We allow you to pay for your investments using two methods:
· NETBANKING: as long as you have an internet banking account and you have activated this by sending us your bank details on the bank mandate form.
· AUTO-PAY or FLEXI-SIP: we use your bank mandate to automatically move the money from your account to the Mutual Fund Company under your instructions.
A handful of foreign banks (such as Citibank or HSBC) do not use Netbanking for payments. They use Debit Card payments instead of Netbanking payments (and charge us ~2% of your investment amount to complete the transaction). You will agree that the economics of this just don’t work for us. If you're a customer of one of these banks, you can still set up a Clearfunds account, but you can only purchase funds using our AUTO PAY feature, or set up a SIP. Send us your signed bank mandate to activate this.
For a list of banks we work with, see I can't register with my bank account? What banks do you work with?