Frustrated with the transmission speed of funding your Vested Investing account from your INR account? We have the solution for you!
We are introducing “Instant Funding” capability on our platform.
What is instant funding?
It’s a system that allows us to increase your “Buying Power” instantly, once your Vested Direct transfer is submitted. You no longer have to wait 1 – 2 business days for the USD to arrive in your Vested investing account!
How does it work?
Instant funding is an extension of Vested Direct. If you are a Vested Direct user, “Instant Funding” will be automatically turned on for you at no additional cost. You do not have to take any action.
Once you submit the Vested Direct transfer, you should see an increase in “Buying Power” once our banking partner has approved the transaction, typically in a couple of hours. Once your buying power is increased, you will be able to start investing immediately.
“Instant Funding” is not a margin. Rather, it is the speedy delivery of funds that you have committed to deposit. As such, we need to prevent inadvertent extension of margin; which means:
- Although the funds are instantly available to invest with, they are not available to be withdrawn until the cash is settled (which typically takes 1 business day)
- You cannot immediately sell securities (stocks, ETFs, Vests) that were purchased with instant buying power. You can sell after the cash is settled (which typically takes 1 business day)
- “Instant Funding” is not available if your account is “Restricted” (occurs when you have incurred more than 3 good faith violations, which is a Freeriding violation. Please read this SEC bulletin to learn more). If your account is “Restricted”, you must wait until the cash settles (1 – 2 business days) before the buying power is available to you. Restricted status resets after 90 days after your account is restricted. You can look at your account status under the “Profile” section of the app.
- For now, Instant funding is available between 10 am IST to 6 pm IST.