Zerodha Fund Transfer

If you are a client of Zerodha (or any stockbroker for that matter), you will need to transfer funds from bank account to your trading account (and vice versa). Historically, the fund transfer process has been a pain for the traders and investors community. However, with time and technology-based innovations, the Zerodha fund transfer process or transfer of funds process, in general, has seen a major makeover.

If you have completed the zerodha demat account opening process, you will be provided valid access to this system for your account transfers. Let’s have a quick look at how it works:

Zerodha Fund Transfer Review

This needs to be understood that whenever you open your trading account, you are required to deposit funds at the onset before you started with the stock market trading.

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Hidden Fact: Not many broker executives will mention this, but post depositing funds to your trading account you can transfer it back to your bank account after 3 weeks (or 21 days) post depositing, in case you need. 

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Zerodha Fund Transfer – Deposit Funds

When it comes to Zerodha fund transfer, there are different modes the broker allows its clients to use. We will discuss all these different methods in this detailed review for your reference.

Zerodha fund transfer UPI

UPI or Unified Payments Interface is a payment transfer mechanism using which you can transfer funds from Zerodha bank account for free. This mode of Zerodha fund transfer is instant in nature and can be done using a smartphone as well.

This mode of transfer can happen through the Zerodha Kite or even through a UPI-enabled mobile app. You can even use the Zerodha Kite Mobile app for these funds to be transferred. Here are the steps you need to follow:

• Navigate to the ‘Funds’ section and click/tap on the ‘Add Funds’ feature.
• Among all the payment modes available, select the ‘UPI’ mode.
• You will need to enter your UPI Id from which the transfer needs to be made. In the next page, you will be prompted to check your mobile phone and visit the UPI app for confirmation.
• A UPI pin will be generated and you will need to enter the pin in order to approve the request.
• Once the correct pin has been entered, the fund transfer will happen on the Zerodha payment page.

Charges: Zerodha Fund Transfer through UPI

None, this mode of funds transfer is completely free.

Timeline: Instant

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Zerodha has recently partnered with IDFC bank and is offering a 3 in 1 Demat account. You would need to open a separate bank account and integrate those details into the trading account at Zerodha.

Funds transfer process in such a set up is much easier.

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Zerodha fund transfer Payment Gateway

With this mode of funds transfer, you can use the Zerodha kite or Zerodha Pi trading applications to transfer funds. This can be done using the instant payment gateway facility where each transfer attracts a charge of ₹9 plus taxes.

Here is the list of banks that are allowed for funds transfer under this mode:

 

As per the broker claims, they are trying to add up new banks with time.

Charges: No charges levied by Zerodha, Bank charges may apply

Timeline: Instant

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Zerodha fund transfer IMPS/NEFT/RTGS

If you want to use the more conventional and convenient mode of the bank to bank transfer using either of IMPS (Immediate Payment Service), NEFT (National Electronic Funds Transfer) or RTGS (Real-time Gross Settlement), then you may choose to do the same as well.

In order to use either of these methods though, you would need to know the bank details of Zerodha.

Here are the details for your reference:

 

 

All three modes discussed in this section have different turnaround timelines for the actual transfer to happen.

NEFT/RTGS Charges: No charges levied by Zerodha, Bank charges may apply

NEFT/RTGS Timeline: 2 to 10 hours

IMPS Charges: No charges levied by Zerodha, Bank charges may apply

IMPS Timeline: Within 5 to 10 minutes

With RTGS or NEFT modes, you can transfer a maximum of ₹5 Lakh in a single day.

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Zerodha fund transfer by Cheque

You can also choose the use the age-old method of dropping a cheque which generally takes 3 to 5 business days to process. As far as charges are concerned, it is absolutely free to use.

Here are the bank account details you need to use for using the cheque drop method for Zerodha fund transfer:

 

You may choose to courier the cheque to Zerodha’s headquarters at the following address:

Zerodha, 175/176 2nd Floor, Bannerghatta Road, Bilekahalli, Bangalore 560076

However, if the cheque bounces for some reason, a charge of ₹150 + GST will be levied on your account.

Cash or Demand Draft transfer methods are not allowed by this discount broker for funds transfer.

Charges: Free

Timeline: 3 to 5 Business Days

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Zerodha Fund Transfer History

You can have a quick look at the Zerodha fund transfer history by using Zerodha Backoffice.

Here on the top right side of the screen, you will be able to see ‘Funds tab. Once you click there, you need to look for the ‘Statements’ sub-tab.

Then you are supposed to select the trading segment along with the dates you are looking to check the history of. Then click on the ‘View’ button.

All the transactions in terms of funds transferred in and out of your trading account will be displayed to you. You have the option to download these transactions to your system as well.

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Zerodha Fund Transfer Without Charges

If you are using the Zerodha fund transfer process, most of the transfer methods including UPI, Cheque, RTGS, Neft are free in nature. The UPI method has recently been made free for the first 6 months. The broker, however, claims that the fund transfers through UPI may continue to be free even after that.

Methods such as IMPS, the Payment gateway may bring in some bank-related cost.

However, even in these methods, Zerodha will not charge you anything for these fund transfers.

The timelines of fund credit, however, may vary from one method to another.

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Zerodha Fund Transfer Limit

Each Zerodha fund transfer method comes with a corresponding transfer limit that you need to take care of.

Here are the details for your reference:

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Zerodha Withdrawal

Zerodha Withdrawal update offers great benefits and allows people to withdraw their funds within the same day. However, in the case of Payins that are made during the day, one can withdraw the fund only when it updated in a total balance.

To initiate the request for Zerodha Withdrawal you need to login to the Zerodha Console.

After logging in, click on the ‘Funds’ tab and then select ‘Overview’.

Here you can enter the amount that you want to withdraw and click on proceed.

The minimum amount that one can withdraw at a time is ₹100.

If you are looking to withdraw funds from your account in Zerodha trading, there are specific aspects you need to take care of.

Zerodha Withdrawal Time

Zerodha offers high convenience to its customers and helps in processing requests from Monday to Friday.

In the case of the Equity, Derivatives, and Currency trading account, you can place the request at 8:30 PM while for the commodity trading account one can request at 9:00 AM in the morning.

Make sure you place the request before the time mentioned above so that it gets processed on the same day.

Zerodha Withdrawal Policy

One can place the request for withdrawal or fund transfer from your trading account to a bank account by logging in Zerodha Q or Zerodha Kite.

There are no charges for withdrawal or transfer of funds done from Zerodha.

Get to know more about the Zerodha Withdrawal like timings, rejection, and processing of a request to avoid any trouble in placing a request.

 

Zerodha Withdrawal Request Processed

Also, since Zerodha put efforts to offer complete support to its customers and prevent them from facing any issues, it processes the request as quick as possible.

Zerodha bank with HDFC and so if you have an account in HDFC bank, you will get the required fund in your account within 3-4 hours. For an account in another bank, it takes generally 24 hours to transfer the fund.

In case, you request the Zerodha Withdrawal or fund transfer after the time mentioned above, then it will process on the next working day.

In case the processing of withdrawal requests is delayed then do not panic, as there could be many reasons associated with the same.

Some of them are:

The third Friday of every month involves certain other activities like the expiry of global indices. If the withdrawal request is placed on Thursday then those requests are being processed on Saturday morning.

Another time, Zerodha receives the trade file late that results in the processing of request only on the next morning.

Zerodha Withdrawal Request Rejected

If the request for Zerodha Withdrawal or Fund Transfer is rejected, then it could be because of one of the following reasons mentioned below:

• If the withdrawal request is higher than the balance available in the equity or commodity account.
• In case, you have a trading account in both equity and commodity and have a negative balance in any one of them, it will lead to the rejection of your withdrawal request.
• Thus, it is good to clear all your dues before placing a withdrawal request.
• Payins that are made during the day are not withdrawn on the same day. You can transfer or withdraw the fund only after balance reconciliation that is generally after one day.

Zerodha Withdrawal Charges

There are no charges for the withdrawing fund from any of the accounts (Equity or Commodity or both) in Zerodha. Just make sure that you placed the request before time to get the process quickly.

 

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Zerodha Fund Transfer FAQs

Here are some of the frequently asked questions around the concept of Zerodha fund transfer which most of the traders may have. We have tried to come up with most of such queries and the corresponding answers for reference:

Can I use bank accounts that are not linked to my Zerodha trading account?

No, you cannot. Only the bank accounts that have been linked with the trading account at Zerodha are allowed to be used for any sort of Zerodha fund transfer.

Can I link more than 1 bank account with my Zerodha trading account?

Yes, you can. There can be 1 primary bank account and 2 secondary bank accounts. With your secondary accounts, you can only transfer money from your bank account to your trading account. However, only your primary bank account can be used for withdrawals from your trading account.

What do I need to Use UPI for funds transfers?

You need to download and install a UPI fund transfer app on your smartphone. The UPI Id you are using must be for the bank account that is integrated into your trading account in Zerodha.

Can I change my Primary bank account linked with Zerodha trading account?

Yes, you can do that! All you need to provide is the following documentation copies of:

• Canceled Cheque
• Bank Passbook
• Account Statement

You would need to send these to Zerodha’s business address.

What is the Maximum Amount I can transfer using UPI, NEFT, RTGS modes?

As per the current regulations by RBI (Reserve Bank of India), the maximum amount in a single transaction and the maximum amount you can transfer in a day is capped at ₹1 Lakh.

With NEFT or RTGS, you can transfer a maximum of ₹5 Lakh in a single day.

We suggest you check with your bank customer support to know the actual values since it may vary from one bank to another.

How can I set up a UPI Id for myself?

With so many funds transfer apps out there such as Google Pay, PhonePe, Paytm you just need to provide your mobile number linked with your bank account in any of these apps. The app will retrieve your bank account information in the backend and set up your account in the app for funds transfers in the future.

Zerodha fund transfer can also be taken care of using any of these apps.

Can I do Payout using UPI mode?

No, as of now, only the Payin facility is provided under the UPI mode. For withdrawals, you will need to use the above-mentioned mechanisms only.

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Zerodha Fund Transfer Benefits

With this broker, there are a few benefits that need to be known:

• The broker has embraced some of the latest fund transfer techniques such as UPI making life easier for the clients.
• With a 3 in 1 Zerodha demat account provision, the fund transfer process becomes pretty straight-forward.
• The broker allows some of the fund transfer modes that are completely free in nature.
• There are multiple trading applications using which the funds can be transferred and there is no dependency on any single system.

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Zerodha Fund Transfer Problems

Here are some of the concerns you need to be aware of when it comes to fund transfers with Zerodha:

• Instant payment gateway method for transfers is not free.
• Since Zerodha has a limited offline presence, the option to get the funds processed in cash with a receipt is not there.

With this, we wrap up our piece on Zerodha fund transfer hoping we were able to help you with most of your queries around the concept.

In case you are looking to get started with share market trading or investments in general, let us assist you in taking the next steps ahead:

 

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More on Zerodha:

If you wish to learn more about Zerodha, here are a few reference links for you: