Discontinuation of pooling for mutual funds and how it affects Coin

[Gaurav_Bhandari]

Tried paying for an AMC SIP using UPI today and it went through. Thanks @Bhuvan and team. But do we have to do this for all the SIP’s which are on the same day individually or is there any way to club them in one and pay only once.

[SanJanJayadevan]

Usually We Need To Pay ₹9+ GST For Adding Fund To Zerodha’s Trading Account Via Netbanking .(I Prefer HDFC Transfer to Zerodha’s eCMS Account Which Free And Instant)
Which Is Little High Compared To Competition. So After We Can’t Use Trading Account Balance For MF Investment. In Payment Page We Have Two Option To Pay 1. UPI 2. Netbanking.

So My Question Is Did We Need To Pay ₹9 + GST For MF Investment Via Netbanking.

[Bhuvan]

@Harish16

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.

Yep, there’s a retry payment option now.

[Bhuvan]

@Gaurav_Bhandari

Tried paying for an AMC SIP using UPI today and it went through. Thanks @Bhuvan and team. But do we have to do this for all the SIP’s which are on the same day individually or is there any way to club them in one and pay only once.

We’re working on two things:

1. A single payment for all orders
2. Mandates for automated payments

Since this was an extremely complicated transition to say the least, we had to take the basic flow live and resolve the issues. Please bear with us for a bit.

[Bhuvan]

@SanJanJayadevan

Usually We Need To Pay ₹9+ GST For Adding Fund To Zerodha’s Trading Account Via Netbanking .(I Prefer HDFC Transfer to Zerodha’s eCMS Account Which Free And Instant)
Which Is Little High Compared To Competition. So After We Can’t Use Trading Account Balance For MF Investment. In Payment Page We Have Two Option To Pay 1. UPI 2. Netbanking.

So My Question Is Did We Need To Pay ₹9 + GST For MF Investment Via Netbanking.

No charges for payments.

[Bhuvan]

@Satyakam_Chaudhary

Now UPI payment also happening.
Thanks @Bhuvan

Yep, sorry for the issues. It’s been a bit of a nightmare

[Bhuvan]

@Ashwin_Gupta

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?

No, Ashwin. NEFT and IMPS aren’t supported for supported. You’ll have to use netbanking. But this won’t be an issue once the mandates are live

Discontinuation of pooling for mutual funds and how it affects Coin

We’re working on two things: A single payment for all orders Mandates for automated payments Since this was an extremely complicated transition to say the least, we had to take the basic flow live and resolve the issues. Please bear with us for a bit.

[Bhuvan]

@srinisomala

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

This cut-off is from BSE and the payment gateways. We’ll try working with them to see if we can push this a bit further.

[gpgane]

Placed 2 different orders for same fund via netbanking. Both will be processed ?

[Avinash_Shankarpalli]

Hi Team,

I have a sip’s scheduled for tommorrow(5th).So by when will i get the sip’s in pending payments list? Will that happen today or tommorrow(on the sip day)?

[Bhuvan]

@NKhandelwal

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.

The date on which you make the payment and BSE receives it.

@NKhandelwal

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.

Yes, you can.

@NKhandelwal

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.

NEFT and RTGS can only be used for lumpsum orders. They cannot be used for SIPs BSE/ICCL will match the bank details of your Zerodha account with the source of the funds, that’s how they’ll know. If you have transferred by mistake, the funds will be refunded automatically. But please don’t transfer

[Bhuvan]

@Amisha_Babaria

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

You should be now.

[Bhuvan]

You can see all the pending orders now and please ignore that email.

[Bhuvan]

@Aurko

So the AMC SIPs which are going through BSEStarMF will continue to operate the same after 1st April. Is my understanding correct or that will have to change too?

Nothing changes. You can go to the app and make the payment.

[Bhuvan]

@jkshah001

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?

For now individually, but we’ll soon have a single payment for all orders and mandates as well.

[Bhuvan]

@gpgane

Placed 2 different orders for same fund via netbanking. Both will be processed ?

Yes.

[kuldeept]

Hi @Bhuvan,

How to buy mutual funds as of today? I have my company/corporate account in Zerodha.

1. UPI - not available for Pvt. Ltd. company in ICICI Bank.
2. Net banking - It’s redirecting to the retail ICICI login page, and there is no option for corporate login.

Now, who should I complete the pending transaction?

[A_K_RAGHAVENDRAN]

Hi, @Bhuvan made a payment through ‘BUY MORE’ option for an existing fund on July 1st before 12 pm, the payment succeeded. Today when i checked in AMC Website’s account statement i couldn’t find the units allotted for the purchased date neither the transaction for that date. Am I one among others ? or rare case of left outs ?

[agnivo007]

2nd and 3rd were not business days…you should be getting today what I understand. Even I’ve made 2 payments on 1st around 12 and coin status shows payment successful, order sent to amc.

[Wal]

@Bhuvan - Will it take T+1 NAV only now? I’ve made a payment before cut of but got confirmation only on T+1 day. Seems it’s not cleared on the same day. Is this the new normal?