Why should I use digiSIP?
- You can initiate SIP across fund houses through a single mandate
- Completely paperless set-up
- Minimal data input requirement. The system automatically captures most details from existing folios
- The turnaround time to start an SIP is just 7 days
- Set up multiple SIPs in one go
- There will be no restriction on SIP dates. You can set up SIPs as and when presented. Also, there is no limit on the number of SIPs
- No need to submit a cheque or do net banking for lumpsum transactions. Investors simply have to select e-mandate as payment option or quote the unique mandate registration number and submit transaction.
Can EUIN holders use digiSIP?
Entering only EUIN or sub-broker ARN will not work. You need an ARN.
I do not use my registered mobile number any more. Is there another option to generate an OTP?
No. The system will send the OTP to the registered mobile number. If the distributor wants the OTP to be sent to another number, then he/she needs to update the registered mobile number to the new number; digiSIP has no option to change the mobile number.
How to replace the existing registered mobile number with the new mobile number?
To change the registered mobile number, visit the nearest CAMS service centre, fill the form and submit. The new mobile number will then get registered to the distributor’s ARN.
In case of incorrect OTP OR the user’s inability to login, how many attempts can user have to resend OTP?
You can enter the OTP incorrectly up to three times. After that, the OTP link will become inactive for a period of 30 minutes. You can request for OTP again only after 30 minutes.
I have multiple mobile numbers and email IDs mapped to the AMC where I am empaneled. To which number and email ID will the OTP be sent?
If multiple mobile numbers and email IDs are mapped, a drop-down will appear where the distributor can select the mobile number and email ID to which the OTP needs to be sent.
I am not empaneled with the AMC displayed on the transaction screen. How do I proceed?
The distributor must empanel himself/herself with the AMC where he/she wishes to set up the SIP.
Can I register an SIP if the investor has never invested through me in the past?
You can set up the SIP by creating a new folio by entering all folio details and proceed to scheme details based on the flow and set up the SIP.
I have an investor who has never invested through me in any of the CAMS serviced funds. How would the investor authorise me to transact?
Select ‘No’ in the active relation question; enter the mobile number of the investor to generate link to initiate the transaction. CAMS will internally validate the mobile number entered by the distributor for accuracy and send the OTP. Once the investor confirms, create a new folio.
Can I start investing without the consent of the investor?
No, the investor must provide consent confirmation via the link sent as SMS or email before the distributor can start creating an SIP.
How can I check investor confirmation response status?
A grid appears once you have validated your clients. The system will display all PANs under ‘Pending’ status in the confirmation status column in the grid are yet to be confirmed by the investor. Those PANs that are confirmed in confirmation status column in the grid are displayed as ‘Initiate SIP’. The distributor needs to click on ‘Initiate SIP’ and enter the investor details to register the SIP.
Can I initiate the SIP even if the confirmation status is ‘Pending’?
The distributor can start the SIP registration only when the authorisation status changes from ‘Pending’ to ‘Initiate SIP’.
What do I need to do to ensure the first instalment trigger happens in 7 business days?
If the distributor has chosen an existing OTM or has set up a new e-mandate, he/she will only need to make sure that the investor authorises the transaction immediately. Once that is done, CAMS will ensure that the SIP is registered and first instalment is triggered on the chosen SIP date.
If the mode of payment is through net-banking, the distributor needs to ensure that the investor registers the AMC as a biller using the SRN number sent to the investor subsequently. However, if the AMC is not registered as a biller within 24 hours of setting up of the SIP, CAMS cannot process the first SIP instalment trigger in 7 business days and the SIP will be ceased.
What does ‘View SIP’ on authorisation status show?
Once the distributor’s investor confirms, CAMS initiates the registration of the SIP and the authorisation status in the grid changes from ‘Approved’ to ‘View SIP’. This link displays the registration status (Success/Failure). The distributor can click on this link and see the complete details of the transaction along with the transaction status.
How can I top up an existing SIP?
A top-up provision is currently not available for an existing SIP in digiSIP. The distributor must register a new SIP with the same SIP details as that of the existing SIP.
How to cancel a registered SIP?
You can cancel a SIP by using the request form available on www.camsonline.com. Online cancellation facility is not available on digiSIP.
