Third Party payment to AMC for the Mutual Fund

POSTED BY RAJESH PAI ON November 12, 2010 5:34 pm COMMENTS (2)

Hi

There is  notice from some of the AMC’s regarding the Thirdpary payment is not accepted for the new SIP investment after november 15th 2010 as per new rule.

Since i am investing thorugh fundsindia.com ,will this affect my investment though fundsindia.com

 

2 replies on this article “Third Party payment to AMC for the Mutual Fund”

  1. Hiral says:

    I think as long as the beneficiary is the primary Mf-folio holder it is fine.

    Above notification comes in to picture when payee is not primary Mf-folio holder…
    simple example (as per my understanding); Brother2 can’t deposite in name of Brother1’s MF-folio.

    correct if my understanding is wrong.

  2. FundsIndia.com is just a broker for mutual funds. You’re transacting to AMC via this broker. So, it’s your money and not of fundindia. There is no issue of 3rd party cheque here.

    Hope it will help you

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