SWP / STP in Zerodha

@Neelesh If it takes 1 Year , straight away please inform us that it will take 1 year or 2 yrs or 5 yrs . Why every time that it will be rolled out shortly, and then not standing on your words? How come you able to simply say that " in a week, it will be rolled" and then simply it takes months and months.

Please inform us the reality, so that we can keep our expectations set accordingly.

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@AbhishekAnand for your own peace of mind,
please do NOT rely on any proposed timeline.
Every proposed feature / timeline is subject to change.

Unfortunately, the folks who share upcoming features / proposed timelines on this forum
seem to not emphasize this ā€œcurrently proposed, subject to changeā€ aspect strongly enough.

Hereā€™s the observation from a previous discussion on a roadmap to showcase the backlog with timelines and confirmation of it from the ultimate source :wink: .

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Itā€™s been 7 years.

Hi @Neelesh , Could you update on roll out estimated date?

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@Neelesh Weā€™re all keenly waiting for STP. Please provide an accurate timeline. We investors also need to make plans. We canā€™t keep postponing like you do.

@nithin Weā€™ve trusted the platform for so many years. Itā€™s so disappointing to see that despite doing well as a company, you clearly under invest in your front-end Tech and breath of features. You still donā€™t even offer basic features like STP. Additionally, youā€™ve created a high cost barrier for switching out of Coin and thatā€™s straight cruel. The faith in Zerodha has slowly eroded. Iā€™ve many friends who have been contemplating moving out of Zerodha recently.

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We regret the delay here, since these are in-house STPs, to make the process smooth we decided to first migrate from manual file uploads to API integration for order status updates. We decided not to have a separate STP creation page but rather have the option to power SIP by the SWP; any SIP powered by an SWP will have the STP tag. This STP will be powered by UPI autopay. Currently, we are rolling out the app beta version with, in-app UPI payment facility, which will allow you to pay on the UPI screen within the app. Post this, we will be launching UPI Autopay, which will support your STP and will be a one click process.

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@Neelesh Does it mean stp will be limited to 1 lakh per day as it uses upi?

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Yep, the debit limit with upi will be 1 lakh, post this implementation we will also work on eNACH SDK which will help setting up for more than a lakh as well.

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One slight inconvenience, using Demat mode for STP will be. There will be multiple transactions showing in the savings account for debit/credit legs of STP transactions. This will surely increase the turnover of the savings account. :stuck_out_tongue:

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@Sumit_Pandey you will be get personal loan :joy: :joy: :joy: :joy:

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@Bhuvan @Neelesh -

Do you support having an SWP go into a secondary bank account instead of primary bank account? If not now, any plans to in the future?

Yep in the future we will provide an option to select the bank, this is on our todo and will be live once API modification/ Real time modification of bank account is allowed on the exchange.

@Neelesh
I agree with previous comments that Zerodha has underinvested in a mutual fund platform. Many people moved to Groww just for these MF features. Even though MFs donā€™t bring in direct sale for Zerodha, itā€™s a customer retention tool. Currently Coin, itā€™s an Achillesā€™ heel for Zerodha. I am sure Zerodha can pull off MF and bring in more features asap, provided they give importance to Coin platform. At least STP should be there asap.
First request for STP, SWP was made in this thread 7 years, itā€™s a high time Zerodha prioritises this.

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This is so true .It looks as if Zerodha doesnā€™t give priority MF platform. Many of my friends who are newbies to investing is not preferring Coin because of the lack of features and preferred Groww . As @dcoolsam is mentioning , we believe that zerodha can pull off and be on par with other competitors and give value to us .
@Neelesh @nithin

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Hi @dcoolsam @AbhishekAnand, yeah, we have been working on redesigning the Coin platform and providing all the relevant features as soon as possible. On the priority pipeline, by the end of this week, we shall be live with weekly SIPs day preference and conditional orders for buy and sell.

We are planning to roll out the STP feature by the end of June. This got delayed due to the revamping of the backend process and changing the tech stack completely to make it an automated system and the dependency on UPI Autopay. SWP is already live. We have been making multiple changes to the Coin platform and will be posting an update on all the new features on this thread shortly that we made live in the past 3-4 months. Meanwhile a complete revamp of Coin has been going on, just some more time and we shall be live

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@Neelesh i am waiting for this one revamp of coin

thanks - please dont forget this thread
Dont Forget GIF

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@Neelesh

Just like in-app UPI , please also make in-app console where we can see the console in the app itself. is it in your checklist at all? Please let us know.

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@Neelesh

You mentioned weekly SIPs day preference will be live by end of this week.

Are you on track with that? Can we expect to see that today or tomorrow?

Hello Guys

Can anyone help me with this Mutual Fund Holding Discrepancy. It is asking for purchase date , from where can I find this date? @Neelesh