Tutorials

All You Need to Know to Deposit Funds using Netbanking Instantly on CoinDCX

Snapshot

  1. Now deposit INR in your CoinDCX wallet by using Netbanking (IMPS / NEFT / RTGS) instantly.
  2. The service to deposit funds is available 24 hours a day/7 days a week/365 days a year.
  3. Only one INR deposit order can be placed at a time. This order can be edited as per requirements.

 

Being our customer, you already know CoinDCX provides instant crypto and INR deposits directly using your bank account with zero fees. With the help of CoinDCX’s innovative technology and advanced payment terminals, CoinDCX processes these deposits free of cost. This service facilitates real-time deposits of funds from all banks currently connected to the NPCI platform. And that’s not it, this service is available 24 hours a day/7 days a week/365 days a year, setting a new standard for money transfer services.

We understand how important it is to make a deposit for you directly from your bank on your own terms as this step holds a crucial step in starting your trading runs. To deposit INR using your bank account, CoinDCX provides 3 options.

Everything you need to know to deposit using Netbanking (IMPS / NEFT / RTGS) instantly

When you click on ‘INR’ on the Deposit screen of CoinDCX, the following screen appears.

Click on the first option — IMPS / NEFT / RTGS (Instant)

Enter the Amount you wish to deposit in your INR wallet.

Click on ‘CONTINUE’. The following screen appears.

You can use the details above to transfer your funds via IMPS, RTGS, or NEFT. The account number mentioned above is unique to your CoinDCX account. All the funds deposited in this account number will be deposited in your INR wallet. The moment you click ‘CONTINUE’ in the previous screen, you have 60 minutes to deposit funds using the details mentioned above.

Auto-cancellation and Auto-filling of Orders

The order gets automatically canceled if the funds are not deposited within 60 minutes. Here are the following conditions and the steps you need to take if your funds are not deposited:

  1. If you have not sent the funds from your bank in this period, you will need to recreate an INR Deposit order and start the process again.
  2. Transfer methods like RTGS have their time of fulfillment set by RBI guidelines. The transfer of funds is entirely out of control of CoinDCX as the bank and the RBI rules applicable to RTGS transfers will take their time to complete the transaction. This entire verification process can take more than 60 minutes to complete. If your funds are deducted from your bank account, create a duplicate INR Deposit request. You will be required to mention the same amount in this Deposit Request. The Deposit request will be auto-filled and the funds will be deposited instantly in your INR wallet. Please don’t recreate the deposit request if the funds are not deducted.
  3. IMPS requests are instant when the deposits are below the limits set by the bank. If the fund transfers are delayed from the bank’s side by more than 60 minutes, your Deposit order is auto-canceled. If your funds are deducted from a bank account and didn’t reach your INR wallets after 60 minutes, recreate a duplicate INR Deposit request as mentioned in the previous point. Keep the Deposit Amount the same as the original order. and your funds will be deposited instantly.

Editing / Canceling the Open Order

You always have an option of editing or canceling the opened order when you have used the Instant Net Banking Transfer options. Only one INR Deposit Order can be placed at a time. After placing an order, when you click on INR on the Deposit Screen, the following screen appears.

 

This screen provides you the options of editing and canceling your INR Deposit order.

  1. You can cancel the order anytime before the funds are deposited. If there is a delay from the bank and the funds are deducted from your bank account.
  2. You can’t edit the INR Deposit order directly. Please contact our support team to edit the order.
    OR
    You can cancel the current order and place a new deposit order with your updated changes. Canceling and placing a new order will not result in any charges from your funds (recommended).

If you place deposit orders using the standard Net Banking services like IMPS, RTGS, and NEFT (2nd option in the first figure), you will not have the option of editing the order. However, you can cancel the order at any time. All the funds will be refunded back to your original source of transfer in case they have been deducted from your account.

We have promised to provide you the safest environment to trade cryptocurrencies with the best possible technology, partnerships, platform integrations, and compliance. With instant deposits at zero fees directly from your bank accounts, CoinDCX has become a platform where you can have a seamless trading experience without a sweat.

So tighten up your seatbelts and start trading.

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