEFT is processed in batches. But RTGS requires a minimum transfer amount of 2lacs. So if you’re transferring over 2 lacs, then RTGS. Less than 2 lacs, NEFT.
All done now, Bhuvanesh.
Thanks for your responses here in this thread.
Is there any method to add funds using Mobile Banking App rather than netbanking?
Add Zerodha as a beneficiary in your mobile banking by adding the bank details and ifsc code. You can then use IMPS/NEFT to transfer funds to your trading account.
I have HDFC bank account linked with my zerodha. So i need to do a direct bank transfer as neft will not be allowed within same bank. So kindly let me know Money will get reflected in trading account if do direct transfer from HDFC acccount?
Hey @Srinivas Everything Looks Good?
Now, Say If I will Transfer Funds Using NEFT Just Now It will Reflect in Trading account Before 9:00 AM Tommorow?
Looks good. NEFT transfers take up to 2 hours to reflect in the trading account. IMPS takes upto 10 mins only but charges may apply at your bank’s end.
Okay, Thank you for Information.