In future in case i wish to move away from Zerodha Coin (my mf are in demat format) to another DP (ICICI Direct or HDFC Securities, Kotak Security etc ) . Will this be possible ?
What would be the procedure ?
Reasons for thinking of moving away from Coin. I dont see any value add provided by Coin.
SIP is cubersome ( imagine you have 5 MF with differ sip amount at different dates then you need to set up 5 SI to your trading account 2 days before the SIP date) why cant i just have direct debit from my bank account similar to one provided by 3 in 1 accounts by bank ?
The dashboard is simple does not show any analytics, event the NAV values are not updated regularly. I see updated value in the MF AMC website but Coin still shows old value ( I know they run a batch to update it but it does not sycn with AMC time )
Yes. You can transfer Mutual Fund Units from one demat account to another demat account (i.e., transfer between DPs of NSDL) or from demat account of one depository to demat account of another depository except for Mutual Fund Units which are under locked-in (say ELSS units).
If you are thinking of transferring the units then you might not be able to continue your investments with the companies which you have mentioned above as the units are of direct plans but the distributors you have mentioned only sell regular plan.
You can create a standing instruction from your bank to Zerodha’s account before the due date of the SIP. This way you can ensure that the amount is transferred to your trading well before the SIP order is placed.
It would be helpful if you could provide some feedback related to the details that you wish to view in the dashboard. Also, can you please specify in fund there was a delay in NAV updation ?
Is there a way to move out of COIN without exiting the fund (And bear the exit load ) ?
I understand that i can anyways transact on my mf through myCAMS / MFUtility etc.
You would have to check the same with the platforms(mentioned above) if they accept units in demat form. If not, then you would have to rematerialize all your units and then further enquire with them about viewing the units on their platform.
There is not problem from myCAMS or MFUtility (they support both demat and non demat format). I can already see my investments made through COIN in these platform and see the options to transact (Buy, SIP, STP directly from bank account )
My Question is from COIN side. What is the process to exit COIN ?
Yes that’s true … The links to purchase , switch and redem are disable for MF in demat , but are available to MF i have purchased directly with the AMC
