With increase in online banking frauds what is the best way to transfer idle money for short term trading?

With the increase in online frauds, I am worried increasing my transfer limit. I usually took my idle cash out of zerodha account, but as my funds are increasing, it is worrisome to move big money in and out. I am think of parking idle cash in liquid funds, but there is a drawback of waiting 2 days for removing money out of liquid funds.

I wanted to know how people who trade most of their capital how do you manage your idle cash. Do you risk it by increasing your transfer limit or there are other safer ways I am not aware of?

To get more clarity - Are you worried about the balance in your bank account which any fraudster may access or are you worried that when you transfer funds, from bank to say zerodha there could be an issue.

As far as bank balance is concerned, the money is as safe as it can get provided you do the basics as to accessing the website from trusted PC or your own phone, keeping your password and pin safe and secure and ensure do not click on any links you may get in your email and pass on any info to a third party.

With regard to mode of transfer, in India we have three method of transfer IMPS, NEFT and RTGS, in all of the above transfer, you first need to register the beneficiary and only after a predetermined time will the bank will allow the first transfer of funds. Once this is established, things going wrong is minimal.

Even if the funds transfer is not effected through IMPS, NEFT or RTGS, due to system issues, the money will be returned back to your account.

So in my view, banking system and transfers are quite strong among the banks in India.

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I opened IDFCFIRST bank account and converted it into a 3in1 account by attaching zerodha trading account with it. Now transfer of funds is seemless and safe too. You can transfer money to your trading account instantly from savings account. Moving money out from trading to saving account is also accomplished by end of the day if I remember correctly. Also the interest is higher than that of other banks and of course liquid funds. I, for obvious reasons, don’t keep more than 5L in any of such accounts and move cash in and out as per requirement to 2-3 linked accounts.

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I am worried about the transfer limit being set very high. Usually I mostly reduce it to lower number once I make a big transfer.

I have a Salaried IDFC Account. How to convert it into 3in1 Account? Does it require any charges?

Search in zerodha support portal. May even raise a ticket.