Mandate is a mode of payment to facilitate transfer of funds from your bank. It uses a centralized infrastructure for registering and processing transactions between banks.
A mandate has to be registered with a maximum limit that you can set. This limit is similar to that on your ATM / Debit Card. Only the amount required to fulfill your orders will be deducted by your bank. Funds are always, and can only be transferred to BSEStarMF - ICCL, our transaction partners, who will then send this to the respective fund houses.
There are two AutoPay mandate options available depending on your bank:
OneClick AutoPay Mandate (or ACH Mandate)
- Set OneClick AutoPay amount in bank accounts section and we will send you the next steps.
- You only need to upload a scanned copy of the signed OneClick AutoPay mandate form and we will do the rest.
- Banks usually take about 10 business days to approve a OneClick Mandate. We will notify you soon as we receive the confirmation from your bank and you can start using the OneClick AutoPay mandate for authorising both Lumpsum as well as SIP orders.
BillPay AutoPay Mandate (New BillPay mandate registration has been discontinued)
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