How do I change my bank details? What are the documents required for change in bank account?
You can change your bank by following the below procedures.
- Log in to your Scripbox account
- Click on Profile–>Settings–>Manage Family
- Click on Change Bank
- Click on your name
- Click on Bank–>Edit and submit
Once done please share the physical copies of the following documents to us:
- Self-signed pre-filled bank change letter received on your registered email ID.
- Cancelled cheque leaf with your name printed on it of the NEW BANK ACCOUNT.
- Cancelled cheque leaf with your name printed on it of the OLD BANK ACCOUNT.
- A Self-signed PAN card copy.
It usually takes around 10 working days to update your bank account details with the mutual fund companies once we receive the above documents from you.
- During this period you will not be able to invest or withdraw. This is to ensure that the wrong bank account does not get used.
- There might be additional documents required if any of the mutual fund houses requests for it. We will reach out to you in that case.
* If you have a cheque without name printed, along with the cheque, you can provide a recent 3-month detailed bank statement with the bank seal and signature of a bank employee with employee name, employee code and designation mentioned.
* Incase your old account is closed and you do not have a cheque with name printed for the same, please provide a closure confirmation letter on the bank’s letter head with the seal and signature of the bank official.
Once your new bank details are updated by all the mutual fund houses, you will receive a confirmation email from Scripbox. Thereafter you can instantly link your bank account using internet banking, if you have added a bank account from the listed banks. Otherwise share a clear scanned image of self-signed link-your-bank-account form received on your registered email ID at email@example.com or whatsapp us at +91-8884448026.
(Only for Paper Bank Linking Form – It usually takes another 20 working days to link your bank account for automated investments, once your bank account details are changed.)
Note: Whenever any change of bank details request is received simultaneously with, or just prior to submission of a redemption request, mutual funds allow a cooling period of ten days as a matter of precaution against unauthorized/fraudulent transactions. You will be able to place a redemption request once the cooling period is over.