If your Mutual Fund SIPs are via PPB and you already have a Secondary bank account on Upstox:
- We will migrate your existing SIP to that mandate
- If you don’t have any bank mandate available, we will transfer your SIPs to your Secondary bank account and you will receive a mandate approval email. Please approve the mandate by following these steps:
Step 1: You will receive a mandate approval email. Tap on ‘Click Here’ to authenticate the eNACH mandate
eNACH stands for Electronic National Automated Clearing House. It's an easier way to automate and handle recurring payments such as telephone bills, insurance premiums, utility bills, SIPs etc.
Step 2: You will be directed to the email authentication page by BSE StAR MF
Step 3: Click on the ‘Continue’ button, you will receive a security code
Step 4: On entering the security code, you will be directed to the 'Set up AutoSIP' Mandate page. Here, select your preferred verification mode, either NetBanking or Debit Card, agree to the Terms & Conditions, and proceed by clicking Submit.
Depending on the mode chosen by you in the above screenshot, you will be redirected to your respective banking portal to authorise the mandate.
Step 5: Following that, you'll be directed to the Mandate Approval Automation page, where you can review the details of the mandate.
Step 6: Lastly you will see the following message confirming your AutoSIP request with a success or failure response.
Your mandate will be approved within 5 working days.