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    Mfu Can & Payezz

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    Asif Iqbal
    MF Utility (MFU) is an initiative by the mutual fund industry that allows investors to transact in multiple schemes across different funds using a single form and payment. Through MFU, investors are provided a Common Account Number (CAN) to transact in various schemes using a consolidated payment, reducing duplicative efforts. ePayEezz is a facility offered by MFU that allows investors to register a one-time electronic payment instruction to their bank, authorizing MFU to debit the account for future subscription transactions across different funds.

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    Mfu Can & Payezz

    Uploaded by

    Asif Iqbal
    59 views2 pages
    MF Utility (MFU) is an initiative by the mutual fund industry that allows investors to transact in multiple schemes across different funds using a single form and payment. Through MFU, investors are provided a Common Account Number (CAN) to transact in various schemes using a consolidated payment, reducing duplicative efforts. ePayEezz is a facility offered by MFU that allows investors to register a one-time electronic payment instruction to their bank, authorizing MFU to debit the account for future subscription transactions across different funds.

    Original Description:

    MFU Introduction

    Original Title

    MFU CAN & PAYEZZ

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    MF Utility (MFU) is an initiative by the mutual fund industry that allows investors to transact in multiple schemes across different funds using a single form and payment. Through MFU, investors are provided a Common Account Number (CAN) to transact in various schemes using a consolidated payment, reducing duplicative efforts. ePayEezz is a facility offered by MFU that allows investors to register a one-time electronic payment instruction to their bank, authorizing MFU to debit the account for future subscription transactions across different funds.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    59 views2 pages

    Mfu Can & Payezz

    Uploaded by

    Asif Iqbal
    MF Utility (MFU) is an initiative by the mutual fund industry that allows investors to transact in multiple schemes across different funds using a single form and payment. Through MFU, investors are provided a Common Account Number (CAN) to transact in various schemes using a consolidated payment, reducing duplicative efforts. ePayEezz is a facility offered by MFU that allows investors to register a one-time electronic payment instruction to their bank, authorizing MFU to debit the account for future subscription transactions across different funds.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    MF Utility

    MF Utility (MFU) is an innovative “Shared Services” initiative by the Mutual Fund industry under the aegis of Association of
    Mutual Funds in India (AMFI), which acts as a “Transaction Aggregation Portal” through which a Mutual Fund customer is
    enabled to transact in multiple schemes across Mutual Funds using a single form/payment. MF Utility (MFU) offers the
    convenience of online access to submit transactions.

    MFU facilitates the investors with a Common Account Number (CAN) which enables them to transact in multiple schemes of
    various Mutual Funds participating in MFU through a single transaction and consolidated payment. This reduces the duplicity
    of efforts for the investors

    1 WHAT IS A CAN?
    CAN (Common Account Number) is an industry level Folio allotted by MF Utility (MFU) to an investor

    Using a CAN, the investors will be able to submit single request for multiple transactions in various schemes across Mutual
    Funds using a single form/payment.

    2 WHAT IS EPAYEEZZ?
    ePayEezz  is a facility offered by MF Utility (“MFU”) by which an investor can register PayEezz  electronically through
    www.mfuonline.com (“MFU portal”). The investor provides a one-time instruction by electronic mode to their CAN
    registered bank thereby authorizing MFU to debit the said Bank account for future subscription transactions.

    3 WHAT IS THE BENEFIT OF REGISTERING FOR EPAYEEZZ?


    ePayEezz  is a  One Time One Mandate from MFU. The investor needs to give the mandate one time, rather than
    submitting in every fund house where they want to invest. As ePayEezz  is registered with MFU, the same mandate can be
    used to make payments for Lump Sum/SIP/ Schedule Transaction / SPP subscriptions across the industry.

    4 HOW TO REGISTER FOR EPAYEEZZ?


    Distributors/RIAs can initiate registration for  ePayEezz for their investors. Once the request is submitted, MFU will notify the
    investor via email & SMS who would be required to click on the link which will then take them forward to complete the
    registration via payment aggregator / NPCI website, then the investor would be required to approve the ePayezz .

    5 WHAT ARE THE VARIOUS TRANSACTIONS THAT I CAN


    USE EPAYEEZZ FOR PAYMENT?
    An ePayEezz  once registered can be used for making payments against any subscription such as Lump Sum purchase,
    Schedule Transaction / SPP, SIP, across any fund house on the MFU Portal.

    6 WHAT IS THE MAXIMUM AMOUNT LIMIT THAT CAN BE SET


    UNDER EPAYEEZZ?
    Current maximum permissible limit is Rs. 10,00,000/- (Rs. 10 Lakh) per mandate.

    7 EXECUTING THE TRANSACTIONS USING EPAYEZZ


    The Distributor while initiating a transaction, is required to choose the payment mode as Payezz, The confirmation of the
    transaction would be sent to the investor via Email.
    The investor would be required to approve the order placed by the distributor to complete the transaction.

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