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Espresso Sharekhan Fund Transfer Review

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Espresso Sharekhan Fund Transfer Review| UPI, Net Banking, NEFT/RTGS

Online trading with any broker requires customers to deposit and withdraw funds from their trading account. Espresso Sharekhan has partnered with 31+ banks to allow customers to transfer funds hassle-free and seamlessly via multiple modes including the UPI, Net banking or NEFT/RTGS. You can transfer funds instantly to Espresso Sharekhan Trading Account using UPI payment gateway like PhonePe, GooglePay, or your bank’s UPI address.

Espresso charges Rs. 9 payment gateway charges on each fund transfer. Adding funds through online payment gateways is a 100% secure method that keeps all your confidential data safe. Check out the complete process of how to add funds in the Espresso Sharekhan Trading account via UPI, Net Banking, NEFT/RTGS, payment gateway charges, time, fund withdrawal process, and more.

Espresso Sharekhan Fund Transfer through UPI

Online fund transfer through UPI is the simplest and the most preferred route to add money in your trading account. You can choose any Unified Payment Interface (UPI) as your payment mode and transfer funds immediately. The UPI must be linked with the same bank account registered with your Espresso Sharekhan trading account. Payment from any unmapped bank account is considered as third party payment, the request will be rejected, and the funds will not be credited into your trading account.

Steps to add funds in Espresso Trading Account using UPI

  1. Login to the Espresso App or website.
  2. Go to the “Menu” option and click on the “Fund Transfer” option.
  3. Here, you will see three options, “Add Funds”, “Withdraw Funds”, and “Allocate Funds”.
  4. Tap on the “Add Funds” option.
  5. Select the “UPI” option.
  6. Enter the amount you wish to add, select bank account, and the segment (Equity A/c, Commodity A/c, Currency A/c, and EMF A/c).
  7. Enter your UPI ID and tap on the “Transfer Funds” option.
  8. Now, you will receive a payment mandate request on your UPI app.
  9. Accept or authorize the payment request and the funds will be immediately credited to your Espresso Sharekhan account.

Espresso Sharekhan Fund Transfer through Net Banking

If you do not use any UPI app, you can add funds in their Espresso account using their bank’s net banking portal. The process to transfer funds in Espresso through Net Banking is 100% online and the funds will gets credited immediately.

Steps to transfer funds in Espresso Sharekhan through Net Banking

  1. Log in to your Espresso Sharekhan Account.
  2. Go to menu and click on the “Fund Transfer”.
  3. Now tap on the “Add Funds” option.
  4. Select the “Net Banking” option.
  5. Enter the amount, select bank account, segment, and tap on the “Transfer Funds” option.
  6. The page will direct you to the net banking portal.
  7. Enter net banking user ID and password to log in to your bank account.
  8. Authorize the payment and that’s all, funds will be credited to your Espresso Demat Account.

Espresso Sharekhan Fund Transfer through NEFT/RTGS

If you neither use UPI nor net banking facility, then NEFT/RTGS is an option for you. To transfer funds to Espresso Trading account from your bank account, don’t forget to select “NEFT/RTGS” option under the fund transfer option. Below are the Espresso Sharekhan bank details to add funds in Espresso Equity, Currency, and Commodity segment.

Espresso Sharekhan Bank Account Details for NEFT/RTGS fund transfer;

Equity/FNO Segment Currency Segment Commodity Segment
Beneficiary name Sharekhan Comtrade Pvt Ltd Sharekhan Comtrade Pvt Ltd Sharekhan Comtrade Pvt Ltd
Beneficiary Account ESPEQT20000004 ESPCUR20000004 ESPCOM20000004
Bank Name HDFC Bank HDFC Bank HDFC Bank
IFSC Code HDFC0000060 HDFC0000060 HDFC0000060

Espresso Sharekhan Fund Transfer Charges

UPI Free
Net Banking Rs. 9 payment gateway charges
NEFT Free
RTGS Free

Important Points;

  • Espresso Sharekhan charges zero fee on fund transferred from selected banks; Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Kotak Mahindra Bank.
  • Espresso doesn’t charge any fee on fund transfer through NEFT/RTGS, but bank charges will be applicable.

Espresso Sharekhan Fund Transfer Timing

Check out the table here to know the time required to transfer funds to your Espresso Sharekhan account;

UPI Instant Fund Transfer
Net Banking Immediately or Max 24 hours
NEFT/RTGS 4 working hours

Note: If funds are not yet credited into your Espresso account within the above prescribed time limit, drop an email at [email protected].

Espresso Sharekhan Fund Withdrawal Process

Customers can withdraw funds from their Espresso Trading Account online using the Espresso trading website or mobile app. The broker charges zero fee on fund withdrawal from the trading account.

Steps to withdraw funds from Espresso Trading Account;

  1. Login to the Espresso Trading Account.
  2. Under the menu, click on the “Fund Transfer” option.
  3. Now, tap on the “Withdraw Funds”
  4. The page will show the withdrawal balance, that is actually the maximum withdrawal limit.
  5. Enter the amount you want to withdraw, select the segment, and submit it.
  6. Once the withdrawal request is processed, the funds will be credited into your mapped bank account.

Espresso Sharekhan Fund Withdrawal Time

    All the withdrawal request placed from Monday to Friday and on 1st, 3rd, and 5th Saturday before 10AM then the request gets processed by the afternoon, and you will get funds into your bank. However, if you’ve placed withdrawal request between 10AM-2PM from Monday to Friday and 1st, 3rd, and 5th Saturday, then the requests will be processed by evening of the same working day. However, fund withdrawal requests placed after 2 PM will gets processed next working day. Withdrawal request placed on any bank holiday and 2nd and 4th Saturday will be processed on the next working day.

Last updated on 7th Jul 2022

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Zerodha FAQs

Once you have placed a fund withdrawal request in the Espresso Sharekhan account, you can check the status online under the “Fund Transfer” tab on the Espresso Sharekhan website or app. If the request is not yet processed then the withdrawal request status will be shown as “Pending” or if processed, then amounts withdrawn will be debited from the cash balance.

 

Although all the fund transfer requests placed via Net banking will be immediately transferred into your Espresso Trading account however, there may be some situations of technical issue, gateway connectivity issue, etc. where funds may get debited from your bank account but not credited into the Espresso account. All the unsuccessful transactions will be reconciled by bank within 24 hours and once the confirmation is received from the bank, funds will gets credited.

 

Withdrawal balance is the maximum amount available to withdraw from Espresso Account. You can check withdrawal balance online by log in to your Espresso Account. Log in to the Espresso Account, go to the “Menu” option, tap on the “Fund Transfer”, and then click on the “withdraw funds” to check the withdrawal balance.

 

No, Sharekhan Espresso only support online payment from the registered bank account and does not accept offline payment through cheque collection.

 

Yes, Espresso Sharekhan offers a fund allocation feature to all users to allocate funds to various segments or transfer funds from one segment to another (Equity, commodity, or currency).

  • Log in to the Espresso Trading Account.
  • On the top-left side, click on the “Fund Transfer” option.
  • Now, tap on the “Allocate Funds”.
  • A new window will be displayed, enter the amount, and select the right segments.
  • Select Equity A/C from and Commodity Account to option, and then tap on the “Transfer Funds” option.
  • Funds will be immediately transferred from one segment to other segment.

Note: Customers can allocate funds or transfer funds from one segment to another by 5PM.

 

No, withdrawing funds from the Espresso Trading and Demat account is absolutely free and charged with zero brokerage fees. Customers can place fund withdrawal request online using the Espresso website or Espresso Sharekhan mobile app.

 


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