Not in this scenario, Amit. To get payout on the same day, you must have not traded on that day, as explained in the main post.
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Can we get the same on SATURDAY & SUNDAY also?
Ah, not at the moment. Logically, you’re right, your balance hasn’t changed and we should be able to process your payout of 1,00,000. However, the problem is that before we process a payout, it’s imperative that we run the trade process, assess the client’s obligation due/receivable for the day, calculate the clear balance and then process the withdrawal. If a client has traded, the withdrawable balance changes.
The exchanges publishes trades real time on NOTIS, which a few brokers use to do possibly do early trade process and to determine clear balance, but since our trade data is voluminous, we aren’t able to use this facility and have to wait until we receive the EOD files to process the trades. Since this is time consuming, we run a scan of whether clients have traded or not, and process early payouts to those users who haven’t traded since the obligation of the traded client isn’t known immediately.
Today, when clients transfer funds to a broker, they are all upstreamed to the Clearing corporation. To process payouts, brokers have to ask the clearing corporation to release funds and CCs don’t operate on weekends. We’ll see what we can do w.r.t processing payout on weekends. But as things stand today, withdrawal requests collected over the weekend are processed on Monday and you’ll have the funds Monday evening or Tuesday morning.
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What is the time period for getting instant payout, provided I meet all the conditions?
I traded yesterday, and the balance was updated today. I placed a withdrawal request in the morning, but haven’t recived it till now. Already 8PM.
Last week I tried it and I recieved the payout at like 11PM, the same day I placed the request
There’s no real difference between old and new timeline then, because I used to recieve early in the morning before. Now I will recieve it at midnight. Both happen when I am sleeping, so literally the same thing.
Any way to push it to 4PM? the funds the same day atleast then
We’ll announce instant withdrawal soon.
Also the faster fund withdrawal requests are processed on the same day after we receive all the obligation files from the exchanges. Hence difficult to push it up to 4pm. But we’re working on ensuring payouts happen by 7pm from end of next week – we are making a few tweaks in the process to ensure we cut down the time taken by few more hours.
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Good to hear, looking forward to instant withdrawals
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Thanks for the detailed answers and appreciate. I have few more questions. Could you please go through below cases and answer?
Case 1:
- On Wed Opening Cash Balance : ₹ 25,000
- Margin Available : ₹ 25,000
- Loss in Intraday Trading : ₹ 25,000
- Margin available After Loss : ₹ 0
- Added Cash : ₹ 15,000
- New Margin Available : ₹ 15,000
- Again started Trading & booked profit : ₹ 7,300 (PAT)
- End of Day Cash Available : ₹ 22,300 which is less than opening day margin.
Q1: In this case can I withdraw ₹ 15,000 from trading account on Wednesday?
Q2: If I don’t withdraw any amount or cannot withdraw on Wed then how much amount I can withdraw on Thursday ? ₹ 15,000 or ₹ 22,300 if I do Intraday trading on Thursday?
Case 2:
9) Not withdrawn any cash on Wed
10) Thursday Opening Cash Balance & Margin Available: ₹ 22,300
11) Intraday Trading profit: ₹ 25,000 (PAT)
12) Thursday End of day Cash Available: ₹ 52,300
Case 3:
13) On Friday Opening Margin: ₹ 52,300
14) Booked Profit in Intraday Trading: ₹ 30,000
15) End of Closing Balance : ₹ 52,000 + ₹ 30,000= ₹ 82,300
Q3: Cash available for withdrawal placed on Friday: ₹ 52,300. Correct?
On which day Cash will be credited in Bank account? on Saturday morning or Monday morning?