What if my bank is not providing UPI service for public issues? Can I use third party UPI ID or a third party bank account for making payment?
In case your
bank is not providing UPI services for public issues, you may make use of your
bank account for blocking of funds and depending upon the Phase (I, II or III)
in which the application is being made, submit the application with the
respective SCSB or intermediary for the purpose of blocking of funds.
Investors whose bank is not live on UPI as on the date of
this Circular, may use the other alternate channels available to them viz.
submission of application form with SCSB or using the facility of linked online
trading, demat and bank account (Channel I or II at Para 5.1 of Circular dated November
Will the existing non-UPI channels for making application in public issues will be available for retail investors after introduction of UPI?
Yes. In Phase I, all existing channels will be available for retail investors. From Phase II onwards, the option of submitting non-UPI application with intermediaries would be discontinued. Phase II onwards, investors submitting application forms ...
How do I select UPI as the payment option while applying for IPO?
The application form for an IPO, now also includes a field for entering your UPI ID as a payment mechanism. Further, you can get in touch with any of the Intermediary who shall be able to guide you on the process in detail. The existing UPI ID can be ...
What is UPI and VPA?
Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any ...
Process for Bank Modification
You can register maximum 5 banks for Pay In. Process is as below: To Add Bank: Through App: Login to 5paisa App >> Menu >> My Profile >> On top right Click on Modify >> Bank Details >> Add Bank and Upload bank proof for the same >> Select the Primary ...
How will I transfer the funds from bank A/c to trading A/c?
You can transfer funds through following ways: Method 1. Net Banking If you wish to transfer funds from your bank A/c to your 5paisa trading A/c, you need to have net banking facility to be activated. We have payment gateway available for list of 32 ...