Why can't I Link Folio no created in Zerodha COIN platform in AMC Site


#1

Hi Zerodha/Coin team,

I have invested few Direct Mutual funds in coin Platform and got allotted units with Folio no created

Just to take example i have purchased “Kotak Select Focus fund -direct -growth” , it looks all fine and i can see [folio number with “/” and two digit no] created in dashboard.

but when i open Kotak AMC site and tried to create new user it asked for me Folio number and i have entered the folio number that shown on coin platform dashboard with and without “/” digit, and AMC site is not accepting that folio no and giving this message
"User creation/Mapping is not applicable for folios as they contain only Demat Schemes".

So my question is tomorrow coin shuts down and i want to claim/redeem mutual fund then how can i do that as that folio itself not recognized by AMC site?


#2

Hi @sbussa
as per your query of shutting down, which is definitely not going to shut down. its safe and secured u don’t have to worry.
but taking your query into consideration if coin shuts down which is anyway not going to happen, if so it does you will get it what is yours ZERODHA will take care of it.:slightly_smiling_face: HAPPY TRADING


#3

@sbussa

For all purchase orders which are placed through COIN, the units which are allotted will always be in demat mode. So, you can check your demat account statement which is a valid proof of investment. The AMC provides the folio details for all purchase transactions and the same is reflected in your portfolio on COIN.

But, the problem with most AMCs is that they are not able to provide you a statement or validate your investments if the units are held in demat mode so you would have faced an issue mentioned in your post.

Hope this day never comes :slight_smile: .

But, in such a scenario you can approach the depository to help you out with redeeming the units since the units are in demat account. In this case, the depository would be CDSL.


Unable to link Kotak Select Focus Fund folio number on kotak site
#4

Since the MF units are in demat form, will it appear in the NSDL consolidated statement?
Other than Zerodha Coin, where else can we view these units to confirm our purchase?

Regards,
Narendra


#5

AMC statements and CDSL easi.


#6

I experienced the same issue recently. Aditya Birla MF site clearly said they display only non -demat MF folios. For the sake of curiosity, how does obtain AMC’s statement with our holdings in this case?


#7

The AMC would have sent you an email with the statement. If not, then you can check you demat holdings statement through CDSL Easi.


#8

No, I haven’t got a statement even once in my approx 4 months with Zerodha. Í do however, get a confirmation of credit from FT - but that’s about it.


#9

You can write to the AMCs. But in any case, you can check your holdings statements on CDSL easi. We also send monthly transaction and holding statements.


#10

Got it, thanks :slight_smile: