I recently had an unsettling experience with my Dhan Account that I think is worth sharing with the community. I attempted to withdraw some money, and the available balance indicated that I could do so. However, when I initiated the withdrawal, it unexpectedly failed, leaving me in a bit of a predicament.
What was particularly frustrating was the subsequent process. After the failed withdrawal, I was informed that it would take 24 to 48 hours for the balance to be updated in my Dhan Account, and then another 24 hours before I could attempt another withdrawal. This raises some serious concerns, especially when it comes to emergency situations.
In times of urgent need, waiting for up to 72 hours to access our own funds can be incredibly frustrating and inconvenient. It’s essential that Dhan prioritize user convenience, especially when it comes to managing our hard-earned money.
Yes, earlier at Dhan we used to process 99.9% of instant withdrawals within minutes (keeping aside rejections for margin obligations) and rest were processed upto 6 times in India.
Recently there have been changes on how Stock Broking platforms handle funds based on the regulations and guidelines prescribed by SEBI, Exchanges and the Clearing Corporations. As a result of same, this has affected our withdrawal processes and we have written about this in detail here:
To keep it simple, on trading days please request for withdrawal before 5 PM. And withdrawal requests placed on weekends or bank holidays will get processed only on next trading day when markets open. We will also be updating communication to make these clear across all platforms.