What is the difference between InstaUPI and UPI?

Differences InstaUPI UPI
Payment TAT *T day
Eligible payment mode for “SAME DAY NAV”		 *T+1
Payment method Complete the payment externally using a Payment Service Provider (PSP) App post order approval MFU system redirects the user to finalize the payment after order approval.
VPA ID For CAN-based transaction – VPA ID is MFSYES‹‹CAN››@yesbankltd
For Folio-based transaction - VPA ID is MFSYES‹‹PAN››@yesbankltd		 Enter UPI ID (eg - xyz@upi) and click on make payment. You will receive a collect request on your UPI enabled app. Authorize and complete the payment.

*T=Date of application based on cut-off time

IMP

  • The fund transfer should be initiated at least 60 minutes before the respective cut off time of the transacted scheme(s), as the case may be to be assured of credit into respective Mutual Fund Collection Account before the cut off time.
  • MFU will not be liable for any delay in transferring the amount by aggregator to AMC if received within 60 minutes from the respective cut-off time.
  • The Credit time displayed in MFU system is the fund transfer initiation time from PA to AMC account. The actual time of credit to the respective Mutual Fund Collection Accounts will be considered for NAV Applicability.
  • Funds should be transferred only from the CAN registered Source Bank Account selected while placing order else money will be refunded.
Who can avail InstaUPI payment method?

Individual Investors, Sole Proprietorship and Minors can transact using InstaUPI payment mode. InstaUPI is not available for HUF & Non-Individuals.

What is the upper limit for InstaUPI?

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

What is the refund TAT in case of failed validation?

The refund TAT for validation failed payments is T+1 business day(s) where T refers to the payment initiation date.

Is InstaUPI available for physical transactions?

No. InstaUPI is not available for Physical Transactions. We shall arrive at a feasible solution in phased manner.

Can I transfer money via InstaUPI before placing order?

No. Fund transfer shall be initiated only after placing a valid order in MFU system. In case funds are received without any underlying APPROVED order, the money will be refunded back to the source bank account. In case of Joint holding CAN upon order creation, money will be transferred by PA to AMC Account once approved by any one holder/s without waiting for approval from remaining Holder(s). In such scenario, if joint holder fails to approve the order within validity period of the transaction link (24hrs) then refund will be initiated by Fund House to the source account as per the AMC turnaround time.

Till what time can the fund transfer be initiated?

Funds should be transferred within 24 hours from order APPROVAL time, else such orders will be marked as FAILED for “Payment Not Done” reason. This will be applicable for all inflow orders including NFO transactions.

With a view to improve performance and enhance the high availability of MFU System, it has been decided that transactions older than the previous Financial Year i.e., transaction data prior to 1st April 2022 will be archived on 18th April 2023. * * * “If you have any dispute against a listed company and or its Registrar and Share Transfer Agent (RTA) on delay or default in processing your request, as per SEBI circular dated 30.05.2022, you can file for arbitration with Stock Exchange.” For more details, please see the web links of the stock exchanges: BSE - http://tiny.cc/m1l2vz NSE – http://tiny.cc/s1l2vz * * * Please ensure to validate your Nomination Details registered under CAN. Click here to complete the validation if not already done. * * * Please ensure to verify your Contact Details registered under CAN. Click here to complete the verification if not already done. * * * Check out the Videos about MFU and the features offered. * * * Explore the new and improved Schedule Transactions feature using which you can register a Scheduled Purchase Plan (SPP), Scheduled Redemption Plan (SRP) and Scheduled Switch Plan (SSP) * * * Download the MFU Mobile App Distributor Mobile App goMF available for Android and IoS * * * Use the Connect menu on the top menu bar to lodge a Complaint / Query / Feedback. * * * MPIN / Touch ID based authentication is now enabled on the goMF app. Please update the App to start using this feature.