Zerodha Fund Transfer via UPI

Posted on 3rd Jul 2018
by Vijay Jain

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Zerodha Fund Transfer via UPI

Unified Payments Interface (UPI) is an instant Smartphone enabled inter-bank electronic fund transfer service available through your bank.

How can I transfer fund via UPI to my Zerodha Trading Account?

The UPI payment option is an app based fund transfer that allows you to transfer funds from your mapped bank account to your trading account with Zerodha instantly using Zerodha’s kite mobile app and UPI app. It doesn’t require you to add bank details of Zerodha manually.

Advantage of Fund Transfer via UPI

  1. Instance Fund Transfer up to 1 lakhs
  2. No need to add payee in your bank account

How to start using UPI for fund transfer to my trading account with Zerodha?

First thing to know here is that you have to use Zerodha Kite app for UPI transfer. Secondly, the UPI ID you created should be with the same bank that you have mapped your Zerodha trading account to.

Unlike other UPI transfers, you should not transfer fund to Zerodha UPI address from your bank’s UPI App. If you do so, the money would be deducted from your bank account but would not reflect in your trading account. Rather you have to use Zerodha’s Kite mobile app. The steps are as follows:

  • Go to the ‘Funds’ page on Kite and click on ‘Add Funds’.
  • Select UPI as the payment mode in the window that opens up.
  • Enter your UPI ID and the amount you want to transfer and click on continue. Once you click on‘Continue’, you’ll see next page that will ask you to” Go on the UPI app on your phone”.
  • Go to the UPI app on your phone, you’ll receive a collect request from Zerodha. Approve the request here. This will require you to enter your UPI PIN on the next step. Enter the UPI PIN that you receive on your mobile phone.
  • Now you will get a confirmation window on the Zerodha payment page. Make sure you click on the ‘Close’ button. If you directly close the window, the transfer will not show up on your account instantly.

What is transaction charges charged by Zerodha for adding funds using UPI?

Fund Transfer using UPI is completely free. You don’t have to pay any transaction fee.

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What are prerequisites to start using fund transfer through UPI?

  • You need to download UPI app in your mobile phone.
  • Make sure the UPI ID is mapped to a bank account that you have mapped with your Zerodha trading account.

What is BHIM (Bharat Interface for Money)?
BHIM is mobile app promoted by the National Payment Corporation of India (NPCI). Person can transfer and receive funds via UPI using his/her registered UPI ID with the bank.

What is BHIM / UPI ID?
BHIM / UPI ID is an unique identifier (like email id) created by you which is mapped to your bank account and can be used to send or receive payments in BHIM / UPI system.
For [email protected] "abc" is a unique name.

What is the current limit for sending money through BHIM / UPI?
Usually the maximum limit per transaction is Rs 1 lakh and the maximum per day limit isalso Rs 1 lakh (subject to change). Do check with your bank for the limits.

Can I send money to someone who is not registered on BHIM / UPI from myBHIM / UPI ID?
Yes. Payment can be made via IFSC/ Account number or MMID/ Mobile number or Aadhaar number of the beneficiary.

What is UPI fund transfer and what are the charges for transferring money through UPI?

UPI is like an email ID created by you with your bank for fund transfer to someone’s bank account. There is no charges associated with UPI for peer to peer transfer. Some businesses do charge at Rs 9 + GST.

How to create UPI ID with my bank?

You can create UPI ID by login on to your account in your bank’s mobile App and then click on UPI and register a UPI ID of your choice.

Hope we are able to answer all your queries related to UPI fund transfer with Zerodha. Still if you have any queries then feel free to leave a comment below.

If you like to take advantage of such features, then choose Zerodha as your broker. Leave your information here to get a call back from Zerodha sales team.

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User Comments

1. Pankaj Shewatkar  Jun 11, 2018 12:10:05 PM IST Reply
What I have to do for Payout using UPI? Is it possible with Zerodha?
2.1. Priyanka  Jun 23, 2018 1:58:26 PM IST
You can only use UPI money transfer facility for paying in. Payout is not possible through UPI.

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