Money has been deducted from my account but no units have been allotted yet?
Mutual funds follow a T+2 days settlement cycle. For AutoPay orders, your order first gets placed with BSE Star on T. On T+1, the order is picked up by the payment system. On T+2, the payment is deducted from your account. On T+3, the units are allocated by the AMC. On T+4, the information is updated on BSE Star. And by T+5, the update reflects on the Glide Invest App. Netbanking and UPI payments are the fastest, since the payment has the potential to reach the AMC on the same day, provided the payment is made prior to the cut-off time.
Will Glide Invest have access to my bank account?
No, we do not have any access to your bank account. We are just the links between your bank account and the mutual fund house. Please note that we use BSE for reporting the transactions to the AMCs. When you purchase units of mutual funds, we ...
What are the cut-off times for transactions?
We have partnered with BSE Star for transacting in mutual funds. All online transactions sent to BSE Star are routed through the bank accounts of the Indian Clearing Corporation Limited (ICCL), from where they are routed to the respective bank ...
How do payments via AutoPay work? When will my money get debited from my bank account?
AutoPay, as the name suggests, is the payment method we use once your mandate is approved, to facilitate the transfer of funds from your bank account to the mutual fund company. By selecting the AutoPay option on the Glide Invest app, your money will ...
Why do you need my bank account details?
As per regulation from SEBI, we need to verify that the bank account details submitted by you belong to you. Further this bank account will be used to deduct money for investments across Mutual Fund houses. When you sell a mutual fund, money is ...
How can I trust you not to misuse my mandate, bank account and other information?
Your bank mandate is a detailed and binding legal document which authorises us to do tasks only as per your instructions. We cannot do anything else outside of your authorised instructions nor will your bank allow for any unauthorised transaction to ...