It is a facility provided by MFU for investors to swap their existing PayEezz with another active PayEezz mandate.

Yes. This facility has been made available on the MFU Portal for both investors having online access and for the Distributors / RIAs to initiate on behalf of their customers.

Pursuant to the Supreme Court judgement, NPCI has discontinued the Aadhaar based eNACH facility. NPCI circular on the subject also states that such Aadhaar based ePayEezz registered on or after 25th September, 2018 shall not be honoured by the member banks after 15th February 2019. So, such ePayEezz mandates will cease to be valid for presentment after the said date.

The existing SIPs registered via impacted ePayEezz would continue until Feb 5th. Thereafter no instalments will be triggered. However, if the ePayEezz is swapped before that into another mandate, then the existing SIPs shall continue uninterrupted. The swap should be done atleast eight calendar days before the instalment date.

The investor needs to login to his/her Dashboard and click the option “symbol” provided against each GORN of the eligible SIP registration in the Systematic Order Book.

There is no defined last date as it is a continuous facility being offered to investors who want to swap their mandates. However, to ensure that the existing SIPs that are linked to such impacted ePayEezz continue uninterrupted, investors should do the swap before Feb 5th.

Yes. After the investor completes his/her SwapPayEezz, a notification email/SMS would be triggered to the investor as a confirmation.

SwapPayEezz can be used to swap Physical PayEezz or ePayEezz mandate for an active SIP registered on or after 1st October 2017.

No, SIP does not offer the flexibility to change the SIP amount or frequency. Instead investors can examine the CaST product offered by MFU.

The existing SIPs registered via impacted ePayEezz would continue until Feb 5th. Thereafter no instalments will be triggered. So it is necessary that the swap should be done atleast eight calendar days before the instalment date.