I want to update/change the bank account details registered to my investments, how can I do this?

The bank change process involves three steps:

1. Raise the request for bank change from your Scripbox account

2. Updating the new bank account details in the existing folios

3. Updating the new bank account details  in the Scripbox records

Steps to raise the bank change request via the app:

a. Login into your Scripbox account

b. Click on Profile (towards the right-hand side corner on the top of the home page)

c. Click on the investor name - Under Investments - Click on Scripbox - Click on Change next to your Bank account

d. Edit the bank account details and Click on Update Changes

For updating the new bank account details at the folios (7-10 working days) (Scanned Copies):

Once you raise the bank change request, you are required to share the below-mentioned documents in scanned copies to update your new bank account details in your Scripbox account as well as at the folios in which you have been investing : 

a. Bank Change letter with your wet signature (you will receive the letter once the request is raised)
b. Old bank proof: cancelled cheque with name printed or 3 months bank statement with self and banker's attestation or passbook with 3 months transaction sheet (self and bankers attestation is mandatory)
c. New bank proof: cancelled cheque with name printed or 3 months bank statement with self and banker's attestation or passbook with 3 months transaction sheet (self and bankers attestation is mandatory)
d. Self-signed PAN card copy.

For updating the new bank account details in your Scripbox account (1 working day): 

 a.Once the new bank account details are updated in the KYC as well as at the folios, the new bank account details will be updated in the Scripbox records.

Note: When the bank change request is processed, you will not be able to invest or withdraw. This is to ensure that the wrong bank account does not get used.

Whenever any change of bank details request is received simultaneously with or just prior to the submission of a redemption request, mutual funds allow a cooling period of ten days as a matter of precaution against unauthorised/fraudulent transactions. You will be able to place a redemption request once the cooling period is over.