DSP BlackRock Mutual Fund (DSPBRMF) has now launched the "ePayIn Facility", to help investors transfer funds via RTGS/NEFT to DSPBRMF with an easy to remember bank account number.
Subscription payments via cheques may take anywhere upto three days to credit the mutual fund's account since clearing houses in many cities have discontinued "High Value Clearing" and have emphasized the usage of RTGS and NEFT as an alternate and efficient mode of funds transfer. Further, investors desirous to transfer the funds to DSPBRMF need to remember the bank details of the fund. This can become cumbersome for the investor.
What is ePayIn Facility?
- "e-Pay Facility" is a new initiative to help investors make payments towards their purchase electronically to DSPBRMF, into a bank account maintained with Citibank NA, Fort Branch, Mumbai
- Investors need not remember the bank account number to transfer the funds.