All About Withdrawals

Muthukumar Marappan2 years ago

We’ve had a number of questions about our withdrawal processing. I hope that this blog post would give you a clear idea about the same. 

Withdrawals

First of all,
1. There is no limit on how much money you can hold in your Zilra wallet.
2. There is no limit on how long you can hold your money in your wallet. We wouldn’t force you to withdraw, just so we could make money on your withdrawals – that would be evil! We’re the good guys.
3. You don’t have to withdraw all the money in your wallet in one go. You can withdraw just part of your money and keep the rest in your wallet to pay others.

While requesting a withdrawal, please note that we have a cut-off time at 8 PM (IST) for every business day. If you manage to put in a withdrawal request before 8 PM on business day, you will get your money in the bank within 2 weekdays. For instance, if you manage to request withdrawal by 7.30 PM on a Monday, you will get your money in the bank by Wednesday. In case you request withdrawal at 9 PM on Monday, since it is after our cut-off time, you get your money in the bank by Thursday. The reason that we process your withdrawals on weekdays alone is because the forex departments at banks do not work on weekends.

Here are the processing times for withdrawals requested on the other days of the week

Thursday before 8 pm – Following Monday (2 weekdays – Friday & Monday)
Thursday after 8 pm / Friday before 8 pm – Following Tuesday (2 weekdays – Monday & Tuesday)
Friday after 8 pm / Monday before 8 pm – Following Wednesday (2 weekdays – Monday & Tuesday)

Please Note – While we strive to get your money in your bank as quick as possible, it is not possible for us to process your withdrawal within 2 business days if there is a bank holiday either in the US or in India (specifically in the state of Tamil Nadu). Here’s a list of all the banking holidays in the US and TN.