So basically, I have created this Jupiter account 2 months ago and since then using it intensively just because of the simple and fun UI and cashback/rewards etc.
So yesterday I thought, why don’t I start my investment journey?
I thought to invest in some mutual funds in SIPs, the AMC was asking about my banking details, and as I was using Jupiter as my primary account, I shared the the details of my Jupiter Account.
The AMC then told me to create a Mandate either via a Standing Instructions or via an e-NACH, which i tried doing using my Jupiter Debit card, but the procedure failed. Later I came to know that this feature is not avilable on Jupiter and the chat support executives really didn’t have any idea wheather this is coming live anytime soon or not?
This feature is heavily required for payments like SIPs/Loans EMI/Recurring Subscriptions and hence should be deemed as one of the most priority feature.
I asked the AMC if they can change my Jupiter Account with my State Bank of India account, but it seems once registerd and verified with the depository participant its not really easy to change the bank account without lofty of appeals/applications writing 1000 reasons to do so.
So I am kinda stuck in the AMC right now, and really don’t see a option to get out of this, unless Jupiter introduce the facility of setting the Standing Instructions/e-NACH
@Jiten @JupiterTeam @Shawnpinto If you guys can give a little more informations about this feature, where it stands in terms of availability, and if I can expect it to see anytime soon or not?
Totally agree with you. We also realising this as important feature. it is at planning stage right now. So should be enabled soon
It’s nice to hear Sir, really looking forward to see it live anytime soon…
Hi. Why dont to create an option for NFC in app itself. I don’t know what it takes but my card was not delivered to me and i was at gas station and the guy asked me to tap and pay but i was not have my card. After that i used UPI for payment. Like Google pay is having this feature of tap and pay why you cannot add this feature in app. Thank you
you can use mfcentral , it was started just few months back. We can change bank account, signature, mob no…etc completely online, that too for All folios, all AMC at once.
As its a service operated by KFintech & CAMS, so completely safe
@Shawnpinto Can you please confirm if any progress is made at this topic?
I heard Standing Instructions is rolled out, but I’m still kinda stuck without E-NACH and Mandates.
@Samadrita We are in process of building out E-NACH, which will allow for auto-deduction for SIPs. Same for ECS. We’re aiming this to be out in a month or two.
Regarding Auto-Pay, yes it’s live from v1.5.28 onwards.
You can set up auto-pay for bank transfers and debit cards currently (Some platforms for now), We’ll release it for UPI later on.
Do you have a rough idea when then e-nach support will be out ?