@Dhan @PravinJ I tried the Dhan withdrawal for the first time today, and itâs not instant. It takes about 10 - 20 minutes to review the withdrawal which is fine.
My concern is, why do we have a cap of just 1 withdrawal per day? I do not have any open positions, and when I look at the âFunds and Margin Summaryâ, these funds are available for withdrawal. However, when I navigate to the âWithdraw Moneyâ tab, the withdrawal is blocked. Not comparing it with any other app, but we should at least have 4 withdrawals per day.
Hey @nitishbangera ,
We were one of the first players in the industry to offer fast withdrawals. On Dhan you can withdraw funds using this facility irrespective of whether you have places trades on the day or not for an amount upto Rs 5L. With these perks, it is of paramount importance that we have necessary checks in place to ensure the right amount of funds are being transferred to users post considering margin obligations.
For the same reason, once funds have been withdrawn on a day, we do not allow another payout before our EOD processes are done and correct limits have been calibrated for all users post any other obligations on account of charges.
Hope this helps.
Thanks,
Pranita
Product @ Dhan
Hello @Pranita, I understand that Dhan had the first-player advantage, but itâs no longer valid, as others have caught up and are probably doing better as well. I do not think your reason for placing trades is valid, as I believe once the trades are placed, the amount gets deducted from the margin. If itâs not there in the margin, not sure how it will be available for withdrawal. Can you share specific scenarios for me to understand where itâs relatively possible that I have placed trades, and the margin still hasnât been deducted, with the expected margin of that trade?
Please note that I am asking these questions so that I can plan my withdrawals accordingly in future.