Why did I get a message saying that my withdrawal request was processed even though I didn't place a withdrawal request?
As per this circular by SEBI, if you haven’t made any trades in 30 days, the money in your trading account will be sent to your primary bank account linked with Zerodha.
During the Quarterly settlement process(90 days), you will receive the same message indicating that the withdrawal request was processed even if you haven’t placed a withdrawal request.
You will get an email intimation from us regarding the same, and whenever a payout is processed, you will get an SMS with the below message -
Dear [Name], Your withdrawal request for Rs. [Amount] has been processed.
To learn more about the Quarterly settlement/Running account settlement and its impact, you can read this support article.