Why is the payout amount from Jainam is less than what was requested by the client?

Why is the payout amount from Jainam is less than what was requested by the client?

  • The actual payout amount could be lower than the requested payout because the withdrawable balance can reduce due to reconciliation and settlement process which are done after the market hours.
  • When the charges, penalty and net obligation (any trading losses) for the day are debited from the client’s account then, the payout amount will be lower than the requested amount.
  • The end of day process happens mainly after 3.30pm to 12pm. and all of these charges are depended on the exchange.

RELATED FACTS: -

  • A client cannot place a withdrawal request greater than the available balance shown in his trading account in Jainam's backoffice.If a withdrawal request for an amount higher than the withdrawable balance is placed, then the available withdrawable balance will be credited to the bank account. 
    If the client's ledger credit balance is ₹10,000 after all charges (i.e., withdrawable balance), he requested payout for Rs 10,500.In such a case, he is eligible for an actual payout of ₹10,000 only.
  • If the payout request is for an amount lower than the withdrawable balance, then the whole requested amount will be credited to the bank account.
    If the payout request is of₹ 9,500 but the available withdrawable balance is ₹10,000, then in such a case the actual payout will be ₹ 9,500.
  • If a client is placing a payout request during the market hours and also buying stock during the market hours in a day, then the payout will be given only for the clear balance or withdrawal balance left after paying for the stock.
    For example, if a client has a credit balance of ₹1,00,000 and has placed a buy order for 60,000 and also placed a payout request for ₹ 50,000.
    In such a case, the payout will be given only for ₹ 40,000 by the end of the day because the clear/withdrawal balance available will now be ₹ 40,000 only (1,00,000 - 60,000).
  • The funds deposited to the trading account during the day are available for trading immediately, but they can be withdrawn only on the next day due to the end-of-day settlement and reconciliation processes, because of which the payout amount could be lower.