List Of Payment Gateways In India-How to Dodge Payment Gateway Fees When Trading with Zerodha in India
Dodging payment gateway fees when trading with Zerodha or any other broker is not a recommended practice, as it may involve unethical or illegal actions. However, there are legitimate ways to minimize the fees you pay when transacting with your trading account. Here are some strategies you can consider:
1. **Use the Zerodha Coin**: Zerodha Coin is a facility that allows you to hold your equity investments in the form of digital tokens. When you buy or sell stocks using Zerodha Coin, you can save on the payment gateway fees since the transactions are settled within the Zerodha ecosystem.
2. **Bank Transfers**: Instead of using credit cards or other payment methods that may charge fees, you can use NEFT (National Electronic Funds Transfer) or RTGS (Real Time Gross Settlement) to transfer funds directly from your bank account to your Zerodha trading account. These methods usually have lower or no charges associated with them.
3. **Lump Sum Deposits**: If you frequently trade, consider depositing a larger lump sum into your trading account at once instead of making multiple small deposits. This can reduce the number of transactions and, consequently, the fees you pay.
4. **Utilize the Zerodha Margin Trading Facility**: If you’re trading on margin, Zerodha offers a product called ‘COIN’ which allows you to trade without having to pay upfront for the stocks. This can help you save on payment gateway fees as you’re not transacting as frequently.
5. **Avoid Withdrawals**: Each time you withdraw money from your trading account, you may be charged a fee. By minimizing the number of withdrawals you make, you can reduce these fees.
6. **Check for Promotions**: Sometimes, Zerodha or other payment gateways may offer promotions that waive fees for a certain period. Keep an eye out for these offers and take advantage of them when available.
7. **Use the Zerodha App**: The Zerodha mobile app and web platform are designed to facilitate seamless transactions with minimal fees. Using the app’s built-in features can sometimes help you avoid extra charges.
8. **Annual Plans**: Zerodha offers annual subscription plans like the ‘Vara’ plan, which can be cost-effective if you trade frequently. These plans often include benefits like zero brokerage for equity delivery trades and reduced fees for other types of trades.
Remember, while it’s important to manage your trading costs, it’s equally important to trade ethically and within the legal framework provided by SEBI (Securities and Exchange Board of India) and other regulatory bodies. Always ensure that you are aware of the terms and conditions of your trading account and the implications of any actions you take to reduce fees.
