How to Withdraw Money from Upstox Account:
The fund withdrawal procedure is different for old and new versions of the Upstox website. In this article, we have provided the procedures involved in the withdrawal of funds from your trading account to your primary bank account.
It also depicts the two modes of withdrawal, instant & standard, and the add-on conditions. Moreover, you can understand the steps involved in the money withdrawal by employing the older version/new version of the Upstox app.
A brief account of IMPS speaks about instant money transfers anytime in a year.
How to Withdraw Funds from Upstox Account (Old Version)
Few users are using the older version of the Upstox app and to withdraw funds you were to operate the app which is safe, secure, and easy to use.
You can withdraw funds in three simple steps that can be done in slip seconds.
Step 1:
You must log in to the Upstox app using either biometrics or a 6-digit pin.
Step 2:
You will have to click the ‘funds’ tab.
Step 3:
You must make an entry of the amount as per the withdrawal availability and then click the ‘withdraw funds.’
How to Withdraw Funds from Upstox Account (Updated Version)
Here is the procedure to withdraw funds on the updated version of the Upstox App.
Step 1:
You will have to log in to the Upstox app by using the biometric or 6-digit Pin made available.
Step 2:
You will have to click on the ‘Account’ tab.
Step 3:
You will have to click on ‘Available to trade’ and scroll down the page.
Step 4:
You must select ‘withdraw funds.’
Step 5:
You must enter the amount as per the ‘withdrawable funds’ and then click on the ‘continue’ button.
Step 6:
You can check for the expected payout date and time and it means you have placed a request for your fund withdrawal.
About Upstox App:
- Upstox App is a highly customized app designed and developed to benefit the clients entering into the discount brokerage company.
- The Upstox app is integrated with Whatsapp to make it more user-friendly for its clients.
- On the specific Whatsapp number (9321261098) you can check for the IPOs, and FPOs and utilize the same to open a demat account and conduct stock trading.
Fund Withdrawal Procedure from your Upstox Account:
After conducting stock market trading you may need money from your trading account to fulfill some purpose.
You can withdraw the amount accumulated in the trading account by simply transferring funds to your personal bank account. Upstox, a discount stock broker has made the process of fund withdrawal through two payout modes.
They are instant withdrawal and standard withdrawal, however, the amount of funds withdrawn will be credited to your primary bank account.
You can adopt any of those and in addition, the company has updated the app and therefore the process of app operation of the previous version and the updated version does differ.
Instant Fund Withdrawal Timings & Conditions:
- You can withdraw instantly your money from the trading account and it can be done through your securities & commodities wallet.
- You will be eligible for a fund withdrawal from ₹100 up to ₹2 lakhs per day. The amount credited from the trading account to your primary bank account happens in just 15 minutes on your payout request. It can be made possible only when your bank account is integrated with Instant Money Payment Services.
- Through IMPS services your fund payout will be on trading days from Monday to Friday between 10 am to 06 pm. Your money will be credited to your primary account on the same day within a time frame of 15 minutes.
- If you request fund payments on trade days from Monday to Friday before 10:00 am and after 06:00 pm then the payout will follow the standard timing rule.
- You can view the ‘used margin’ which is the total amount spent on open/closed positions and it should be squared off to zero.
- If the positions are still open and not squared off then it should exit and then apply for an instant withdrawal request.
Key Features of Immediate Payment Service
- Immediate Payment Service, IMPS, is an inter-bank electronic fund transfer service and the money can be sent in real-time instantly.
- The IMPS service remains operational without any break in service round the clock throughout the year.
- The IMPS software can be put to use across various channels such as mobile banking, SMS, Net banking, and ATMs.
- You can deliver money either through mobile number/MMID/Account Number & IFSC code.
Upstox Standard withdrawal
- If you want a payout off your trading account in standard withdrawal procedure it begins from ₹100 and above.
- You can initiate a standard withdrawal on request anytime. On all working days, from Monday to Friday, your fund shall be transferred to your primary bank account by 3:00 pm.
- You can modify or delete your standard withdrawal before the execution of the time request.
Standard withdrawal timings:
- Withdrawal request time plays a vital role and defines the time frame of the payout from your trading account to your primary bank account.
- On a trading day between Monday to Friday if you make a withdrawal request before 8:00 am then your money gets transferred to your primary bank account on the same day.
- If you make a withdrawal request during the trading day from Monday to Friday after 8:00 am then the money gets transferred into your primary bank account from the trading account on the next trading day by 3:00 pm.
- If you make a withdrawal request on trading day, Friday & Saturday after 8:00 am then the money gets transferred on Monday by 3:00 pm. ( In case, the upcoming Monday is a holiday then the fund transfer occurs on the next trading day).
- If you place a withdrawal request on a bank holiday/settlement holiday/public holiday then your fund gets transferred into the primary bank account on the next trading day anytime by 3:00 pm.
Important Note:
Under any circumstances, if you fail to receive the fund within the mentioned payout TAT, you are requested to wait till the end of the day ( EOD).
Corporate Communications:
You can communicate with their call center representatives on toll-free numbers for queries if any +91 22 6130 9999.
You can obtain live support between 08:00 am and 07:00 pm (Monday through Saturday), and also mail @new.account@upstox.com for account opening queries.