Mutual fund

[an.mayanksaini]

I have mutual funds in Zerodha, and I initiated a redemption request. At the same time, I accidentally closed the bank account linked to Zerodha, not realizing that the redemption amount would be credited to that account within 2-3 days. I also submitted a request to add a new, active bank account at the same time. How will I receive my redeemed funds?"

 

[The INSANE Trader]

I have mutual funds in Zerodha, and I initiated a redemption request. At the same time, I accidentally closed the bank account linked to Zerodha, not realizing that the redemption amount would be credited to that account within 2-3 days. I also submitted a request to add a new, active bank account at the same time. How will I receive my redeemed funds?"

If the closed bank account is no longer able to receive funds, the transaction will fail, and the money will be returned to the fund house or Zerodha. You may need to contact Zerodha's support team to update them about the situation, and they will guide you on how to get the amount re-credited to your new bank account.