Investment
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Frequently Asked
Questions
Online One Time Mandate Registration is a facility for registering your bank through Invest Online platform to make payment electronically for all future purchase transactions.
The list of banks available for registering online One Time Mandate is similar to the list of banks available for ISIP registration through our website.You may refer link https://www.quantumamc.com/frequently-asked-question/financial-transactions/22 for list of online SIP banks.
Investor can select the payment option as OTM / NACH while making the purchase through Invest online. For Email, Whatsapp, Hike and SMS transactions etc. the payment mode needs to be selected as Online One Time Mandate/NACH. Investor are requested to authorize the payments in their bank bill pay section if they opted for view and pay option while registering.
• Login with your User Id/PAN and password/OTP
• Go to Manage Account> OTM
• Click on the ‘Cancel One Time Mandate Request’ option and click on ‘OK’
Offline NACH/OTM cancellation - The turnaround time for One Time Mandate cancellation is 15 calendar days.
Online NACH/OTM cancellation - The OTM gets cancelled on real time basis.
Online NACH/OTM cancellation - The OTM gets cancelled on real time basis.
• Login with your User Id/PAN and password/OTP
• Go to Manage Account > OTM
• Select the bank name (TThe other bank details and Investor’s name will auto populate)
• Click on the ‘Submit’ option and confirm the OTM registration by clicking on ‘Confirm’ option
• A registration message will pop-up on screen. Also an email with the URN and an SMS will be triggered
• Investor needs to register this URN with bank by entering the same under the Bill Pay section (Investor needs to be suggested to select the Auto Pay option and not Manual pay)
• Go to Manage Account > OTM
• Select the bank name (TThe other bank details and Investor’s name will auto populate)
• Click on the ‘Submit’ option and confirm the OTM registration by clicking on ‘Confirm’ option
• A registration message will pop-up on screen. Also an email with the URN and an SMS will be triggered
• Investor needs to register this URN with bank by entering the same under the Bill Pay section (Investor needs to be suggested to select the Auto Pay option and not Manual pay)
The turnaround time for One Time Mandate registration is 15 calendar days.
The URN for One Time Mandate is valid upto 7 calendar days.
An investor will be able to register only those banks for One Time Mandate facility incase of fulfillment of two conditions –
(1) The bank should be registered in the folio
(2) It should be also available in the bank’s listed for One Time Mandate registration as mentioned in point no 4.
(1) The bank should be registered in the folio
(2) It should be also available in the bank’s listed for One Time Mandate registration as mentioned in point no 4.
Only one bank can be registered for One Time Mandate per folio.
You will be unable to register for One Time Mandate through online mode if you have already registered one of your bank for OTM through offline mode. There will be only one radio button selection option for Online One Time Mandate & Offline One Time Mandate in Invest Online section.
Yes. An investor can use the One Time Mandate option for future investment transactions through Email, WhatsApp & SMS (apart from the existing option given in Invest Online).
No. The investor will have to register the URN received for ISIP registration in the bank website apart from the URN received for Online OTM. There will be two different URN numbers generated for each request separately.
Yes. This facility is available for demat investors also.
Investor will receive an email and SMS alert for below One Time Mandate transactions –
• Post registration of One Time Mandate through Invest online account
• Post cancellation of One Time Mandate through Invest online account
• Post registration of One Time Mandate in K-BOLT (Offline mode)
• Post cancellation of One Time Mandate in K-BOLT (Offline mode)
• Investor will also receive an SMS Alert 2 days before the URN expiry date.
• Post registration of One Time Mandate through Invest online account
• Post cancellation of One Time Mandate through Invest online account
• Post registration of One Time Mandate in K-BOLT (Offline mode)
• Post cancellation of One Time Mandate in K-BOLT (Offline mode)
• Investor will also receive an SMS Alert 2 days before the URN expiry date.
NACH (National Automated Clearing House) is a funds clearing platform set up by NPCI (National Payments Corporation of India) similar to the existing ECS of RBI. NACH platform will have national footprint which will cover 82,000+ bank branches.
NACH is a much superior, robust and scalable platform for the following reasons:
• The prevalent Electronic Clearing Service (ECS) in India is available at around 89 centers in the country. While it is operated by the RBI at 15 centers, it is operated by commercial banks at the remaining centers.
• The ECS model lacks a standardized operating model, uses manual processes and has other inherent challenges such as inconsistent timelines around post transactional query management and servicing.
• The new centralized NACH solution is expected to consolidate the current multiple ECS systems and provide a framework for removal of the local barriers / inhibitors.
• The platform will be robust, secure and scalable with both transaction and file based transaction processing capabilities.
NACH is a much superior, robust and scalable platform for the following reasons:
• The prevalent Electronic Clearing Service (ECS) in India is available at around 89 centers in the country. While it is operated by the RBI at 15 centers, it is operated by commercial banks at the remaining centers.
• The ECS model lacks a standardized operating model, uses manual processes and has other inherent challenges such as inconsistent timelines around post transactional query management and servicing.
• The new centralized NACH solution is expected to consolidate the current multiple ECS systems and provide a framework for removal of the local barriers / inhibitors.
• The platform will be robust, secure and scalable with both transaction and file based transaction processing capabilities.
National Payments Corporation of India (NPCI) was set up by Indian Banks Association under a mandate from the Reserve Bank of India in 2008. It is the umbrella organization for all retail payment systems. NCPI would provide robust payment solutions to banks and financial institutions across India.
• OTM, or ''One Time Mandate'' is a one-time registration process that will allow you to invest with us in a simple, convenient and paperless manner.
• It is just an authorization to your bankers to debit your account up to a certain limit on the basis of your instructions given in the form, whenever you wish to transact with any of Quantum Mutual Fund schemes.
• Quantum Mutual Fund and/or our registrar (KFin Technologies Limited) shall forward the debit requests to the bank (through billdesk) based on the transaction request from the investor for SIP/ Lump Sum purchases. The debits will happen through National Automated Clearing House (NACH).
• It is just an authorization to your bankers to debit your account up to a certain limit on the basis of your instructions given in the form, whenever you wish to transact with any of Quantum Mutual Fund schemes.
• Quantum Mutual Fund and/or our registrar (KFin Technologies Limited) shall forward the debit requests to the bank (through billdesk) based on the transaction request from the investor for SIP/ Lump Sum purchases. The debits will happen through National Automated Clearing House (NACH).
• Reduction in turnaround time for registration. The time for registering a One Time Mandate is 15 working days against 30 working days as taken for normal ECS registration.
• Due to the centralized and automated nature of the process, the probability of errors is reduced significantly.
• Since there are no paper-flows to the bank branches, there will be no more ‘ECS mandate not found’ related errors
• You can also avoid any internet banking related issues for payment
• Investors need not submit a physical cheque against each of their purchase transaction. The amount will automatically get debited from the investor’s bank registered with NPCI.
• Reduce mandate registration timelines by –
• Eliminating physical movement of mandate forms to destination bank branch and work on scanned images
• Registration online (through Bank Portal)
• Positive confirmation of Registration as compared to today where 100% confirmation is not received across participating banks
• Due to the centralized and automated nature of the process, the probability of errors is reduced significantly.
• Since there are no paper-flows to the bank branches, there will be no more ‘ECS mandate not found’ related errors
• You can also avoid any internet banking related issues for payment
• Investors need not submit a physical cheque against each of their purchase transaction. The amount will automatically get debited from the investor’s bank registered with NPCI.
• Reduce mandate registration timelines by –
• Eliminating physical movement of mandate forms to destination bank branch and work on scanned images
• Registration online (through Bank Portal)
• Positive confirmation of Registration as compared to today where 100% confirmation is not received across participating banks
| NACH | ECS |
| A robust Mandate Management System, that will include a standardized mandate format and a defined workflow for mandate verification. | Mandate verification is done based on physicals, resulting in verification issues and delayed timelines. |
| Unique mandate registration reference no will be available, which will allow for better tracking. | No such concept of a unique mandate registration reference number. |
| Provision to capture destination bank''s unique mandate registration in the transaction file resulting in lesser rejects. | Higher number of rejects observed on account of mandate related issues. |
| Same day presentation and settlement, including returns processing. | Presentation and settlement is spread over 3-4 day period. |
| Well defined Dispute Management System; electronic platform to raise and resolve issues. Oversight by the NPCI. | Dispute management is left to the discretion of the Destination Bank and Sponsor Bank. |
Only existing investors having a folio can avail for registration of NACH facility.
• Registration is just a onetime process.
• All you need to do is simply fill and submit ‘OTM form’ duly signed after reading the “Terms and Conditions” of this facility (The form can be downloaded from the section ‘Download > KYC and Other General Forms’ of our website.).
• The signatures on the form should be as per your bank records because the form will be sent to your bank branch.
Note :
• All fields in the form are mandatory to be filled
• Core Banking account number to be given
• Upper limit of the Amount that can be debited from the account against is per transaction based.
• Contact details of the investor - Same will be utilized by the bank for mandate registration only and will not be captured in Bank Account or contact details of AMC.
• Investor needs to have his Email ID & contact number registered in his folio for availing the facility of transactions through Email ID & fax
• Period for which the mandate need to be registered (The “From” date is mandatory & if investor does not want to specify the end date, he can tick on the option “Until Cancelled” option)
• Signatures and Names of all the account holders as per mode of holding in the bank.
• All you need to do is simply fill and submit ‘OTM form’ duly signed after reading the “Terms and Conditions” of this facility (The form can be downloaded from the section ‘Download > KYC and Other General Forms’ of our website.).
• The signatures on the form should be as per your bank records because the form will be sent to your bank branch.
Note :
• All fields in the form are mandatory to be filled
• Core Banking account number to be given
• Upper limit of the Amount that can be debited from the account against is per transaction based.
• Contact details of the investor - Same will be utilized by the bank for mandate registration only and will not be captured in Bank Account or contact details of AMC.
• Investor needs to have his Email ID & contact number registered in his folio for availing the facility of transactions through Email ID & fax
• Period for which the mandate need to be registered (The “From” date is mandatory & if investor does not want to specify the end date, he can tick on the option “Until Cancelled” option)
• Signatures and Names of all the account holders as per mode of holding in the bank.
NACH will cover all core banking platform enabled bank branches and will not be restricted to only ECS locations as per current ECS model.
For Lumpsum Purchase:
• Investor needs to submit the One Time Mandate NACH form through the AMC’s aggregator as a standalone form for registration of Bank details. Please click here to download the One Time Mandate NACH Form.
• Post successful registration, an investor can avail for additional purchase, SIP transactions and other modes of purchase transactions which will be introduced shortly viz SMS and transactions through phone etc.
• One Time Mandate NACH form can also be registered to avail of email/fax transactions that we have enabled for our investors. Presently investors need to transfer the funds through NEFT/RTGS mode before sending email/fax transaction. By registering One Time Mandate NACH form which is a one-time process, investor can then just submit an email/fax transaction conveniently and avoid the fund transfer that needs to be effected for each and every transaction.
SIP Registration:
• In case you wish to register for SIP, you need to submit the SIP registration form along with the One Time Mandate NACH form to ensure you avail the advantages of NACH in case your bank is activated for NACH.
• Note: In case your registered bank, lists amongst the NACH activated list of banks, then the registration of SIP will be done within 15 working days, else it will be done in 30 working days as per existing process.
For Lumpsum Purchase:
• Investor needs to submit the One Time Mandate NACH form through the AMC’s aggregator as a standalone form for registration of Bank details. Please click here to download the One Time Mandate NACH Form.
• Post successful registration, an investor can avail for additional purchase, SIP transactions and other modes of purchase transactions which will be introduced shortly viz SMS and transactions through phone etc.
• One Time Mandate NACH form can also be registered to avail of email/fax transactions that we have enabled for our investors. Presently investors need to transfer the funds through NEFT/RTGS mode before sending email/fax transaction. By registering One Time Mandate NACH form which is a one-time process, investor can then just submit an email/fax transaction conveniently and avoid the fund transfer that needs to be effected for each and every transaction.
SIP Registration:
• In case you wish to register for SIP, you need to submit the SIP registration form along with the One Time Mandate NACH form to ensure you avail the advantages of NACH in case your bank is activated for NACH.
• Note: In case your registered bank, lists amongst the NACH activated list of banks, then the registration of SIP will be done within 15 working days, else it will be done in 30 working days as per existing process.
• The investor''s account will get debited within 2-3 business days from the transaction date. (Units will be allotted as per the applicable NAV as per SEBI guidelines.)
The list of banks activated for NACH system keep changing on regular intervals with introduction of new banks.
To view the updated list of banks, we request you to Click here
Existing Investors need not worry about ongoing SIPs. The existing mandates will continue to be valid the present SIP cycle. No changes will be made to your ongoing SIPs.
The per transaction upper limit is as mentioned in the OTM form. The limit in the OTM NACH form is the per transaction limit through any mode.
Yes. You can modify the bank details registered for NACH by filling the entire form and ticking the option as ''Modify''. Also the investor can cancel the registration NACH registration by filling the entire form and ticking the option ''Cancel''.
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