In continuation of the previous topic, how to withdraw money from your trading account. We will discuss this option with respect to broking firm Upstox. In case, someone is interested to know how to withdraw money from Upstox instantly and how much time it takes to credit in your bank account, then this is the right article for you, please read it till the end!
Before we kick off the topic, let’s discuss Upstox in brief with its offering. Upstox is an online trading platform that allows you to buy and sell a security on a real-time basis. It simplifies your investment journey by offering a wide range of investment avenues on its platform. Not only it allows share trading, but you can also invest in IPOs, mutual funds & whatnot. It also provides fundamental and technical data for stock analysis to ensure you make a wise investment decision.
Introduction
Similar to their competitors Zerodha or ICICI direct they too allow withdrawal options to their investors. Money lying idle in the trading account will not fetch any interest its better if park your funds in some other avenue or if in case you’re urgent need of cash then you should definitely know how you can withdraw the money from Upstox Instantly.
Upstox Withdrawal
To withdraw money from your Upstox account, you need to hold the account with this broker in the first place. After the investment, withdrawing money is the most fascinating thing to count on your returns. Now everything is digital, so there is no hassle of visiting the branch or filling out any form. Simply visit their site or log in to their app and can withdraw the funds instantly. But there are certain criteria to withdraw the funds from your Upstox account instantly which is in less than 15mins. Otherwise, as per the standardized process, it takes more than 24 hours for the credit to reflect in your bank account post the withdrawal request is placed on the platform.
As this article is for the user who is looking to withdraw the funds instantly so please ensure you meet all criteria then only can expect the funds in the next 15mins:
- The instant withdrawal option will be open on any trading day between 11:00 am to 4:00 pm.
- There is a withdrawal limit that ranges from Rs 100 to Rs. 200000 in a day including both securities and commodities wallet amounts.
- You can withdraw up to the amount available in your Upstox trading account.
- There should not be any open withdrawal request along with any open or closed orders in their trading & mutual fund account.
- You cannot withdraw unsettled profits.
- This facility you can only opt for this if you have activated IMPS on your bank account.
- To place an instant withdrawal request, your position should be zeroed.
In the case the above criteria are not met, then your withdrawal request will follow the normal path of settlement and it will take another 24 working hours for the credit to reflect.
How to Withdraw Money from Upstox Instantly?
Time needed: 4 minutes
Here are the steps you need to follow in order to withdraw money from your Upstox account instantly:
- Login to your Upstox Account with your credentials
- Now Go and open Fund Option and click on Section
- Click on Withdraw fund option
On the fund page, there will be multiple options sections like securities and commodities. Along with that the available fund in each section with payment history, Just below the total fund you will see withdraw fund, just click on the same option.
- Now enter the Amount and click on Withdraw fund
On this page, you need to enter the amount you wish to transfer. Followed by clicking on withdraw fund and there you go!
- Verify your MPIN and initiate the transfer
Before authenticating your MPIN you can edit or cancel your withdrawal request. If not needed, enter your trading password again and click on proceed.
Upstox Money Withdrawal Time
In case you have met all the above criteria and then placed the order the credit will reflect in 15 mins in your account or else it will follow the standard turnaround time.
- In case a withdrawal request is placed before 8 am on the trading day, then the money will credit by 2 pm the same day in your primary bank account.
- If the withdrawal request is placed after 8 pm on the trading day, then the money will credit before 2 pm on the next working day in your primary bank account.
- If the request is placed on a public holiday or the 2nd or 4th Saturday and Sunday, then the above payout process is not followed and it will get processed on the next working day.
Money withdrawal from your trading account is as simple as taking a stroll in the park. Upstox is the best all-in-one solution for anything that smells like an investment.