Distributor / RIA FAQs

MF Utility (MFU) provides a whole lot of benefits to the Distributors / RIAs like:

• Multiple methods of transaction submission
• 24x7 transaction submission convenience from their own office
• Single point for Time-stamping of transactions
• Single point for document submission
• Paperless transaction facility called TransactEezz
• Provide login facility for their clients
• Single point for requesting information
• Eliminate duplication of processes/documentation
• Consolidated view of customer investments across the industry
• Consolidated MIS across the industry

MFU is a free of cost facility for the Distributors / RIAs signing-up with MFU.

Distributor / RIA may sign-up online by submitting the data and images online or physically by submitting duly filled-in and signed form to MFU Office. Click here to know more about the options. Upon successful registration, MFUI will provide login access to the Distributor / RIA.

Distributors / RIAs who do not intend to submit the transactions on behalf of their investors through MFU, but only wish to have access to the processed information may only require login access to the system through internet.

Distributors / RIAs who wish to submit the transactions along with scanning of the forms of their customers will need to have the following infrastructure:-

• A Desktop / Laptop
• Internet access
• Scanner
• Printer

MF Utility (MFU) will not migrate the existing investments of the investors. However, upon creation of a Common Account Number (CAN), MFU will map the existing folios of the investor/s across Mutual Funds, to the CAN, based on the PAN and the holding pattern.

Transactions submitted through MF Utility (MFU) are forwarded to the respective AMC or its RTA for processing. There is no change in applicability of brokerage or its processing.

MF Utility will facilitate Distributors / RIAs already having “Online Transaction Submission” capabilities to integrate their Portal to MFU Portal. Distributors / RIAs seeking such facility may contact MF Utilities India Pvt Ltd on the details provided on the Contact Page

MF Utility (MFU) will provide Demo videos and User Manuals online, the access to which will be available to Distributors / RIAs upon registration with MFU.

Through MFU login, the Distributor / RIA can search the CAN by providing the customer’s PAN in the CAN search options available in the MFU transaction screens.

Empanelment has to be completed separately with respective AMCs. MFU does not facilitate the same.

Yes you can fill up a CAN form on behalf of your client. You can download the form from our website www.mfuindia.com under the forms section and fill it up. Please Click Here to download the CAN Registration Form. For your Individual clients, you may also use the eCAN option, which enables you to submit the CAN Registration request online. Click here to know more about the eCAN Options.

A Distributor / RIA may write/mention the ARN / RIA code in the CAN Registration Form. However, MFU does not tag the ARN / RIA code.

Generation of account statements through MFU Portal will be available at a later phase. Once made available, the Distributors will be able to generate account statements on their own for transactions routed through their ARN Code. If a full account statement of the customer is required, the Distributor / RIA will be facilitated to request for the same and the statement will be emailed to the customers email ID registered under the CAN.

Distributors / RIAs can create transactions on behalf of their clients through the TransactEezz menu available through their login access. Upon submission by the Distributor / RIA, MFU will seek an electronic approval from the client by way of an SMS and/or email. The transaction is time-stamped upon approval from the client.

A Distributor / RIA can initiate transactions like Purchase, Redemption, Switch, SIP Registration (If PayEezz is already registered), STP Registration and SWP Registration.

A Distributor / RIA can create up to 20 transactions for a single transaction type.

Investors will have multiple choices for making the payments for purchase transactions. The choice of payment should be chosen at the time of transaction creation. The available options of payment are Net Banking, PayEezz, UPI, NEFT and RTGS.

Net Banking: For Net Banking Payments, the investors will be redirected to their Net Banking site for payment. Click here for the list of the Banks offering Net Banking facility.

PayEezz: Payments through PayEezz will be handled by MFU based on the PayEezz Reference Number (PRN) chosen for payment.

For more details on PayEezz, please Click Here.

NEFT/ RTGS: Investor need to add the beneficiary details of KOTAK BANK and YES BANK for making NEFT / RTGS payments. For more details on NEFT / RTGS Click Here.

UPI: Investors need to enter their Virtual Payment Address (VPA) i.e UPI ID (eg - xyz@upi) and click on make payment, Investors you will receive a collect request on their UPI enabled app. Authorize and complete the payment. The upper limit per UPI transaction is Rs.2 Lakh per account per day and may vary from Bank to Bank and PSP (UPI App) to PSP.

There is no separate registration required for investors or Distributors / RIAs for using the TransactEezz facility. All signed up Distributors / RIAs with a login access can utilise this facility for the clients who have opened a CAN.

Yes. The Distributors / RIAs can provide login access to their clients who have a CAN.

Not necessary. When the investor logs in using the Login provided by the Distributor, the ARN code of the Distributor who has provided the login access to the client will automatically be hard-coded in the transaction.

Yes. A CAN holder can request for login IDs through different Distributors / RIAs. As long as the investor logs in using the login ID provided by the specific Distributor, the ARN code of the specific distributor will be hard-coded in the transactions done by the investor using the login.

Create and Retain Transaction (CART) is a facility where frequently ordered transactions can be created and retained as a template to be executed later whenever desired by a SINGLE CLICK. Every such CaRT template can be identified by an exclusive CaRT Name.

• If some funds are expected to be available for investment on a future date, a purchase transaction can be added to the CaRT to be placed later using this facility.
• If there is a future cash out flow, a redemption transaction can be added to the CaRT to be placed later using this facility.

Please Click Here for more details on CaRT.

Create and Schedule Transaction (CaST) is a facility where a Distributor / RIA can create and schedule a transaction to be executed on a defined future date to better manage future cash flow situations for their clients. For e.g.

• If some funds are expected by the client to be available for investment on a future date, a purchase transaction can be scheduled to be executed on an appropriate date to utilise those funds using this facility.
• If there is a planned cash out flow (payments like EMI, rent, premium etc.) by a client on a future date, a redemption transaction can be scheduled to be executed on an appropriate date.

Please Click Here for more details on CaST.

CaSTplus is an enhanced version of CaST where a transaction can be created and scheduled to be executed repeatedly on defined future dates/frequency.

No transaction data will be stored in MFU for beyond a certain period. Besides, MFU infrastructure has multi-layered security features with state-of-the-art security appliances which are thoroughly tested through independent security testing agencies. In addition, MFU will only act as a “Transaction Aggregation Portal” which will accept and forward the transactions to the respective AMC/RTA.

As per SEBI Circular SEBI/HO/IMD/IMD-I DOF5/P/CIR/2021/634 dated October 4, 2021 and based on AMFI Best Practice Guidelines issued on 28th March 2022 outlining the standardization of process for validation of Contact details i.e., Email Id and Mobile Number with effect from 1st May 2022 needs to be done.

As per SEBI & AMFI directive, contact details need to be validated and verified for each folio level. At MFU this Validation/Verification and declaration can be done at CAN level which will be applicable for all folios mapped and any new folio which is getting created.

Yes, it will continue even the Validation/Verification and declaration is not done. However, AMFI has recommended to complete this activity for such folios progressively.

Yes, this needs to be done separately.

This is applicable to the email id and mobile number of Individuals including minor and Sole-Proprietor.

2In case of NRIs having overseas mobile number, they need to provide declaration w.r.t. mobile number. However, Email id needs to be Verified/Validated and declaration to be submitted.

Once the change is updated in CAN, the previous validation/verification and declaration stands reset. The process of validation/verification and declaration will have to be re-done.

To know status, check the CAN history from the CAN Tracker in your Login.

Yes, you can register Guardian (Parent / Legal) Bank account as the only account OR in addition to the bank account of Minor or Joint Account of the Minor with the Guardian (Parent or legal) in Minor CAN.

Please refer below table for better understanding:

Yes, you can transfer funds from Guardian (Parent / Legal) bank account in minor CAN. Please refer below table for better understanding:

No. Basis SEBI Circular, in case of outflow (redemption, SRP, SWP) from Minor CAN, Minor bank account or Joint account of the minor with the Guardian (parent or legal) as registered in CAN should be opted else order is liable to be rejected at RTA. MFU will NOT be responsible for such rejection.