Why is my withdrawal request rejected?
Your withdrawal request may be rejected due to any of the following reasons:
- If you are a collateral client (i.e., you've pledged your holdings) and you have open carryforward position/s, your cash balance will be used first to cover the margin requirement. This means that you may not have enough cash available to withdraw.
- If there is a mismatch between your bank account details and the details you provided to us, such as IFSC code, MICR code or name, your withdrawal request will be rejected due to security reasons.
- If you've placed a withdrawal request and later utilized the entire amount for taking an overnight position or investing in securities.
- Due to technical issues concerning the backoffice, your withdrawal requests may be rejected.
Please make sure that you have sufficient cash balance and correct bank account details before requesting a withdrawal.
Note:
- You can only withdraw the amount that is shown under 'Withdrawable Amount' under the 'Funds' section in the My Account portal.
- If you have made a withdrawal request and incurred a loss during the trading day, the withdrawal request will still be processed for the remaining amount after adjustment. However, if the loss incurred is in excess of your available withdrawable balance, your payout request will be rejected.
For instance, Mr. M's withdrawable amount was ₹1,40,000. He placed a withdrawal request for the entire amount at 8:00 AM. However, he had taken multiple positions in Derivative contracts and made a loss of: - ₹30,000 -- The amount of loss incurred will be adjusted and remaining amount of ₹1,10,000 will be processed. (Brokerage and statutory charges are not included for easy understanding).
- ₹1,41,000 -- As Mr. M has lost all his capital in this event, his withdrawal request will be rejected.
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How much time does it take to process the withdrawal request?
At FYERS, the withdrawal timings are as follows: If you request before 5:00 AM on a working day, the funds will be transferred to your bank account on the same day. If you request after 5:00 AM on a working day, the funds will be transferred to your ...
How do I cancel the payout request?
If you wish to cancel your withdrawal request, you can do it under 'Funds' section in the 'My Account' portal. Go to withdrawal history and click on the '?️' icon as shown in the image below: Upon clicking on the above-mentioned icon, a pop-up would ...
How do I modify the payout request?
You can modify your withdrawal request at ease. 1. After placing a withdrawal request (refer to this article), if you want to modify the amount/bank details, click on the “Pencil Icon” under the heading “Take Actions” as shown in the image below: ...
Do I receive the Email confirmation for the payouts are processed/rejected?
Yes, you will receive the mail confirmation that your withdrawal processed successfully. If your payout is rejected due to ‘No Clear Balance’, you will not be notified through the mail. You can check the status of your payout by writing to ...
How to check my deposit and withdrawal history in FYERS?
You can get the deposit history and withdrawal history in the My Account Portal as shown in the GIF below: The step-by-step procedure to check your Deposit and Withdrawal history is as follows: 1. Login to My Account and click on 'Funds' available on ...