Important points regarding payout processing

All payout requests will be processed as per below schedule

Mode of request Segment Request day Cut-off time
BOX (Back Office)  All segments Mon – Sat* 7:00 am
NEST Trader/TradeSmart Mobile/Swing Web/Sine Mobile/Sine web  All segments Mon – Sat* 11:59 pm

*Payout will not be processed on 2nd and 4th Saturday as we do not work on these days. 

Equity/Commodity payouts placed before 7.00 am, will be debited from your account on the same day in the morning around 9:00 am and you would get funds into your bank account as per RBI settlement timings.

Processing of payout when a stock is sold, derivative position is closed or intraday profit is made 

Equity Cash:
When you sell the delivery of stocks, amount shall be credited to your trading account on T+2 days (T=Trade Day). After the amount is credited, you can request for payout. Intraday profits also will be available for withdrawal on or after T+2 days.
Ex: If a stock is sold on Monday, the amount shall get credited to your trading account on Wednesday based on T+2 settlement cycle. You may place the payout request on or after Wednesday 3:30 PM.

Derivatives:
If you have closed any derivatives position, the trade shall get settled on T+1 day. After the settlement is done you can place the payout request. Intraday profits too will be available for withdrawal on or after T+1 settlement cycle. 
Ex: If the derivative position is closed on Monday then you can withdraw the proceed (margin+MTM) on or after Tuesday 3:30 PM.

Time taken for funds to reach in your bank account

  1. Equity and Commodity payout: If you request payout from equity/commodity account and if you have linked ICICI bank with us, the funds will be credited to your bank account within next 3 to 4 hours from the time of processing payouts from our end.
  2. In case if your account is with any other bank then we process your payment through NEFT which would be processed by the bank and amount would be credited to your bank account as  per RBI settlement timings.

Note:

  1. Payout request placed over the phone or email will not be accepted.
  2. Payout request placed after Saturday 7:00 am (other than 2nd and 4th Saturday) to Monday 7:00 am will be processed on Monday morning. Funds will get credited to your bank account as RBI timing.

Reasons for which payout processing could get delayed

  1. In any case if bank does not release your funds then you would get delayed credit to your bank account.  
  2. In case there is any clearing holiday, your payout request will be processed on next working day after the clearing holiday. 
To get same day payout, we would request you to place payout before 7:00 am from BOX on any day from Monday to Saturday (Except 2nd and 4th Saturday) except clearing holiday.

Reasons for payout rejections & partial payments

In case you requested for a payout but your request was only partially processed/rejected, below could be some of the reasons for the same.

  1. When you sell stocks in cash segment, the funds for the same are received from the  Exchange on a T+2 (two days later) basis. Hence, the payout request for those funds can be placed only after they have been received from the exchange.
  2. In case of FNO/Currency/Commodities, funds are received on T+1. Hence, the payout request for those funds can be placed only after they have been received from the exchange.
  3. Fund transferred by instant payin(Through Atom) from any trading terminal, on any day will not be eligible for placing payout on same day. You are required to place payout after T+2 days (T=Working day of bank and stock exchange).
  4. Fund transferred to your trading account by UPI, on any day will not be eligible for placing payout on same day. You are required to place payout after T+1 days (T=Working day of bank and stock exchange).
  5. If there is a margin shortage in FNO/Currency/Commodities positions (eg. due to any MTM loss) payout request might not get processed completely.
  6. Short selling of stocks: When you short sell any stock in intraday and fail to buy back it on the same day then the shortage amount is blocked in your available balance. Ex: If you sell XYZ stock of value Rs.10000 in intraday, and as there are no seller you cannot buy back the shares. This leads to short sale of securities. This Rs.10000 will be blocked in your trading account.
    1. Short delivery from exchange: When you buy shares on Monday, you will receive these shares on Wednesday from the exchange. When you sell the same shares on Tuesday, you need to give back on Thursday to exchange. In case if you do not receive shares on Wednesday, you will not be able to give them back on Thursday. This is considered as Short Delivery of shares. In such cases the total value of stocks sold will be blocked by the exchange.
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Comments

  1. Reply
    Alok Rai

    Client id YUPA621

    I HAVE Rs. 6195 in my dp but i can withdraw only 147 rs. Why i can not pay out 2000 Rs. Please response

    1. Reply
      Trade Smart Online Article Author

      Hello Alok,
      You have sold some stocks on 19th June 2020. The released amount is credited to your trading account after T+2 days of settlement from exchange. Till then you cannot take the payout of that amount. Based on T+2 days settlement period, your amount should be received by 23rd June 2020 by evening.

  2. Reply
    Probir Kumar Sen

    My payout amount is due from 26th of Nov 2019 the amount is 173000/- approx. When I can get my money

    1. Reply
      Trade Smart Online Article Author

      Hi Probir,
      The request is of old date. This should have been processed. Kindly share your client code. We will check and let you know.

  3. Reply
    Abhishek Tarar

    Now that, the NEFT is 24 Hours and other brokers have started processing the payout till 8 pm in Equities and processing it on the same day. Is there any chance that VNS is also thinking to deploy it. It can save a lot of interest cost to me and I have already shifted my half captial to some other broker whis clears the payout by 11 pm in the night if i request payout by 8 pm in the evening.

    1. Reply
      Trade Smart Online Article Author

      Hi Abhishek,
      As per the current payout schedule you shall receive payout on same day if you request payout from BOX back office before 7:00 am. However, we shall also look into the processes to make your payout fast.

    1. Reply
      Trade Smart Online Article Author

      Hi Heena,
      We guess you do not have account with us. With Trade Smart online, the client ID starts from “Y”. There could be some confusion. Kindly check your payout status with your broker.

  6. Reply
    Madhusmita sahoo

    My client id is a45031480 and i request for payout regularly since last 20days and my request is cancelled every day ,i have aloso complained every time and nobody take care of it,what happened and i request to payout of my clear balace but you are not release the same ,not expected such a bad service from karvy, please check and the needful

    1. Reply
      Trade Smart Online Article Author

      Hello Madhusmita,
      You have posted your query on Trade Smart Online Page. Kindly contact Karvy Brokers.

    1. Reply
      Trade Smart Online Article Author

      Hello Sandeep,
      Ideally, you would receive your payout by today afternoon. Kindly share your client ID, we shall check your payout status.

  8. Reply
    pratik gowardhanrao dhole

    Is there any charges for requesting payout amount.My account is in ICICI, the last time when I requested an payout amount of Rs8000, I received Rs 7555 by NEFT, IS THERE ANY CHARGE FOR PAYOUT if no then why deducted the money .

  9. Reply
    Divya

    I have been submitting for payout request for last 3 days and all shows “pending” and not getting completed. Can i know what is the issue there

    1. Reply
      Trade Smart Online Article Author

      Hello Divya,
      We guess your account must be in inactive status. Hence, payout request is getting rejected. Kindly share your client code, we shall look into it and update you the exact status.

  11. Reply
    Mritunjay Pathak

    Is there any charges for requesting payout amount.My account is in PNB, the last time when I requested an pay out amount of Rs500, I received Rs 261.27 by NEFT, What is the payout amounts limits?

    1. Reply
      Trade Smart Online Article Author

      Mritunjay,
      We do not charge anything for taking amount from your trading account to bank account ie. no charges for processing payout request. You can place payout request to the extent amount you have in your account. There is no limit.

        1. Reply
          Trade Smart Online Article Author

          Hi Sarita,
          If you have placed payout on Friday then you should receive fund on Monday i.e today, till afternoon. Kindly provide your client code, we will check and let you know your payout status.

          3. Trade Smart Online Article Author

            We are unable to search your account details. Please share the client code which starts from Y. We shall check and let you know.

    1. Reply
      Trade Smart Online Article Author

      Hello Sanju,
      Your payout request is been processed by us today. You would get the amount in your registered bank account in the after noon. Please note, to get faster payout, you may place your payout request from BOX back office before 7:00am on weekdays.

  14. Reply
    Wanna Kumar gupta

    I place payout request (box website) today before 7am 4/10/18 but why processing date show 5/10/18 in my box website
    Although the payout would be credited today approximate 10am?????

    1. Reply
      Trade Smart Online Article Author

      Hello Mr.Gupta,
      Your payout request is processed by us. You would get funds in your bank account by 12 noon. We will check why the process date is showing 05-Oct-2018. Thanks for intimating this to us.

  15. Reply
    Ajay Patil

    Hi
    I have raised payout request on Friday at around 8.00 buy still it’s not reflected in my bank account.
    Could you please update me on the same asap .

    1. Reply
      Trade Smart Online Article Author

      Hello Ajay,
      Request you to place your payout request from BOX back office before 7:00am in the morning from Monday to Friday. Request received after 7:00am will be processed on next trading day. Please note, payout requests are not processed on Saturdays. Based on this criteria, your latest payout is been processed and you would get the same by today.

  17. Reply
    Altaf C Mulla

    Is there any charges for requesting payout amount.My account is in Union bank of India ,the last time when I requested an play out amount of Rs169, I received Rs167 from ICICI bank, so is there any certain percentage of charges which are charged by ICICI bank for the pay out amounts?

    1. Reply
      Trade Smart Online Article Author

      Hello Altaf,
      You had requested for Rs.169 but you had only 167 balance in your trading account. Hence, only 167 amount was processed. We do not charge anything for payout. You may check with ICICI bank for their charges.

  18. Reply
    Ujjwal Jaiswal

    I have been apayout at 11 am Wednesday but till Thursday 6 pm it is not credited in my bank account

    1. Reply
      Trade Smart Online Article Author

      Hello Ujjwal,
      We are unable to track your client code. Please share your client code so that we can check if there is any issue.

      1. Reply
        Trade Smart Online Article Author

        Hello Bhargava,
        We have checked the status of your request. There is a sign mismatch. Due to which your request is not processed. Request you to send an email to support@vnsfin.com to know more.

  20. Reply
    Armaghan Ashraf Siddiqui

    I have raised a payout request at 11am on Wednesday. My bank account is in Bank of Baroda. When will the amount reflect in my bank account?

    1. Reply
      Trade Smart Online Article Author

      Hi Armaghan,
      You have placed your request at 11:00 am which would get processed on the next day morning. The payout for today has already been processed from our end. You must have received the same to you bank account. Kindly check the same.

      Let’s understand by an example.
      Payout placed from BOX from 7 am on Monday till 7:00 am on Tuesday will get processed on Tuesday morning. You would get money to your registered bank account by 12 noon on Tuesday. Payout placed before 12 am at night on Monday from Sine mobile, Sine web, NEST trader and NEST web will be processed on Tuesday morning. Here as well you would get money by 12 noon to you bank account. You would plan your request accordingly.

    1. Reply
      Trade Smart Online Article Author

      Hi Arshad,
      You must have received login credentials to your registered email ID. However, we also have arranged a call for your further assistance.

    1. Reply
      Trade Smart Online Article Author

      Hello Santosh,
      We do not charge any amount for withdrawing funds from your trading account(payout).

  23. Reply
    Sudhir RN

    fund transfer process on SINE mobile App, payout time 6.24pm on today,How many times to get amount on my bank account. My trading account linked with icici bank.

    1. Reply
      Trade Smart Online Article Author

      Hello Sudhir,
      The cut off time for payout is in the morning 7:00 am. If you place your payout request before 7:00 am from BOX then you will receive funds by 10:00 am. If you place payout request after 7:00 am then your request will get processed on the next day and you would get money by 11am. Hence, request you to plan your payout request according to the cut off time. Your recent request has already been processed. You must have received the same to your bank account, Kindly check the same.

    1. Reply
      Trade Smart Online Article Author

      Hi Eswaran,
      The equities payout request received before 6 pm on Friday gets processed on the same day. The payment shall be credited in your bank account as per the RBI settlements. In case there is a clearing holiday (bank holiday) on Saturday (2nd and 4th) then you shall get the credit by Monday or on next clearing day.

  26. Reply
    vraj patel

    if i payout in commodity section after 6 pm.At which time i get money in my bank account.i have axis bank linked with it?

    1. Reply
      Trade Smart Online Article Author

      Hi Vraj,
      If you place the payout request on Monday after 6:00pm then the request would be processed from our side on Tuesday evening. You would get the money to your bank account on Wednesday morning. Hence, we would suggest you to request before 6:00pm. Please note we do not process payout on Saturday and clearing holiday. In such case you might receive funds with some delays.

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