AutoPay
One Time Mandates
Add / Setup AutoPay
My AutoPay is Rejected
AutoPay
AutoPay
AutoPay is a one-time registration process where you authorize Colour Funds to automate your payments on the platform.
Your AutoPay is sent for verification and registration with your Bank. Post approval from your bank, you can start making investments via AutoPay. For SIPs, AutoPay allows seamless and effortless investments by automating debit of your SIP amount as per the frequency set by you.
We highly recommend setting up AutoPay for your Investments.
In the event that your SIP date falls on a non-trading day, public holiday or a weekend, it will be triggered automatically on the next business day.
Modification / Changes made to SIP schedule & amount usually take up to 7 business days to reflect.
One Time Mandates
One Time Mandates (AutoPay)
AutoPay is a one-time registration process of setting a payment instruction with your verified bank account, where you authorize Colour Funds to automate your payments/investments.
You can make Lumpsum investments without setting up the AutoPay.
However for SIP investments, we highly recommend setting up AutoPay. It allows seamless and effortless investments by automating debit of your investment amount as per the frequency set by you.
You can set up an AutoPay for any verified bank account on Colour Funds.
Your AutoPay needs to be verified and registered with your bank. For E-Nach / digital mandates, it takes 3 to 7 days for registration, whereas for paper mandates it can take upto 15 to 45 days subject to your bank's approval. Your SIPs will be automated post approval.
Add / Setup AutoPay
Add / Setup AutoPay
You can setup your One Time Mandate (AutoPay) under the Investment Profiles section, Select Applicant photo icon, Choose Auto Pay(Create Autopay Mandate) section and follow this process:
- Click on Create Autopay Mandate
- Choose E-NACH / Digital Mandate and Set Transaction Limit for your Mandate.
Your AutoPay needs to be verified and registered with your bank. For E-Nach / digital mandates, it takes 3 to 7 days for registration, whereas for paper mandates it can take upto 15 to 45 days subject to your bank's approval. We will keep you updated via Email / SMS about the status of your AutoPay.
The Maximum Transaction Amount is the limit that you have authorized Colour Funds to debit from your bank account per day. On any day, there will never be a debit of more than your total scheduled Investment Amount.
Since we offer Flexible SIP where you can change the SIP amount and date, setting a higher limit enables us to accommodate multiple SIPs on the same day.
You can setup a maximum of 5 AutoPays, each linked to a verified Bank Account on Colour Funds.
My AutoPay is Rejected
My AutoPay got rejected. What next?
You will receive communication via SMS / Email with a rejection reason in case your Bank rejects the AutoPay. Kindly re-submit the required details on the platform.