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
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?
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.
Thank you for replying. Can I earnestly request that at least a plain vanilla platform is made available at the earliest. Bells, whistles, seamless remittance part can be added later. A lot of your clients have been eagerly awaiting all thro’ 2020. Cheers!
@nithin bhai when is the planning now to bring the international stocks platform. Atleast say when is the target to launch in zerodha in terms of which month in 2021. We have vested , stockal options but we want to keep in zerodha platform. Thanks
@nithin I understand the integration is taking sometime. A lot of us are very familiar with the environment in kite. Would it be possible to integrate the NYSE and NASDAQ charts in kite. We can use kite as our charting platform and use IB or others as our brokers for order placement in the mean time. If it does not make business sense we would be happy to pay for the charting service till we get the brokerage integrated. Thanks.
But still there should be some target date correct. Also can’t initial version be released without low or optimized remit options and use current available framework so that those who want them to it, they can.
Optimization can be done even once launched.
No, remittance bit determine the kind of broker, clearing firm we have to choose, once we get solution it won’t take much time to integrate with US brokers.
So I have been using this Forex card for my international spending and it has 0% markup or any charges,
The name of the startup is NiYo card. They provide Visa stated exchange rates at the date of the transaction with no markup.
They have partnered with DCB Bank. I am not sure as to the paperwork/ forms needed to send money for investments abroad, but still posting here if it in case it helps zerodha to solve the remittance problem.
