Zerodha Coin payment

How to pay for an order placed in Zerodha Coin,

  • They gave me HDFC account no, but it is alpha numeric. Should we set the payee as merchant in the HDFC netbanking app?
  • What would be the merchant name? Is it the same as Beneficiary name that they send in the email i.e., INDIAN CLEARING CORPORATION LIMITED?
  • How can I verify that I sent the amount to correct account? Is there a place that I can see that the test amount sent is reflected? I don’t want to send large amount to wrong account and end up starting another refund process with the bank.

Refer to this article; everything has been explained here

If someone can not pay for lumpsum MF order via neft - your system will automatically cancel the order …will it take 6 working days to cancel that order? or there is another way to cancel it faster? Also is there any penalty for placing an order and unable to pay?

The order will be deleted by the exchange after t+5 working days, there is no penalty, it all just works on fifo basis.

What happens if an order can not be filled due to lack of funds transfer ? for example order was for 2 lac but customer transferred only 1 lac by mistake …so order will be filled for only 1 lac worth of units or the order will be completely rejected and customer will get 1 lac refund ? if customer get 1 lac refund - after how many hours/days he gets refund?

Also if customer transfer 1 lac more - next day - will it execute that order of 2 lac?

Hi @curiousvi, If partial funds are transferred against an order, the funds will not be mapped to the order. Further, the transferred funds will be marked as unmapped and will be refunded back to the source bank account within T+4 working days.

Additionally, in order to ensure that the NEFT RTGS order is processed, the funds must be transferred equal to the order value. Multiple fund transfers can not be mapped against an individual purchase order, however, single fund transfer can be mapped against multiple purchase orders. Please refer to this for more details.

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