Now Live: Fast Withdrawals on Dhan

Product Announcements 🔈
1

Now you can Withdraw Funds from your Dhan account, and they will be in your bank within a few minutes.

Withdrawal
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Fund transfers are a daily part of investors’ and traders’ lives for placing trades in the stock markets. One common hiccup they face across brokers is a delay in the credit of their payouts. We know with some brokers or platforms it typically takes anywhere from 1-2 days, and if it’s a holiday or weekend - it’s even more.

At Dhan, we have tried to ensure that we give our users a smooth fund withdrawal experience since inception. If you have tried to withdraw your funds from Dhan, you know that they are typically processed on the same day itself, and we were processing payouts 5 - 6 times a day.

Money in a trading account is your money, and you should be able to get it back instantly when you want it, no need to wait for days.

Now we take a step further to make our fund withdrawal process even more efficient and challenge the industry standards with Fast Withdrawals.

What is Fast Withdrawal?

PS: This is yet another industry first feature from Dhan :slight_smile:

While most of our payouts are processed multiple times in a day, we use to process it earlier via NEFT & RTGS which basically means it could sometimes take upto a few hours to get credited post your withdrawal request. This of course varies from bank to bank and their settlement times.

With Fast Withdrawal here’s what you get:

  • Withdraw upto 80% of your funds available for withdrawal within minutes to your bank account. Typically takes 10-20 minutes.
  • We use IMPS to credit these payments, so this is near instant - ofcourse we take some time to process positions, margins and other calculations to ensure we are doing it right.
  • These are completely FREE of any additional cost. It costs us a bit, but for now we have decided to keep this free of cost to our users.
  • Dhan users can now make one fast withdrawal per day.
  • Fast Withdrawals are only available between 10 am to 5.30 pm. This is to comply with the upstreaming circular by SEBI.
  • Any withdrawals after that first one will be processed as regular NEFT or RTGS payments and it may take upto a few hours to receive them, but that too continues to get processed multiple times in a day.

How To Activate Fast Withdrawal?

You do not have to undertake any additional steps for activation of Fast Withdrawal in your Dhan account. It has been turned on by default for all our users. Simply tap on “Withdraw funds” and enjoy lightning fast fund credits to your bank account. That’s how easy it is - with Dhan :slight_smile:

To sum up, as usual, our endeavour is to give you the best possible trading & investing experience on Dhan with every new upgrade and feature launch. We would love to hear what you think about this one.

Thank You
Pranita

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Thank you sir @PravinJ @TeamDhan …

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Very good feature introduced.
Thank you Dhan Team

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For me it’s not the case I’m getting withdrawals through neft plz change it to IMPS @Dhan_Help

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Please help us with your registered details on help@dhan.co so we can assist you.

Regards,
Dhan Customer Care

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@Dhan_Help

IMPS transaction limit is Rs.500000. So if we want to withdraw more than that will you switch that to NEFT mode ?

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Hi @t7support ,

We allow maximum withdrawals of upto Rs 100,000 via IMPS. Payouts for all amounts greater than that will be made via NEFT.

Thanks,
Pranita
Product @ Dhan

2 Likes
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So if we go via NEFT fast withdrawals may take around 2 hrs I guess. Correct ? We still don’t have to wait overnight for the money to get credited in our account ?

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Hey @t7support ,

Yes, we run 5 batches of payouts in the day, so ideally most payouts happen within 2-3 hours. However, in case the payout is requested in the evening post the last batch for the day has already run, you can expect to receive the payout next morning. Hope this helps!

Thanks,
Pranita
Product @ Dhan

1 Like
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Ok thanks @Pranita. Got it.

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@Dhan_Help why is there a 1 lakh IMPS limit for instant transfer ? If there is sufficient fund available under “Available for Withdrawal” and the requested amount is less than that it can be processed via the IMPS route.

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hi @t7support, IMPS last when we introduced had a limit of between 1 to 2 Lacs, while we were sending few transactions, think back then not all banks had updated it to 2 Lacs and they were getting rejected. We will revisit this logic w/t our payment partners @Pranita

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Thanks @PravinJ. Now the IMPS limit is Rs.5 lakh. So please work with your partners and enhance IMPS limit.

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i had cash balance of more than 4 lakh i placed withdrawal request of 60000 on 11.03.2023 and it failed. your customer care confirmed first that it failed due to technical issue of Bank Dhan banking with. when i asked for compensation Dhan said it was rejected by client’s bank. Pls be sensible that No bank rejects inward coming fund. Dhan not giving me any proof for my bank rejected to accept the fund. at present 11:48 Dhan has disabled fund withdrawal. @PravinJ I have sent a detail email also. client id 1100521239

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Hi @Rajuvala, our team has already mentioned that withdrawal is paused for quarterly payout processing. Raising same issue on multiple forums doesn’t help - our team will address the same.

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the error should clearly mention that it is disabled due to quaterly settlement. Yesterday my 60k request was rejected while i had 4 lakh rs fund. I will raise such things on every avaialble plateform so ppl know everything in and out happening. zerodha never rejected my withdrawal in last 5 years. and dhan rejected the very first withdrawal. What kind of reaction due to expect from me for this?

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@Rajuvala it was rejected by the bank, IDBI in this case. IDBI was down when the payment was processed by our end. Payment systems while they work most of the time, they are instances when they are down.

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yesterday chat executive confirmed me that i will get the 4 lakh fund by eod as part of quaterly settlement n you also said quaterly settlement is under process.

  1. today chat executive told me there was no quaterly settlement but monthly settlement. why they said i will recieve my all fund by eod?
  2. after my complaint you allowed me to place 60k withdrawal (you are claiming withdrawal in 10-20 minutes but it took more than one hour- why you commit what you cant perform?).

accept the technical or fundamental issue at the first rather covering it by series of lie and misguiding clients. stop this.

my 60k withdrawal of friday rejected with the reason idbi bank dint accept the payment for that also you failed to provide me valid document. your account was not debited at all then how can you claim IDBI dint accept the fund due to their server down.

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Hi @Rajuvala, my bad - it was not quarterly settlement, it was monthly. Quarterly settlement happens on first week of every quarter. We process payouts from our side within 2-3 mins and send as IMPS requests using Payment Gateways, which is standard across all payment processing entities in India. Dhan is first and still possibly the only stock broker that provides this service.

Your payment failed reason - the response we got from payment gateway mentioned that your bank IDBI was down at that moment. Not sure what document you refer to, I am personally not aware of any document that is ever shared if a payment request failed.

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@Pranita today i requested fund withdrawal at 5 pm and your team saying i will get the money in bank account by next day evening.