I have four mutual funds SIPs and the money gets auto-debited on first of every month from my account. I changed jobs recently and now my salary gets credited on fifth of every month. What is the process of changing the date of debit? And, can I stop my auto-debit on these schemes and issue post-dated cheques instead?
—Naresh Gaur
The change of date for your SIPs can be done by submitting an SIP transaction slip requesting for the same. Every mutual fund company has such a common transaction slip, using which any such changes can be taken care of. And yes, most mutual funds also accept post-dated cheques to take care of SIP transactions. However, I do not quite see the advantage of issuing a set of post-dated cheques (which could be liable to be rejected for signature mismatch issues) over a direct debit bank mandate.
