How to Withdraw Money from Fyers: Step-by-Step Guide to Instant & Standard Withdrawals

How to Withdraw Funds from Your Fyers Demat Account: A Comprehensive Guide

Withdrawing funds from your Demat account is a critical aspect of trading, allowing you to access your profits easily. Fyers, a well-regarded online brokerage platform in India, provides a user-friendly system for transferring your earnings back to your bank account. This article will guide you through the process of how to withdraw funds from your Fyers account, covering both instant and standard withdrawal methods, and clarify important timelines and conditions. Knowing these procedures ensures that you can manage your trading funds efficiently. Let’s explore the different ways you can withdraw your funds on Fyers.

Understanding Fyers Withdrawal Options

Before initiating a withdrawal, it's important to understand the different methods Fyers offers: Instant Withdrawal and the standard withdrawal process. Each method has its own terms, conditions, and timings. Choosing the right one can significantly impact how fast you receive your money. This knowledge enables traders to manage their finances more effectively. Let’s break down both of these options.

Instant Withdrawal: Quick Access to Your Funds

The Instant Withdrawal feature is designed to give you immediate access to your funds. With this option, you can have the money credited to your bank account within 60 seconds of placing the request. This is ideal for when you need quick access to your profits. Here’s what you need to know about instant withdrawals on Fyers:

• Withdrawal Limit: You can withdraw between ₹100 and ₹1 lakh per day.
• Processing Time: The funds are credited to your bank account within 60 seconds.
• Frequency: You can place one instant withdrawal request per day, from Monday to Friday, between 9:00 AM and 4:00 PM.
• No Open Positions or Orders: To qualify for an instant withdrawal, you must not have any open positions, or any pending or executed orders in your account.
• No Holiday Processing: Instant withdrawal requests will not be processed on trading or settlement holidays.
• Platform Availability: You can use this feature on both the mobile and desktop platforms.

This instant withdrawal option is a major advantage for traders who need quick access to their funds for either personal use or to seize new trading opportunities. The speed and ease of this process are very useful for active traders.

Standard Withdrawal: Flexible and Reliable

The standard withdrawal method is a reliable way to transfer your funds if you do not need them immediately. This process has set timelines for when the funds will be credited to your account. Here’s a detailed look at the standard withdrawal process:

• Withdrawal Timeframe:
  • Requests placed between 5:00 AM and 5:00 PM are typically processed on the same day, except for those with open commodity positions/orders in the MCX segment, which are processed on the next trading day. Note that while the request may be processed the same day, the funds may reflect in your bank account the next day.
  • Requests placed between 5:00 PM (previous day) and 5:00 AM (next day) are processed by 4:00 PM on the next day.
• Withdrawal Amount Limit: You can only withdraw up to the amount shown under ‘Withdrawal Amount’ in your account dashboard.
• Weekend and Holiday Restrictions: Standard withdrawal requests will not be processed on weekends (Saturdays and Sundays), trading holidays, and clearing/settlement holidays.
• Funds Added via UPI and Netbanking:
  • For funds added via Razorpay UPI and netbanking, you can place the withdrawal request on T+1 day.
  • For funds added via Atom UPI transactions before 4:00 PM, you can place the withdrawal request on T+1 day. Funds added after 4:00 PM, withdrawal requests can be placed only after T+2 days.
  • For Net banking, it’s T+2 days irrespective of the timings.

The standard withdrawal process is a good option for those who don’t need funds immediately and provides a reliable way to access your trading proceeds. It allows flexibility in managing your finances.

Step-by-Step Guide to Withdrawing Funds

Now that you have an understanding of both methods, let's go through the step-by-step instructions on how to withdraw funds from your Fyers account:

How to Make an Instant Withdrawal on Fyers

Here is how to perform an instant withdrawal from your Fyers account:

1. Go to 'My Account' Dashboard: Start by logging into your Fyers account on the web or mobile platform. If you are already logged in to FYERS Web, you will automatically be logged in. Navigate to the 'My Account' section.
2. Click on 'Funds' Tab: On the 'My Account' dashboard, locate and click on the 'Funds' tab. This is where you can view your available funds and manage withdrawals.
3. Select 'Withdraw Funds': In the ‘Funds’ section, click on the ‘Withdraw Funds’ option. A pop-up will appear on the right side of the page.
4. Enter Withdrawal Details: In the pop-up, enter the amount you wish to withdraw. Remember the instant withdrawal limits: a minimum of ₹100 and a maximum of ₹1 lakh. Select your linked bank account from the dropdown menu.
5. Place Withdrawal Request: Click on 'Place Withdrawal Request'.
6. Confirm Withdrawal: After verifying all the details, confirm the withdrawal request. The amount will be credited to your bank account within 60 seconds if all conditions are met.
7. Check Withdrawal History: To review the status of your request, navigate to 'Withdrawal History' within the ‘Funds’ section.

How to Make a Standard Withdrawal on Fyers

Here is how to initiate a standard withdrawal request:

1. Go to 'My Account' Dashboard: Start by logging into your Fyers account on the web or mobile platform. If you are already logged in to FYERS Web, you will automatically be logged in. Navigate to the 'My Account' section.
2. Click on 'Funds' Tab: On the 'My Account' dashboard, locate and click on the 'Funds' tab. This is where you manage your withdrawals.
3. Select 'Withdraw Funds': In the ‘Funds’ section, click on the ‘Withdraw Funds’ option. A pop-up will appear on the right side of the page.
4. Enter Withdrawal Details: In the pop-up, enter the amount you wish to withdraw. Select your linked bank account from the dropdown menu.
5. Place Withdrawal Request: Click on 'Place Withdrawal Request'.
6. Confirm Withdrawal: After verifying all the details, confirm the withdrawal request.
7. Check Withdrawal History: To track the status of your withdrawal request, navigate to 'Withdrawal History' within the ‘Funds’ section.

Conditions for Instant Withdrawal

To make use of the instant withdrawal feature on Fyers, it's essential to meet certain criteria. This ensures that the process is smooth and secure. Here are the conditions you need to meet:

• No Open Positions: You must not have any open positions in your account.
• No Pending Orders: There should be no pending or executed orders in your account.
• Withdrawal Amount: You can withdraw between ₹100 and ₹1 lakh.
• Timing: The request must be placed between 9:00 AM and 4:00 PM, from Monday to Friday.
• Frequency: You can place only one instant withdrawal request per day.
• No Trading or Settlement Holidays: Instant withdrawals are not processed on trading or settlement holidays.

Meeting these conditions ensures that your instant withdrawal request is processed quickly, without any delay or hassle.

Timelines for Standard Withdrawals

Understanding the timelines for standard withdrawals is crucial for effective planning. Here’s how it works:

• Requests Placed Between 5:00 AM and 5:00 PM: Requests placed within this window are processed on the same day. However, if you have open commodity positions/orders in the MCX segment, they will be processed on the next trading day. The funds might reflect in your bank account on the next trading day.
• Requests Placed Between 5:00 PM (Previous Day) and 5:00 AM (Next Day): These requests will be processed by 4:00 PM on the next trading day.
• Weekend and Holidays: Withdrawal requests are not processed on weekends, trading holidays, and clearing/settlement holidays.

Adhering to these timelines allows you to manage your funds and plan your financial transactions with accuracy.

Other Important Considerations

Here are some other important considerations to keep in mind when you withdraw funds from Fyers:

• Withdrawal Limits: Be aware that you can only withdraw up to the amount shown under 'Withdrawal Amount' in your account dashboard.
• Settlement Cycles: Funds added through various payment methods have different settlement cycles. Funds added via Razorpay UPI and netbanking can be withdrawn on T+1 day. For funds added through Atom UPI before 4:00 PM, you can withdraw on T+1 day, while funds added after 4:00 PM can be withdrawn on T+2 days. Net banking transactions take T+2 days regardless of the timings.
• Bank Account: Ensure that your linked bank account is active and correctly updated in your Fyers account. This will avoid any delays in processing your withdrawals.
• Open Positions/Orders: Remember, you cannot process an instant withdrawal with open positions or any pending or executed orders. Always ensure to clear all orders before placing an instant withdrawal.

FAQs on Withdrawing Funds from Fyers

Here are some frequently asked questions about withdrawing funds from your Fyers account:

Q: What is the minimum amount I can withdraw from Fyers?

A: The minimum amount you can withdraw using both instant and standard withdrawal methods is ₹100.

Q: What is the maximum amount I can withdraw instantly?

A: The maximum amount you can withdraw through the instant withdrawal feature is ₹1 lakh per day.

Q: How long does it take to process an instant withdrawal?

A: Instant withdrawals are typically processed within 60 seconds.

Q: What are the timings for placing an instant withdrawal request?

A: You can place an instant withdrawal request between 9:00 AM and 4:00 PM from Monday to Friday.

Q: What happens if I have open positions when requesting an instant withdrawal?

A: If you have open positions or any pending/executed orders, your instant withdrawal request will be rejected. You will need to clear all positions and orders before making an instant withdrawal request.

Q: How long does it take to process a standard withdrawal request placed between 5:00 AM and 5:00 PM?

A: Standard withdrawal requests made during these hours are usually processed on the same day, with the funds potentially reflecting in your bank account the next trading day. However, if you have open commodity positions/orders in the MCX segment, it will be processed on the following trading day.

Q: What happens if I place a standard withdrawal request between 5:00 PM (previous day) and 5:00 AM (next day)?

A: Such requests will be processed by 4:00 PM on the next trading day.

Q: Can I withdraw funds on weekends or trading holidays?

A: No, withdrawal requests are not processed on weekends, trading holidays, and clearing/settlement holidays.

Q: Do funds added through different payment methods have different withdrawal timelines?

A: Yes, funds added via Razorpay UPI and netbanking can be withdrawn on T+1 day. For funds added through Atom UPI before 4:00 PM, you can withdraw on T+1 day, while funds added after 4:00 PM can be withdrawn on T+2 days. Net banking transactions take T+2 days regardless of the timings.

Q: Where can I check the status of my withdrawal request?

A: You can check the status of your withdrawal request under 'Withdrawal History' in the ‘Funds’ section of your Fyers account dashboard.

Q: Is there any limit on the number of instant withdrawals I can make in a day?

A: You can place only one instant withdrawal request per day.

Q: Do I have to pay any fees to withdraw from my Fyers Account? A: Fyers does not charge any fees for withdrawals.

By addressing these common queries, you can navigate the withdrawal process more effectively, thereby enhancing your overall trading experience on the Fyers platform.

Conclusion

Withdrawing funds from your Fyers Demat account is a simple and efficient process, with options available for both instant and standard transfers. Understanding the conditions, timelines, and steps involved in each method allows you to manage your finances more effectively. By using this detailed guide, you’ll be able to easily access your trading profits whenever you need them, making your experience on Fyers smoother and more convenient.