Discontinuation of pooling for mutual funds and how it affects Coin

[Bhuvan]

@nikhil27

pls start e mandate for Sipping through coin , it should be automated else it’s very difficult to pay in the morning for the SIP on that day after receiving the mail. Hope to hear the automation related news soon from you

Yes, agreed. We’re testing the mandates as we speak, but there are some issues. We’re working with the banks and the payment gateways to have them as soon as possible. Please bear with us.

[Bhuvan]

@sn2006

You said that payments can be made through UPI, NEFT, RTGS and Net Banking. Is it possible to make the payment for mutual fund through Billdesk linked with same bank account?

NEFT & RTGS can only be used for lumpsum and not SIPs. UPI and netbanking can be used for SIPs.

[Bhuvan]

@Nilesh_Rathi

I made 5 SIP payments on July 1 and they were all successful. I have gotten allotment for 3 of those funds today and 2 of them are still processing? Both of them are funds from Navi. Is there some issue with placing orders for Navi? Or is there some other reason?

The NAV will be allotted based on the date the exchange receives the funds. We’re not in control of the funds anymore expressionless:

[grvkmr07]

@Bhuvan
So since now things are beyond your control, we are to expect that units shall be allotted in T+ n days (where n can be anything). Is it the case?

[sn2006]

Please tell me about payment through Billdesk linked with same bank account.

[Bhuvan]

@grvkmr07

So since now things are beyond your control, we are to expect that units shall be allotted in T+ n days (where n can be anything). Is it the case?

barring extreme cases, T or T+1 day for the NAV

[grvkmr07]

@Bhuvan
Well, taking my case into account- Order placed on Monday & payment done before cut-off time. It’s T+2 today, neither any of the AMCs has sent me SMS notification on units allotment nor Coin is reflected as Order processed. It’s still showing- Payment received, order under process.
Please throw some light on why is it happening?

[agnivo007]

@Bhuvan Please check the screenshots regarding orders made on 1st july and paid using pending payments page. Units received in demat but not updated in coin and showing discrepancies.

Do I need to manually do something or it’d be rectified automatically or need to create ticket?

[Gaurav_Bhandari]

Hi @Bhuvan,

I paid for my SIP order on 4th July but till now it shows as processing. Any idea how much time will it take. The fund is mirae asset emerging bluechip and it is an AMC SIP. The payment was done before the cut off time on 4th and it completed successfully.

[Ukpro]

Went after a lot of tries ! Even today it some of the payments are failing! we have to try multiple times. I am using HDFC bank if that helps!

[Nilesh_Rathi]

Hi, I understand that NAV will be alloted when the funds receive the amount, but it is very strange to me that only the 2 orders for Navi mutual fund (eg. Navi Nasdaq 100 FOF) are still stuck in processing. Is there an issue with placing orders for Navi’s mutual funds?

[Bhuvan]

@agnivo007

lease check the screenshots regarding orders made on 1st july and paid using pending payments page. Units received in demat but not updated in coin and showing discrepancies.

Do I need to manually do something or it’d be rectified automatically or need to create ticket?

No need, will be updated automatically in a bit.

[Bhuvan]

@Ukpro

Went after a lot of tries ! Even today it some of the payments are failing! we have to try multiple times. I am using HDFC bank if that helps!

Shouldn’t be the case. Checking this.

[Bhuvan]

@Nilesh_Rathi

Hi, I understand that NAV will be alloted when the funds receive the amount, but it is very strange to me that only the 2 orders for Navi mutual fund (eg. Navi Nasdaq 100 FOF) are still stuck in processing. Is there an issue with placing orders for Navi’s mutual funds?

When did you place the orders and what time?

[grvkmr07]

Hi @Bhuvan
For me it’s been T+2 today. Payments made before cut-off time. No units allotment yet.

[Nilesh_Rathi]

EDIT: Navi orders also got allotted now. I think I’m used to seeing all orders getting alloted at the same time and so was worried. Will need to get used to this new flow.

I made the payments on July 1st 11pm. Again to reiterate all other 3 SIPs have been alloted and only the 2 SIP orders of Navi are stuck. All payments show up as successful if that helps.

[Jitin_Kumar]

@Bhuvan please tell me what will happen to the amount deducted but status shown in the payment page was failed? I made payment two days ago but haven’t received the refund yet.

[kuldeept]

Hi @Bhuvan, Still waiting for the solution.

[grvkmr07]

@Nilesh_Rathi

Which day’s NAV was allotted to you?

[Bhuvan]

@kuldeept

, Still waiting for the solution.

Sorry, missed this. You can use NEFT or RTGS.