Instant withdrawal feature

Zerodha
83

Can anyone please give June 2021 update to this thread ?

84

Couple more months :+1: :slight_smile:

85

Long time no see :slight_smile:
I was fighting the war alone mate :zombie:

86

@siva-reddy From Aug 1, 2021 NACH will be available 24x7 including weekends and holidays. Will withdrawal requests be fulfilled over weekends and holidays and off-market hours too?

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87

koi to kuch bolo?

88

The end of day payouts we process at present are being credited the same night (using the 24x7 NEFT facility).

Processing the payouts multiple times on a given day or in realtime during market hours is on our list of features to launch. Features directly related to the trading platform have been our focus recently and some of these ancillary features have taken a backseat. Concurrently developing payment-related features can also be difficult since there are dependencies on many moving parts. We’ll try to push the instant payout feature out soon.

1 Like
89

it doesn’t speak about weekends and holidays?

As you know from Aug 1, even mutual fund redemptions, salary credits, transaction refunds, FD maturity payouts .etc. everything that is not happening currently on holidays and weekends, will be possible.

So that’s why I asked what about the payouts over the weekends, for example, after redeption T+2 falls on Saturday, the AMC would pay the amount to Zerodha trading account from Aug 1, but will Zerodha allow me to withdraw it or make me wait till market opens on Monday to withdraw?

This is my question.

90

I initiated a payout request and I am getting following message -

You should receive the funds in your bank account by 2021-06-25 12:00:00 , provided there is sufficient balance after the end of today’s trade process.

Can you please update this things on the page - Same day fund withdrawals & update on quarterly settlements – Z-Connect by Zerodha , the page which google shows as the top when anyone is searching for this feature. The last update is of 16 December 2019. People have no idea and are still asking for updates there…

91

is it rolled out?

92

Not yet, will take few more months.

93

Instead of waiting for this better is to even opt for IndusInd Bank Multiplier Max auto sweep FD ac which gives 6% as of now & link it as Secondary Ac in Zerodha. As amount of up to 5Lakh are covered under Deposit Insurance so shouldn’t be that scary to think of IndusInd as an alternative of Debt / Liquid Funds.

94

:frowning: :frowning: :frowning: :frowning:

95

64 days to go :zombie:

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96

Can anyone in this forum time travel to the future ? Cause I want to know when this will happen.

4 Likes
97

This is WIP. Will be live soon. Unfortunately, can’t give an ETA :sweat_smile:

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99

14 days to go :zombie:

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100

more than 2 years have passed since this announcement.

Any Updates ???

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101

ab to 26 january bhi chala gya. Konse mahurat ka wait kar rhe? :zombie:

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102

More than 2 years and the wait continues…

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103

Something like icici direct’s e-atm feature could be very useful