Why is the withdrawal request is being rejected?

Why is my withdrawal request rejected?

Your withdrawal request may be rejected due to any of the following reasons:

  1. 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.
  2. 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.
  3. If you've placed a withdrawal request and later utilized the entire amount for taking an overnight position or investing in securities.
  4. 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.

  1. You can only withdraw the amount that is shown under 'Withdrawable Amount' under the 'Funds' section in the My Account portal.
  2. 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:
    1. ₹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).
    2. ₹1,41,000 -- As Mr. M has lost all his capital in this event, his withdrawal request will be rejected.

    • Related Articles

    • Why am I not able to place withdrawal request in FYERS?

      You may face difficulty in placing a withdrawal request in FYERS due to any of the following reasons: You don’t have a Demat account along with your trading account. In that case, you need to place the withdrawal request in the ‘old back office’ ...
    • 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: ​ ...
    • How much time does it take to process the withdrawal request?

      At FYERS, the withdrawal timings are as follows: Requests placed between 5:30 AM and 6:00 PM will be credited by end of the same day, unless you have any open commodity positions/orders in the MCX segment. In that case, your requests will be credited ...
    • 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 ...