I have made payment for my SIP scheduled for today directly to Indian Clearing Corporation Limited via UPI according to this article as I didn’t receive any link. Will it be counted for SIP order? Please let me know at the earliest
@Bhuvan
I placed the redemption order on 28-6-2022 for TATAFUND T+5 day is the settlement, The redeemed value will be credited to the Bank account or Zerodha trading account on T+5 days?
I think some of them got the payment link from BsE Star… however that doesn’t seem to work reliably. check the latest status here Issue with mutual fund transactions on Coin (zerodha.com)
I think soon we would be notified about the payment link (I see a new page Coin by Zerodha - Buy and sell thousands of commission-free direct mutual funds in seconds in coin portal, which i am guessing is where you would be making your payments once enabled)
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I have SIP due today (July 1, 2022). I did not receive any email from Zerodha with payment link.
I see “Pending” link under Payments in Coin but there are no pending payment link available to pay.
Let me know when this gets fixed.
Hey everyone, really sorry. We tried making the new flow live in the morning, but we immediately faced serious issues with the exchange and payment gateway dependencies. The issues were across the industry. We’ve worked overtime, and the issues are fixed now, and you should have received emails for the SIPs due today.
Important: You will probably receive an email from BSE with the subject “ORDER INITIATE MANDATE EMAIL” with the payment link, please ignore that email.
Payment steps
- You will receive an email with a link to a Coin page where you will see all the pending SIPs. Select the SIP and make the payment through UPI and netbanking.
- Important: NEFT & RTGS cannot be used to make payments for SIPs. If you have added the beneficiary details, please don’t make fund transfers using NEFT or RTGS for SIPs.
All the orders that you make payments for will be processed on Monday. Check this article to know about the NAV at which the units will be allotted at.
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Hi @Bhuvan , I tried payment for one of my AMC SIP but the payment failed. Now it’s showing as rejected in Coin. Will I get another option to pay for tomorrow or will that payment be skipped for the month? Can you confirm on this part of the workflow, what happens if payment fails, since the link to try again is not there now.
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Hi @Bhuvan i have one fund already in my portfolio
I tried to create SIP for that today but i am getting error in coin that
" Orders are temporarily not taken due to changes in fund flow etc"
This error is coming in coin app
May i know when can I add new SIP for my fund ??
Why cany i setup i was trying to set for 10 July
Also i placed some redemption on 29th which was processed on 30th completed
Where will I get the funds of redemption?
Trading or Bank account?
Please help clarify
Thanks for sharing this link @Pradeep_A
It explains that issue is there with BSE Star and coin integration hope @bhuvan and team resolve this ASAP along with BSE Star mf
Also until when are new orders SIP/lumpsump for Buy MFs is blocked???
Estimated date for enabling this?
Atleast allow to setup SIPs and select date as 10th July onwards
HI @Bhuvan , Let’s say if I have 5 SIPs, do I have to pay for each SIP separately 5 times? Or can it be combined in a single transaction with sum value?
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+1 same issue
Tried payment, got failed immediately and payment rejected. No way to retry!
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I was able to make the payment for my SIP’s via the Coin Web App using NetBanking. Any attempt to make the payment using UPI failed. I tried it from different accounts and different UPI addresses - none worked. NetBanking payment for some banks like Bank Of Baroda failed to initiate.
Its super inconvenient to pay for each SIP separately. I am just hoping that these issues get resolved soon and the smooth workflow of SIP is restored on Coin. Getting the mandates functional might help with SIP automation.
@Bhuvan Please help with the below query.
I had 3 SIPs (not AMC) on 1st July. for which I initiated the payments based on the mail received from Coin,
- UPI payments failed 3 times
- Net banking worked, but one payment was stuck and later succeeded. Outcome, I have double payment for one of my SIPs.
Assuming the mandates to Indian Clearing Corporation Ltd. were in sync with my SIPs as I have received confirmation mails from Zerodha for my SIP orders, but have not received any confirmation for the double payment (i.e. additional order confirmation)
Questions:
- Will this additional payment result in one more investment to the fund? how to check for the confirmation
(I don’t have a mail but order status in coin dashboard is “processing”, but with remark “Order placed - pending payment” → I have a successful transaction detail with transaction id) - or the funds stays with ICCL?
- or additional funds are reversed to the account?
- Can we check the fund balance with ICCL?
If SIP was for X and transfer is done for Y,- If X<Y there will be additional balance with ICCL
- If X>Y there will be a fund deficit, in this case will the SIP order be confirmed with Y amount or SIP fails and Y amount is treated as additional amount? What is the flow of fund here.
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@Bhuvan I am unable to make payment for my SIP’s via Coin Web or IOS App using UPI. Also I do not have option of Net Banking available. All my transactions failed. I have neither received an email from BSE with the subject “ORDER INITIATE MANDATE EMAIL”. What shall I do?
Hi @Bhuvan i have not received any email from BSE or Zerodha. Also I don’t see any link for payment on the Coin app. My SIP is due today. Please help
@Bhuvan @ShubhS9 kindly let me know the answer of the below questions…
- If i miss any of my sip on the due date and the link for the payment will be available for 5 calendar days…and if i pay on let say on 3rd calendar day…so here the NAV will be of SIP due date or of the payment date.
2.what are the cut off time for sips…is it same as lumpsum orders.
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I came to know that zerodha will send the payment link one day prior to the SIP due date…is it possible to pay on that day itself i.e. one day prior itself…if yes then which days NAV will be applicable.
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If l have added some funds in ICCL yes bank thru NEFT or RTGS then how to know status of the payment and if let say have mistakenly added some funds in that bank without any mf orders pending then how to get those funds back.
Thanks.
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Hi, are you working towards increasing the cut-off time closer to 3 PM? This is the cut-off time while transacting on the respective MF website and it is 2:30 PM on aggregator sites like MFU. Redemption cut-off can be moved to later than 2 PM because no payment transaction is required. regards
A later cutoff time gives investors a better decision point
Can I transfer funds using NEFT in CCIL account for MF SIP orders below Rs. 1Crore?
Can I set standing instructions on my bank account to transfer funds on my SIP Date?