@siva Is this done yet? Can’t see option to withdraw and receive money same day yet. Please advise
This will take some more time.
@siva @nithin I just confirmed with my HDFC bank manager that 24x7 NEFT is available for all bank customers. Individual and Corporate business accounts alike. This benefit of 24x7 NEFT should be passed on to Zerodha users as instant withdrawal feature.
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We’ll check with our bankers and get back.
Instant withdrawal will be powered by IMPS, not NEFT. There are some internal processes pending before we can go live, we’ll announce.
What 24X7 NEFT will aid is, that when we process our regular payouts, the credit will hit your account sooner than now.
It doesn’t currently. I had withdrawn at 3:31 pm on Friday and the money came to my account on Monday morning. That’s too long an unnecessary wait if 24x7 NEFT is enabled by HDFC too for Zerodha corporate business account. More than that I didn’t get the money when I needed so. We also lose interest amount for the delay. Forget Instant withdrawal, just be in sync with the bank NEFT turnaround time. Even at midnight I should be able to withdraw and the money should hit my bank account as per 24x7 NEFT norms which is not instant but almost instant. It would be good enough for us to suffice our expectation.
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You’re getting confused. There are 2 kinds of payout:
(a) Regular payout (RP): RP will allow you to withdraw any or all the money in your account. Regular payouts will be processed after we’ve processed our trades and have posted the obligations on your ledger. RP will be processed via NEFT. Regardless of when you place the request, it’ll be processed only after the trade process is done which is around 9 or 9.30 in the evening. Once the payout is processed, the funds will hit your bank account subsequently. If NEFT is made 24X7, you’ll receive the credit at 11.00 pm or 12.00 am instead of receiving it the next day.
HDFC’s corporate banking portal is ENET. FYI, here’s a confirmation email from our bank confirming that 24X7 NEFT isn’t available yet.
(b) Instant Payout (IP): IP will be processed via IMPS, you’ll be allowed to withdraw a portion of your funds (with an upper cap) instantly. When you place an IP in the midnight, the funds should hit your bank account in a few minutes, subject to you having sufficient balance. This, is WIP and will be announced soon.
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I am not getting confused. All I am asking for is NEFT 24x7 applicable on withdrawals so that even at midnight I can withdraw funds from console and as per 24x7 NEFT TAT money would be credited to my bank account. The example I mentioned above where I pressed the withdraw button at 3.31pm on Friday and the money reached my account on Monday morning.
We don’t need instant withdrawal if you look deeply. Whenever 24x7 NEFT is applicable on withdrawal from console, the rest would be taken care of by the bank. 24x7 NEFT is not instant but almost instant with a lag of few minutes. All Zerodha needs to do is be flexible and process our withdraw request instantly and pass on the instructions to the bank immediately so the bank NEFT can do the rest.
In my case, a withdraw request on Friday 3.31 pm should have been processed immediately, I would have received the money on Saturday at most (considering NEFT not 24x7 for your banking system). Still it saves 2 days for me.
Say, you had 1 lac in the account on Friday morning. You’ve taken trades, and used up margins. You place a withdrawal request for 1 lac, don’t we have to determine the actual amount you can withdraw? The margins for positions, MTM, everything keeps changing constnatly. So we have to wait until the day’s trades are processed to arrive at the amount you can withdraw. That won’t be instant.
You can withdraw a portion of your funds with a cap this way, where we do a live P&L, get a rough estimate of your withdrawal balance and allow you to withdraw a portion of it.
At 3:31 pm market had already closed when I had placed the withdrawal request. I have a different point of view and sorry no offence but I am not buying that it can’t be done. No is not there in my dictionary if I were designing it. I believe in - there is always a way out. I am sure it won’t be easy. I know there might be some legacy issues that would come up the way and the system need to be restructured and reimagined and certainly it would be painful for the developers. But ‘can’t be done’ is never an answer. It’s mere an easy escape. No offence again. What is the cost implication and what benefit ratio matters on when to do. If you don’t do it someone else would do it and take the lead. That’s the evolution process.
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Yeah, but when I’m committing something on a public platform, I can’t commit the sun & the moon. I have to be cognizant of the dependencies and then tell you something is possible/not. If the Exchange margin files come at 5.30 or 6.00 pm, how do I determine the exact EOD margins for the carry forward positions at 3.31?
We’ve never escaped or shied away from improving on our products and/or services keeping our client interests in mind. But you’ll have to understand that we don’t function independently, there are various dependencies and we’ll have to commit after factoring in all these external dependencies.
As I said, we’ll do our best.
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Sir, can you also put toothpaste back in the tube?
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Okay that made me chuckle 
Maybe you misunderstood me. The reason I am interacting with you guys here is that I know the team is constantly working to improve the products and services keeping users’ interests. And my comments should only be taken as constructive feedback. Please note I am getting involved in discussions and contributing my thoughts with your team is because I know the team is listening. I am not wasting my time with HDFC Securities and the likes.
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Can anyone please give August update to this thread?
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Maybe there are waiting for one year anniversary of the announcement 
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Many many new regulatory things are coming and we are prioritizing to handle those things, said that we are working on instant with drawl but can’t give any ETA.
Hello,
Can anyone please give September update to this thread.
Will take some more time, so many regulatory changes are happening at same time.
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Any update on this one? Now we are not even getting the payout on same day of successful processing.