Is Zerodha utilising our margin money for additional Income?

I feel Zerodha utilising our margin money for additional Income by delaying funds payout.

Reasons.

  1. Delay in fund pay out request. Other brokers have an option to receive the pay out the same day, but zerodha credits the amount next day, so a loss of 1 day interest for savings account investors.

  2. It has modified the same day funds in and same day funds out request. It is now making it compulsory for an investor to keep the funds with Zerodha for at least two working days.

  3. Discouraging pledging of MFs.

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Unless it is 3 in1 account, that is not possible, if you want funds to hit on same day then you can link your HDFC bank account to Zerodha.

This is due to our process of reconciliation where all funds are only confirmed after one day.

We are working on our new DP process to go live after which we will allow this, this will take a month or two.

Unless it is 3 in1 account, that is not possible, if you want funds to hit on same day then you can link your HDFC bank account to Zerodha.

I hold a HDFC bank account mapped as primary account, but the payout request entered at 6 pm also, I receive the funds to my account the next day. I do a bank to bank transfer from my net-banking account instead of a pay-in entry using kite/console . Can you please explain linking?

Discouraging pledging of MFs.

We are working on our new DP process to go live after which we will allow this, this will take a month or two.

This is going on for years now. This is the most sort request by a majority of Clients. You can initiate a poll on this to understand the client’s dissatisfaction.

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Most of the days it will hit on same day unless there is delay in any process due to exchange delays sending files, which can happen sometimes.

Yes, this is one of the most sorted request and is also one of our top priority but as said once our new DP process is active we can take it live.

Never received it the same day. Is there any time frame like before 4. etc ?

One should get before 12 am.

I have linked HDFC savings account with Zerodha.

I have NEVER received the payout into my bank account before 12 AM on the same day, even when I place the request at around 4PM. I always receive the payout in my bank account next day between 7AM to 9AM.

However I do receive SMS from Zerodha at around 9PM to 10PM on the same day that says the payout request has been processed successfully.

siva , i asked this pledging liquid fund 3 years back as a client we r loosing our profit percentage because of SEBI , lot of client are really dissatisfaction about this request to zerodha , i really dont know anything behind on this to provide this service to client ,
really i am humble waiting for PAYTM money to come , they r bigboos in mutalfund holding , they already replay to us come with full fledged , i am paying a brokerage every month as 20000 to zerodha even the margin r increased we r forced to make up our return in anyways , forward this message to Nitin … if paytm providing i will move definitely i dont care,
i really loos my patient , i belive your words from 2017 when you will launch ,where we arein pledging , if you dont want client tell openly we will move to other broker , there is lot of broker providing this service , tell frankly we will not provide this service why you are wasting our time

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One should get before 12 am.

Can you please look into this, any mischief by hdfc bank.

Unless it is 3 in1 account, that is not possible

Does it work for IDFC 3 in 1 in that case??

Actually 3 in 1 A/c from any BANK like AXIS DIRECT, ICICI, HDFC even upcoming PAYTM BANK are best.
If you we have trading A/c with them as 3 in 1 A/c.
our cash will remain in our A/c and in INTRADAY trading P&L only amount will Dr or Cr PLUS that day interest we get 4% per annum which we all know would be beneficial for all of us as our IDLE cash give interest with broker don’t gave(Especially intraday trading get whole month interest on trading balance ).
ZERODHA 3 in 1 A/c has not this facility and not only ZERODHA other broker also gave us payout through E cheque which further processed by issuer BANK and in above case zerodha process our payment late after working hrs and which bank do not process on that day and it will process on next working day morning.

:slight_smile:

I think zerodha promoting liquidbees by preventing mf pledging.

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Not possible for paytm also, it is just a payments bank and not a regular bank.

@siva after converting our zerodha a/c into IDFC 3-in1 account, it is still not acting as HDFC or Axis 3-in-1 account which is a seamless user experience.

  1. Will it ever happen? Yes or No
  2. If yes, by when?

Can Zerodha at-least consider preferential payout for high value margin like >10 >25 lakhs etc, as a day’s delay costs considerable interest.

Ya, we plan to do it in phases, but no ETA yet.

Even today I recd. the payout in hdfc bank a/c at 25/06/2019 9.00am for a request placed yesterday at around 1 pm.
Can you please verify.

There is absolutely no use of 3-in-1 account with zerodha-idfc bank.