Hey @aaridrakamanu ,
- We have not evaluated this kind of a partnership with other banks yet but are open to the idea in the future.
- Dhan is one of the only brokers that allows fast withdrawal of funds between 9 am to 5 pm on trading days (upto Rs 5L). So you should not be losing onto any interest in most cases.
About partnering with a bank fully, we are yet to achieve so much in the stock broking business before we get onto banking so it is not a part of our roadmap for now. However, on Dhan itself, we will be bringing corporate FDs & bonds soon so that should help solve your concern on earning interest.
Hope this helps!
Thanks,
Pranita
Product @ Dhan
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UPI for secondary market feature will help in the case which has been launched recently and Groww has been providing it . Solution for the problem you mentioned. Any timeline for Dhan to implement it soon? @Pranita
Hi @specter We will evaluate that in coming days. For now ASBA via UPI is limited only for Cash and once activated, other mode of payments are frozen.
We should pick that for integration sometime in coming months.
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5 - 10L @10% PA is about 150 - 300 rupees 
Anyway, it is a good feature, would open an ICICI account for this. This can be made more efficient (allowing for transfer back on the same day). For ex. I recently made a NEFT by mistake, since I needed the funds immediately for a Future trade, I made an IMPS again. Now, I need to wait for a day minimum to take back my money, seems hard if there were other urgent payments in play. I also realized today during withdrawal that IMPS/NEFT is allowed only once a day, pretty restrictive again. Thanks!
Thanks @specter, this looks great! As @PravinJ says it may need to evolve to support other payment modes too. UPI limits are pretty low too I would say, for F&O at least and to invest in commodities/lot’s of stocks in cash.
Hi @aaridrakamanu Large traders on Dhan use Netbanking where limits or high, and we also provide smart transfers where traders can add upto 99 Lac per transaction.
Once you try the ICICI experience, you will find it much seamless and better than even UPI.
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UPI Limits for Secondary market ASBA is Rs.5 lacs right now which might be increased further.
Thanks for the reply.
Didn’t know that once ASBA via UPI is activated, all other payment modes would be frozen.
This would cause inconvenience in such cases.
Is this payment mode freezing is only limited to Dhan due to integration issues or is it same for all other brokers?
These rules are for the ASBA UPI block method, so for all users.
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@PravinJ I spoke to ICICI folks and did not like ICICI bank (never liked it before). This becomes restrictive. I again have 5 plus lakhs stuck in Dhan account that does not earn any interest and your “Only one transaction in 24 hours” is pretty bad!!! After a series of setbacks, I am thinking of opening a Zerodha account and trying it out which does not seem to have most of these issues and others (no MF pledge, huge haircuts for many stocks, withdrawal issues, basket order issues) as per articles online. Only drawback is AMC of 300 which led me to Dhan, rest is similar with far more features, the value of which I understand now.
@aaridrakamanu MF Pledge, we have mentioned is on out list of things to do. Haircuts on stocks are largely defined by exchanges and adjusted by rms policies of platforms, basket orders let know if you face anything yourself (we very rarely take down old posts). On withdrawals, most of our withdrawals are instant and on same day, outside of that for bank and settlement holidays the limitations exists for all.
Well, we at Dhan always try to improve experience from time to time. As a customer you have a choice, and we cannot stop you from exploring any other platforms nor will we try to put a comparison with respect to any specific broker.
What we keep saying and doing since day 1 stands - Dhan gets better everyday.
I really like Dhan and most of my friends and family also use Dhan referred by me. Off-late, I am feeling a pinch because of the reasons I mentioned. For now, I will use Dhan for investing and I will move on to Zerodha for heavy-weight F&O trades (just 20% less haircut in Ambuja saves me over 3k per month in interest, I don’t like lakhs of cash stuck for any reason, and I am able to get more margin through MF holdings). I appreciate the openness in feedback and would like to see Dhan at the top in the near future.
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I would really appreciate if anyone here can let me know the charges involved from the ICICI Bank side for availing and regularly using this service. (if there are any)
Hi @Shubham619 There are no charges for this. We do not have charges for any payment service at this point of time - including money added via UPI, Netbanking & Smart Transfer.
@Shubham619 No charges. It is setup via OTP. Pretty easy and 1-click for adding funds only.
Will this feature be coming for other Banks also? Like HDFC, Axis?
Hi @metallic_sigma This capability is only with ICICI Bank, hence integrated and made available for customers of ICICI Bank.
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I dont think this feature is safe. It gets activated by me my after few clicked but I am suspicious about misuse of this feature. How can I deactivate this feature. I could not find any way of deactivation from ICICI Bank or dhan web. Pls suggest.
You might be a bit deluded on this or you use PSU banks too much.
To activate this feature, this is just an API autorization that transfers funds from your ICICI to Dhan Client ICICI account, the same as how 3-in-1 brokerages work. Dhan account is audited by SEBI and ICICI is even much more trustworthy than SBI too.
You might feel a bit more secure if you had to stand in line for a day to activate this facility to an ill behaved PSU babu.
Dear @mayank_shah ,
This facility gets activated only after a mandate is taken from you to do so during the linking process. Additionally, as mentioned rightly by @thisisbanerjee , this is how transfers are done in 3 in 1 bank accounts too. We assure you that this is safe and funds are simply moving from your ICICI to Dhan account within one click based on your authentication during the linking process.
Incase you would like to delink, please send us an email requesting so on help@dhan.co and we will get it done.
Thanks,
Pranita
Product @ Dhan
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