What to do if funds are transferred from an NRE account to FYERS by mistake?
If you've accidentally transferred funds from your NRE (Non-Resident External) account to FYERS, instead of your NRO (Non-Resident Ordinary) account, the transaction must be reversed in compliance with FEMA and broker-level segregation norms. FYERS facilitates a structured reversal process to return such funds to your originating account.
Steps to initiate the reversal process
- Download and complete the consent letter
- Go to the NRI section of FYERS Downloads
- Download the 'Consent Letter for NRE to NRO Transfer Reversal'
- Fill it accurately and sign - Initiate the reversal request online
- Fill out the reversal form here
- Enter your transaction details and attach scanned documents Submit required documents
- Copy of the NRE bank statement showing the debit transaction
- NRO bank statement reflecting IFSC and MICR codes
- The filled and signed consent letter
- PAN must be consistent across both NRE and NRO accounts
- Refund process
After document verification, the funds will be returned to your NRE account within 7 working days, subject to bank clearance
What if...
| Scenario | What you should know |
|---|
| You don’t have an NRO account | You must open one to initiate any refund request |
| Your PAN is not listed on bank statements | Obtain a bank certificate confirming both accounts are held under the same PAN |
| You miss a document or detail | Incomplete submissions will delay the refund—ensure accuracy and completeness |
Always verify your funding source before transferring to FYERS. NRE accounts should never be used for trading-related deposits due to FEMA compliance. Use NRO-linked accounts only.
Last updated: 23 Jun 2025
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