StockBasket decoded

How to Set up an Auto-debit Mandate on StockBasket App3 min read

For a successful SIP order, you need to also make sure that you have set up a mandate. 

So What exactly is a Mandate: A mandate is an auto-debit facility which allows us to deduct the amount from your bank account for completing your SIP order.

Generally, your SIP mandate amount is greater than your SIP amount to ensure that your SIPs are executed flawlessly even though market prices keep fluctuating.

You need to follow the below steps to set up your mandate:

Step 1: Login to StockBasket app using your Client Id and trading password, now from the Home page go to My Account.

Step 2: Click on Mandates in My Account section.

Step 3: Click on Create New Mandate.

Step 3: Select your Bank account which you want to link for the mandate and enter the Mandate amount.

Step 4: Click on Download Mandate.

Step 5: A pdf file will be generated and downloaded on your mobile, take a print and sign the document, please ensure that the signature matches with your bank signature records to avoid rejection of the mandate.

Step 6: Take a picture of the document and upload the document in the Mandate section available in My Account.

After you upload the mandate it takes approximately 3-4 weeks to verify the mandate and link with your Bank account 

In case if you face any difficulty in the process you can contact us at 022-2222 7777

Or you can also email us at support@samco.in

 You can also watch our tutorial video on How to Set up an Auto-debit Mandate on StockBasket App by clicking here

Author

Write A Comment