The SIP funds transfer process is automated. If you have an approved AutoPay mandate, the payment gateway would schedule a deduction request with your bank upto 10 days prior to the SIP date. Banks should then process the deduction on the SIP date. Usually, deductions should happen on t or t+1 business day.
If the SIP due date is past and your bank has not deducted funds for your SIPs, then there may be an issue with the AutoPay mandate.
If your SIPs are attached to a BillPay AutoPay mandate, please check that the mandate is registered with AutoPay enabled. You can check this in the Biller Registration section of your bank.
· If not enabled, the bank would require you to approve each SIP transaction which requires your manual intervention, is time sensitive and your bank may not be displaying the SIP dates correctly. You can use the modify/edit option to enable AutoPay if it is not enabled.
· If already enabled and there was no deduction even a few days after the SIP date, then this could be a technical error at the bank's end in processing this month's deduction.
If your SIPs are attached to a OneClick AutoPay mandate, you have either not completed mandate authentication or the mandate is still under processing with your bank.
· If you have not completed mandate authentication, please visit the bank account(s) section in Kuvera and see the next steps.
· If you have completed mandate authentication, then please give it a few days and once the mandate approval comes through, we will inform you. Then further SIPs should get processed without issue.
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