True that Nithin. That’s why I guess a huge number is waiting for you guys to roll out the features , rather than moving to other platforms.
Since you are back on this thread, maybe you can give a clear and better picture on timelines for this, please.
Ah, this will take more time. Can’t give a timeline yet.
I know the whole thing is still in progress but I hope there would be a capability to transfer existing stock holdings from other brokers to your setup? That would be helpful for people like me who would prefer to shift to zerodha platform once it is up and running
Won’t think it would be easy as there is no concept of Demat and it seems it involves much higher costs.
Hi Siva / Nithin, Appreciate the sterling work you guys have done with Zerodha!
I realize you are trying your best to bring out a full fledged solution that allows investing in US Securities and that remittance (TAT/friction) is a teething problem.
From the thread, I also learn that there is an interim solution planned.
Would it be correct to say that the interim soln would be rolled out by the end of 2020?
I am not asking exact dates but if you were to tell me that this will take 12-15 months, I would RATHER open with a US broker directly and then move over to Zerodha/Kite once you have the full product. Whereas, if something is on the anvil even an interim solution that doesn’t solve the remittance TAT/Fee (say in 2 months), makes a lot of sense to wait. Can you guide me please?
Thanks in advance
Can’t give exact ETA but it may take another 2 to 3 months.
Thank you so much for a prompt reply. Appreciate it. Having waited this while, I will wait these 2-3 months eagerly for your offering (even if it doesnt solve remittance TAT/friction totally).
All I request is 1 thing - If in case, you believe, this is going to be further delayed say take a year or you guys decide to drop the project altogether, please let your existing clients/thread users know immediately so we can look at other options like IB/TDA etc. Honest/speedy communication of even bad news is more palatable than no communication!
We are working on this, definitely in our things to do.
Thank you! Since Zerodha is domiciled in India, would aspects of Estate tax withholding (beyond $60,000) upon demise of account holder charged by US brokers be applicable on Zerodha clients in India?
I have no clue, maybe some broker who is already offering US stocks in India should know.
Siva, Probably you guys are already aware of this. But from what I see, only 3 allow an online remittance to US without any paperwork - ICICI, DCBRemit, DBS. ICICI has the highest friction (fx markup+txn) whereas DBS is the cheapest/ extremely competitive (near IB rates). Unfortunately, DBS for some weird reason does not allow remittance for S0001 purpose code in A2(LRS) for investing purposes thro the online app and expects us to visit the branch which makes it no better than PSBs. If DBS could offer/enable the purpose code of investing on the app, they would be the fastest, cheapest & most convenient by a country mile. This will solve your remittance problem (TAT/friction). That may require Zerodha to get DBS India to just update a line of code on the app but 100% worth it considering its within the laws and competitors like ICICI already offer it.
Will inform our team to check, thanks.
I know zerodha always thinking for small investors that’s why it take long time but I am sure it come soon and again zerodha make mile stone. Hope new year Jan we can buy American stock.
HDFC also allows online remittance.
for BOB, you’re required to fill a form and can send it via mail. Cost is very high though - ~2000Rs for a single remittance!
Hi Siva, I followed up with DBS Digibank & they said currently they do not allow remittances on capital account (S0001) for investing abroad & allow only on current account (other LRS options like payments etc). They said they were working on rolling out even S0001 capital account remittances.
Can you share any update on your interim version (to inv in US securities) launch whether its on track for January launch please ? AirBnB’s IPO is later this week & with a tepid leisure sector might be a good contra opportunity if the platform is there in beginning of Jan 
Hi, Any chance, the rollout of US securities we be sometime in January (interim solution) at least?
I saw this reply in a different thread -
Also, just got to know that my bank had started Outward Forex Remittance via Net Banking -
I wanted to ask, are there some specific banks that still remain (in terms of supporting outward forex remittance via Net Banking systems), for which Zerodha is waiting?
No, may take couple more months.
Whenever you take out this feature please make sure that it doesn’t alter current user interface of kite and console and also don’t add unnecessory noise to current workings.