Zerodha UPI Fund Transfer process has simplified fund transfer in the stock broking business. After Zerodha many companies has followed the same & have succeeded in implementing proper fund transfer process via UPI.
About Zerodha UPI Fund Transfer
The UPI is one of the easiest and convenient options to transfer the fund from mapped account to your trading account. It is the app based transfer option, with the Zeroadha Kite App traders can instantly transfer the fund.
One of the basic relief in this Zeroadha UPI Fund Transfer method, it doesn’t require any bank details, all things are digitally advanced, and you don’t have to add details of your Zerodha account manually.
But there some rules and regulations you have to take caution before sending fund. According to the SEBI regulations, traders have to maintain separate balance for Equities and commodities accounts. So, they have to use two different accounts to initiate fund transfer.
Zerodha UPI Fund Transfer is great for Small Town Investors
As we all know, today’s investors and traders miss out the payment because they don’t have enough facilities to transfer fund hassle-free, that’s why Zerodha came up with UPI instant fund transfer facility.
With UPI Fund Transfer facility, all types of small and medium investors who lives in the semi-urban and rural areas & are willing to buy and sell shares, but due to lack fund transfer option they never come outside for trading are now able to trade.
Zerodha has opened the UPI doors for everyone so that they can transfer fund at the fingertips in a real-time and hassle-free.
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Top Features of Zerodha UPI Fund Transfer
Now there is no pain for traders and investors to miss out the buying or selling opportunity. With time and technology innovation, Zerodha has moved one step closer towards digitization through three different modes of payments.
Zerodha UPI Transfer
Unified payment interface is an online payment transfer options that allow Zerodha clients to transfer fund from their mapped account to trading account and this mode of transfer can initiate via Zerodha kite mobile app.
Instant Payment Gateway
Traders and investors can initiate this facility by using either Zerodha kite app or Zerodha Kite trading platform. However, the fund instantly transfers to your normal account to trading account, but each transfer a charge of Rs 9 extra.
IMPS / NEFT / RTGS Transfer
If you want to transfer your fund from more convenient and simplest methods that go for IMPS (Immediate payment service), NEFT (National Electronic Fund Transfer) or RTGS (Real- Time Gross Settlement). But, all of these options have different turnaround transfer process.
Important note: Since, Zerodha has a less offline presence, cash and demand options are not allowed for fund transfer.
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How to setup Zerodha UPI Fund Transfer ?
Well, we all are in luck, Zeroadha has now made his facility to all his clients to transfer the fund from their mapped account to trading account. But, before transferring fund via UPI, it is important to learn some guidelines and set up procedure so that we can make payment in a right manner.
The two important things that you know are as follows:
- First, you have download Zeroadha kite for UPI transfer.
- Second, the UPI ID you will make must be with the same bank that you have linked with Zerodha trading account.
Transferring fund via UPI is quite simple. But, there is only one downfall associated with it like you should transfer fund to Zerodha UPI address from your bank’s UPI app if you initiate this the money would be deducted but it is not reflected in your trading account.
Step by Step guide to Zerodha UPI Transfer
So, rather make it complex, download Zerodha kite mobile app for this purpose. We have listed all the steps in the below process.
1st Step: Head over to the” payment” page of the site and click on “Add fund” option.
2nd Step: When the window opens up then select the UPI as the fund transfer mode.
3rd Step: Submit the UPI Id and the fund that you want to transfer and hit the press on continue.
4th Step: When you click on the ”continue” option, you will come across the page that will ask you to go on the UPI app on the phone.
5th Step: Head over to the UPI app of your phone, you will get a collect request from Zerodha. Agree on the request here. And then type UPI Pin number. Enter only the UPI PIN that you get on your mobile.
6th Step: Once you entered the UPI Pin, you will receive the configuration window on the Zerodha payment page. Keep in mind, never directly close the window, if you do so your transfer will not show instantly.
Read about Stock Broking Franchise in India
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How to own Zerodha UPI Fund Transfer ?
The newly started Zerodha UPI Transfer Fund is free for all traders and investors. Though the banks are charging Rs.9 at each transfer, the company has made a request to its banking partners to keep this free for the first 6 months.
In order to access this facility, all you need is to do download UPI app on your mobile phone which is completely free. Usually, the banking limit to transfer mapped account to trading account is up to Rs.1 lakh along with that maximum per day is also Rs.1 lakh.
Advantages of Zerodha UPI Fund Transfer
- With the help of Zeroadha UPI facility, you can easily transfer fund at your trading account within a few minutes from any platform.
- Generally, all trading services shift their methodology from an offline platform to online, so there is no place for cash and checks in order to buy/sell shares. Now, there is no need to record the payment manually, because if you transfer your fund through UPI all the status updates automatically.
- In case, if your payment deducts from your mapped account and not credited in your trading account, within an hour it will straightforward to your mapped account. This advantage minimizes the risk of theft.
- If NRI wants to trade and invest in India, he/she can easily do it only with the help of Zerodha kite payment app.
Disadvantages of Zerodha UPI Fund Transfer
- Internet and sever problem can make your payment fail.
- It is not convenient for offline traders and investors.
- Cyber-criminal threats can steal the money that you have transferred in your trading or mapped account.
- Technical glitches can slow the online payment process.
- Financial partners take the Rs 9 tax on each transfer, which can be negotiable in future.
Conclusion of Zerodha UPI Fund Transfer
Using UPI facility to transfer fund from bank account to trading account is the great shift that has made by the Zerodha towards digitization.
Understand in this way, if you are driving on an express highway, suddenly you get a call from your broker that shares are rising up. But, the problem is your trading account is not funded, so this is the place where Zerodha fund transfer UPI plays a vital role.
If you are using this facility you can easily transfer fund in your trading account and buy shares hassle free. So, take this service to your advantage and make your trading job portable.
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