How do I cancel my e-Mandate?
An e-Mandate allows you to schedule automatic fund transfers from your bank account to your trading account. You can cancel your scheduled transactions at least 3 working days (4 working days for SBI accounts) before the next account credit date as shown below:
If you cancel your schedules after receiving an email confirmation for an upcoming debit, funds will still be debited from your account and added to your Zerodha ledger. However, the future debits for the given schedule will be canceled.
You can also completely cancel your e-Mandate on Console by following the below steps:
- Select the Delete mandate option.
2. Confirm the deletion request.
3. Mandates that are under process show up with the Pending Cancellation status.
An e-Mandate generally takes up to 5 working days to get deleted. Once your bank confirms the deletion of the mandate, you will be able to create a new mandate.
Check out this article to know how to set up a new e-Mandate.