Zerodha Part 2

[abliss_ready]

It may be my first post. But I have been here for many months. Now its the time for my first port.



You will never get it. Call their customer care to reverse the transaction and then use Back Office to fund your trading account.

I am using Zerodha personally and have had similar experience. While checking the source code, I came to understand that they have intentionally set the trap to redirect customer's payment to invalid segment. Even they do not care to reverse the wrong payment themselves. They would start the reversal only when the customer realizes it and asks for reversal. In the meantime, Zerodha may be using this money for any purpose they want.

I highly suspect that Zerodha is under heavy financial trouble and thats why they dont close the problematic funds transfer section even after repeated complaints from customers.

The screenshots are attached.

Zerodha... What do you say?

Funny post to say the least.. How does no options in the dropdown be considered a trap and spell dooms day for Zerodha... I have done transactions of tens of lakhs with Zerodha for more than a year and have not faced any issue..

 

[comm4300]

conspiracy / funny or not....the missing segment in the dropdown has been there since 17 sep 2012 - at least from the date my referral opened her account. She's been using HDFC - HDFC online transfer for trading; which happens to be free.

At least now i know this is not an individual ID problem; instead a common one.

a week is too long a time to solve this issue OR come out with a clarification.

 

[sansarva]

It may be my first post. But I have been here for many months. Now its the time for my first port.



You will never get it. Call their customer care to reverse the transaction and then use Back Office to fund your trading account.

I am using Zerodha personally and have had similar experience. While checking the source code, I came to understand that they have intentionally set the trap to redirect customer's payment to invalid segment. Even they do not care to reverse the wrong payment themselves. They would start the reversal only when the customer realizes it and asks for reversal. In the meantime, Zerodha may be using this money for any purpose they want.

I highly suspect that Zerodha is under heavy financial trouble and thats why they dont close the problematic funds transfer section even after repeated complaints from customers.

The screenshots are attached.

Zerodha... What do you say?

What do you want zerodha to say when you accuse them of such things.


before conjuring up traps for solution for financial troubles, just think of this senario


A Don pcking up a newspaper from a newsstand while waiting on the street for meeting some one. A Don is a theif right, still he pays for the newspaper, does not steal it .

 

[Trader J]

Zerodha's response! Well you may get, but not a straight answer as Newbie123 has said somewhere in this thread that transaction charge is their best kept secret.

Sachin also once mentioned that it is their prerogative as to what to charge.

With NSE reducing their transaction charge, that benefit may be passed on to us, but if you are expecting that Zerodha will somehow reduce what they have been charging extra from that they pay to exchange and clearing house , well you will find sachin example of 2008 in some detail,

Guys if you pester more on transaction charges, sachin will just ignore it or will be ready with more detailed 2008 scenario.

It has to be accepted that Rs 20 will not be able to cover all their overheads, profit ,expansion investment and free software ( Remember, though NOW is/was free, NEST is not), they were obviously banking on something else where, it could not be advertisement revenue, may not be even pros trading. It had got to be transaction charge, well, they expected you guys won't notice it when other brokers are fleecing you with high charges, probably didn't expect other discount brokers coming to market and offer similar deal. Even if someone offered it would be against some upfront payment, can be easily attacked as unethical or so , so.

Well guys I am not for one attacking Zerodha or the ones asking for reducing transaction charge, only saying that the exercise of requesting for reduction is a futile exercise.

If you are trading in one or two lot in NSE Future, than Zerodha is expensive, go for some 9 Rs per Lot(Costing Rs 80 per lot Nifty(Buy and sale). Zerodha costing around Rs 170 Per Lot Nifty trading(Buy and Sale). I consider in Rs 80, Stamp 0.001 % and Transaction charges Rs 190 per crore

 

[rpreethi]

Please DO NOT attach ANY conspiricy to the technical problem.They are honest,that is what I feel as a MORE satisfied customer for more than one year.When I also have same problem,they solved within 5mts after I called them.Are you trying to kill zerodha with rumors?
nest trader's payment gateway still not active for all the segments.Still nest trader under evolving stage,That's why they has not given nesttrader to all the customers.

I am a programmer by profession. It is not hard for me to understand how the payment script works. It does not seem to be tech. problem. The html code for drop down boxes (select options are being removed abruptly.

Even if you consider this as a technical glitch, how long it would take to fix this problem? Guess... I am confident that it would not take more than 15 minutes to fix it. Instead they allow the script to malfunction for several days and keep delaying the reversal payments.

Just 5 minutes? Amazing! They took nearly 2 days to reverse my payment.

If they are honest, the problem should have been rectified by this time. But what happened so far?

Funny post to say the least.. How does no options in the dropdown be considered a trap and spell dooms day for Zerodha... I have done transactions of tens of lakhs with Zerodha for more than a year and have not faced any issue..

How can it be programmed like this? Could you please explain? If they are developing the new platform, a simple html comment can stop displaying the payment menu. It could be possible only when they hire dirty cheap programmers ($3 per hour).

 

[age_of_turbulence]

Zerodha's response! Well you may get, but not a straight answer as Newbie123 has said somewhere in this thread that transaction charge is their best kept secret.

Sachin also once mentioned that it is their prerogative as to what to charge.

With NSE reducing their transaction charge, that benefit may be passed on to us, but if you are expecting that Zerodha will somehow reduce what they have been charging extra from that they pay to exchange and clearing house , well you will find sachin example of 2008 in some detail,

Guys if you pester more on transaction charges, sachin will just ignore it or will be ready with more detailed 2008 scenario.

It has to be accepted that Rs 20 will not be able to cover all their overheads, profit ,expansion investment and free software ( Remember, though NOW is/was free, NEST is not), they were obviously banking on something else where, it could not be advertisement revenue, may not be even pros trading. It had got to be transaction charge, well, they expected you guys won't notice it when other brokers are fleecing you with high charges, probably didn't expect other discount brokers coming to market and offer similar deal. Even if someone offered it would be against some upfront payment, can be easily attacked as unethical or so , so.

Well guys I am not for one attacking Zerodha or the ones asking for reducing transaction charge, only saying that the exercise of requesting for reduction is a futile exercise.

I don't think the point is that we're demanding a reduction, we're demanding basic, ethical transparency. You can't mix up a statutory charge with a service charge and tell me you aren't charging me. Which is what zerodha is doing in this case. I like these guys, but this sort of dodgy practice is plain wrong, whether they do it, someone else does it or everyone does it. Be upfront about what you charge and what you offer, and let me as a consumer decide.

 

[Zerodha]

To zerodha,
please include intraday profit in available margin on that day itself

ksp,

This is not possible as per the new sebi guidelines.. All f&o settlements happen on T+1, so the profits will be realized only the next day and if we let you take use of the profits, sebi considers this as short margin...

 

[Zerodha]

To zerodha,
please include intraday profit in available margin on that day itself

Not possible as the profit is realized only T+1 and if we provide according to the new SEBI rule we will be put a short margin penalty..

 

[sumosanammain]

lets discuss in a civil manner, guys!

 

[Zerodha]

I am a programmer by profession. It is not hard for me to understand how the payment script works. It does not seem to be tech. problem. The html code for drop down boxes (select options are being removed abruptly.

Even if you consider this as a technical glitch, how long it would take to fix this problem? Guess... I am confident that it would not take more than 15 minutes to fix it. Instead they allow the script to malfunction for several days and keep delaying the reversal payments.

Just 5 minutes? Amazing! They took nearly 2 days to reverse my payment.

If they are honest, the problem should have been rectified by this time. But what happened so far?



How can it be programmed like this? Could you please explain? If they are developing the new platform, a simple html comment can stop displaying the payment menu. It could be possible only when they hire dirty cheap programmers ($3 per hour).

An issue we hadn't expected while migration..

We use atom payment gateway and it works perfectly fine on our BO. The equity gateway on ZT was supposed to work with the same merchant ID as the BO.

But our ATOM boys in a bid to make a little more wanted us to get a new ID as they would probably make some money on it. Once the Purchase order was sent , they took forever to process it.. Everything is set and the equity payment gateway should be live by tomorrow..

@preethi, if fund transfer took 2 days, it was probably because of a weekend, if not, please ping me your client id. The withdrawals never take more than 1 day after being placed. Sorry if any inconvenience caused..