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.
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What is the cutoff time for same day payout?
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Isn’t direct ASBA/UPI facility will be implemented in near year for all for trading in secondary Market?
And zerodha ready to launch this ASBA the facility or it will take more time?
@mohitmehra Could you help understand the process on ASBA and the timelines?
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.
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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
Please clarify
Thanks