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