We’re excited to introduce not one, but two powerful new features at FYERS, designed to make your trading experience smoother than ever. With Instant Withdrawal, you can access your funds immediately after placing a request—no more waiting around. And with our Quick Bank Account Linking process, adding a new bank account is now faster and easier using QR code scanning or IFSC, skipping the Aadhaar e-sign step entirely. It’s all about making things simpler, quicker, and more efficient for you.
Presenting Our Latest Fund Transfer Features
1. Instant Cash Withdrawals
With our new instant withdrawal feature, you can now withdraw up to ₹1 lakh directly to your bank account within 60 seconds, whether you’re using our mobile or desktop platform. This means you no longer have to go through a lengthy process to access your money when you need it most.
Here's a scenario where instant fund withdrawals could be useful to a trader.
Dinesh has ₹1.5 lakh in his trading account. Due to a personal reason, he urgently needed ₹1 lakh. With FYERS instant withdrawal feature, he can now withdraw the ₹1 lakh he needs to his bank account instantly, without any delay or hassle, ensuring he has access to his funds when it matters most.
Here's a screenshot of how you can place an instant withdrawal request on our app.
Also, here's a screenshot of the to help you navigate withdrawals on our web platform.
Note: To qualify for an instant withdrawal, there must be no open positions or any open or executed orders in your account.
2. Automated Mandate Creation
You can now set up automated daily, weekly, monthly, or quarterly bank transfers to fund your trading account, reducing manual efforts. This is particularly useful after quarterly settlements when your funds are paid out every three months. Setting up an mandate in advance ensures that your trading account always remains funded for your next big trade!
Examples
Mandate creation helping a GTT order
Deeksha has set up a Good Till Triggered (GTT) order (An order that stays active for up to a year until the price you set is reached) to buy 100 qty of Reliance Industries at Rs 3000 a piece and is worried that after quarterly settlements, her trading account will be out of funds.
She can easily set up an automatic transfer after quarterly settlement to ensure that her trading account has adequate funds to match her GTT order whenever the price hits her target.
Mandate creation helping an Algo Trader
Ajay, an algo trader uses FYERS API and has set up a trading strategy that requires regular fund inflows. Setting up periodic mandates as per his strategy ensures that his trading account is always funded.
Here are some screenshots to help you navigate this process on our app and the web platforms.
3. Faster Bank Account Addition
Linking new bank accounts is now quicker with QR code scanning or addition of IFSC. This process saves you from the Aadhaar e-sign step, allowing your bank account to be added instantly using your UPI ID.
Imagine needing to add a new bank account during the trading day. With our new and improved process, you can do it in no time.
We've also enabled easy management of bank accounts, along with the ability to track activation and deactivation, or personalise your accounts with nicknames.
A screenshot to help you understand the process on our web platform.
4. Revamped Funds Page
We've redesigned the funds page to offer you a consolidated view of your transaction history. This allows you to track additions and withdrawals in a single section effortlessly. Further, advanced filters help you sort transactions based on type and status. You can also choose to generate and download comprehensive reports for better financial analysis.
Here's a screenshot of how the revamped fund page looks on our web platform.
An example to show how availability of fund transaction history can be helpful-
Assume Rahul, a trader is analyzing his trading performance over the previous quarter, the ability to generate a detailed transaction report can help him identify patterns and make informed decisions in future.
Ready to experience these new features? Download the FYERS App today and start managing your funds with ease. Don’t forget to refer your friends and family and help them simplify their trading experience.