Important: Changes in Funds Withdrawal Process at Dhan

Market Announcements 📢
1

Hi All,

At Dhan we have strived our best to ensure we bring you the best payment experience, while adding funds to Dhan where we do not charge fees for any mode, to withdrawing funds where we have led the industry with introducing instant withdrawal features.

However, regulations around how stock broking platforms handle client funds have undergone a lot of changes in recent months and hence there is an important update regarding your payouts on Dhan.

To comply with the new upstreaming circular by SEBI, we as stock brokers are mandatorily required to upstream client funds to clearing corporations i.e NCL and MCXCCL at Cut-off time on all NCL Settlement days. Which basically means, funds that we received from clients have to be sent to clearing corporations and cannot be held with Stock Brokers.

This new circular will affect how withdrawals are handled on Dhan. Accordingly, the new payout processing timelines will be as follows:

  1. Payouts requested between 12 AM to 5.00 PM will be processed on the same day.
  2. Fast Withdrawals are available between 9 am to 5.00 pm on weekdays.
  3. All payout requests post 5 PM till 11.59 pm (including IMPS) will be processed by the next morning.
  4. Payout requests on weekends & exchange settlement holidays will be processed on Monday or the next exchange settlement date.

While we understand that these rules may be restricting, it is also important for us to comply with the regulatory requirements that have changed and affected the experience that we wanted to provide. These changes affect all industry players, not just Dhan alone although the handling process may vary across brokers.

Do write to us on help@dhan.co incase of any queries.

Thank you
Pranita
Product @ Dhan

2 Likes
2

Does this mean there won’t be any instant withdrawals going forward?

3

Instant withdrawals will be available between 10 am to 5. 30 pm on weekdays.

1 Like
5

Is the payout still once a day or there can be multiple requests. Other brokers don’t have this only one withdrawal a day restriction. Why in dhan alone

1 Like
6

Hi @vhariprasath welcome to Dhan community!

As per our policy, you can place a withdrawal request once in 24 working hours.

7

I am waiting the payout from morning not sure what just happened and its evening …
5th august 2023

8

Exactly, why is that a policy? Why not allow multiple withdrawals a day?

9

Hi @Sib1212,

Withdrawal requests placed on weekends will be processed today.

@encore This is as per our company policy, we allow only 1 withdrawal request in 24 hours.

10

Mam kya Saturday ko agar withdraw request karte hai to kya mere bank me credit honge

11

Only on monday

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12

Hi @xpintus

Welcome to the Dhan community.

We request you to kindly refer this :-

13

What happens if the request is made between 5PM and 7PM.

  • System will not accept the request or
  • System will accept but reject it later or
  • System process the request next day

I made a request at 5:12 PM on 25 Oct. System accepted the request. It was shown as in progress till 26 Oct morning 8:21pm when it was credited. The process seemed to have worked different from what is said here. So am looking for more clarity on how this works.

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1 Like
14

Currently it is 6:40AM. So pay out should be allowed.

But when I try to withdraw some Rs.80.42 from my account, it says “Payout is currently blocked”

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I had tried the same few days back too, it had given same error that time too. But I ignored the error because amount was small and thinking that error will resolve when I try next.

Please check.

Thank you

15

Hi @amish,

Due to quarterly settlement, payout was blocked. Kindly try placing withdrawal request now.

16

@Pranita @Poornima :point_up_2:

17

Hey @t7support ,

If you have requested payout between 5-7 pm, in most cases request will not be accepted. Payouts requested post 7 pm will be accepted but processed on the next working day by 8.30 am.

In your case, your request may have gone through due to some delay in upstreaming process. However, the processing was as per the TAT on the next day.

18

Please update the app to reject the request so as to avoid confusion.

Also there seems to be a different post on 14 July which suggests we can withdraw funds before 5:30PM and it will get credited before 9:30 PM the same day.

@Pranita please clarify

1 Like
19

According to you, if a withdrawal request is made on Saturday, then you will make the payment on Monday because this is the government order. So if correct then no. 1. Why are other bookers paying even on Saturdays? No. 2. I have sent you a screenshot of why this message is showing when your Dhan app requests to withdraw on Saturday saying that our payment will be processed shortly.

20

Hey @Malay ,

  1. If you could share your details with me on DM I can get in touch with you to understand who these brokers are because as per our understanding this is beyond the scope of law.
  2. We are making updates in the front end so it does not create any confusion going forward while placing withdrawal requests. This should be live in the next few builds.

Thanks,
Pranita
Product @ Dhan