We’ve optimized our payout process for our clients to receive payouts sooner than usual. This is for clients who have requested payouts, have sufficient funds and have neither traded nor have any open positions on the payout processing day.
To explain with an example, for stocks sold on a Monday, payout from the Clearing corporation is received on Tuesday. When clients requested payout on Tuesday, their requests would be processed Tuesday night, upon completion of the trade process after which they would receive credits on Wednesday morning.
Going forward, we will process one set of payouts early evening on Tuesday, to ensure clients receive payouts on Tuesday evening itself. However, this will be for clients who have not traded or have any open positions on Tuesday. If someone’s traded/has open positions, we’ll need to verify the clear balance that can be paid out, which can happen only once the trade process is done and the ledger entries are updated.
In addition to this, we’re also working on an instant payout (I know it’s been long overdue), the details of which I’ll update once we’re closer to launching.
Yes, ASBA for secondary market was implemented from January 01, 2024. We’ve done a few test transactions and are working on making necessary changes internally to be able to offer this to investors. It will be optional for investors. If you’ve enabled yourself for ASBA based trading, you will no longer be transferring/receiving funds to/from your broker. Transactions will be settled directly with the CC (unless there’s a devolvement to the broker). We should be able to roll this out in the near future.
Great to hear👍
eagerly waiting for this great feature to launch
Please avail it sooner , many of my known are also waiting for this to use and zerodha would be first probably.
Hi,
Is this feature rolled out yet? I sold some shares on last Friday and got the funds in my Zerodha trading account today morning. I placed a withdrawal request at arround 3 pm but the funds are not reflecting in my bank account yet. Same thing happened in last week when some of my funds were lying idle with Zerodha, I did not take any trade on Friday and raised a withdrawal request but funds were not transferred to my bank account the same day, they came next day morning
Hey Amit, yes, this has been in place for 5-6 days now. I’m confused with the chronology of events.
If you’d sold shares on Friday and placed a withdrawal request at 15:00, we wouldn’t have processed your request since the settlement wouldn’t have happened.
Even the early payouts we processed yday, clients have received funds before 22:30.
I have mentioned 2 incidents in sequence. Please read it again to know the chronology. Nevertheless I have raised a request for withdrawal again today. Today’s case is like this - Added funds today morning through kite app and took the trade. Then added more funds in anticipation of one more trade but the opportunity didn’t come and so didn’t take trade 2. At 3.30 pm did put a withdrawal request only for the new funds added second time today for the second trade which I didn’t take. I will keep a close watch on if funds are deposited back to my bank account today itself
Funds added during the day cannot be withdrawn until the next day due to reconciliation. Explained here.
Let’s say if the funds were added yesterday and you didn’t trade today and have no open position, you can expect a faster withdrawal process as per the thread update.
Well, then this case should be covered as part of faster withdrawal in my opinion. While waiting for a right trade I need funds right away in my trading account so that I can take a trade. If I don’t add funds beforehand then few seconds of time required for adding funds just before taking a trade almost always results in loss of trading opportunity. Give this a thought as well…
We’re working on offering ASBA based trading in the secondary markets, I think it’ll suit your use case. Funds remain in your account, lien marked to the CC. If the trade goes through, funds get debited, else they continue to remain lien marked.
Hard for us to put a timeline at the moment since we’re awaiting clarification from the MIIs too. But we should be amongst the first ones to offer this to clients.
I had some amount lying with my Zerodha account from yesterday morning. I took a trade today but closed the positions by 3 pm and then put the withdrawal request by 4 pm today, will I get the funds in my bank account by today end of day? It’s as if I didn’t trade today because I closed the positions before market hours. Please clarify
