Online investing of mutual funds

[life2007]

Originally Posted by Vicky78

i prefer online too

if it is not present online i would rather not invest in that fund.

Hello Vicky

Actually, I am very much impressed by your articles and explanations to queries posted by other members of this forum. You seem to do thorough homework before deciding something.

I would be glad if you could let me know which payment channel you are using for on line investment in Mutual Funds. Is it ICICIDIRECT or SHAREKHAN or something else...

Thanks & Regards

Jeet

[Vicky78]

I do not know about share khan. But ICICIDirect seems to be good. They keep increasing the number of funds that they provide service to.

[life2007]

Thanks Vicky for the information.

Jeet

[GlobalGyan]

currently, Sharekhan offers limited MF . ICICI Direct offers a lot of MFs. I wold say ICICIDirect isvery good in Mutual fund investment - not much hassles, but you need to keep track of all your investments , as there has been cases of units going missing in ICICIDirect.com.
ICICIDirect.com is a BIG NO NO for day trading. It usuallu does not work during trading hours.
I have ICICIDirect.com and Sharekhan.

[life2007]

GlobalGyan

Thanks for the information

Regards

Jeet

[jags4u]

Hi Pradeep,

Are you already member of CITI Investment account?

According to latest SEBI rules all transactions and MF holders should submit their PAN card copy, I think because of the same reason you are seeing that message.

Suggestions:

1) Check whether your PAN card is updated at site or not.
2) If you are in US speak to Customer care using 1-800-248-4674

Thanks,
Jags

[Saand-Bhaaloo]

Well there are two ways you can do this:-

1. Try opening a account with some brokerage houses or ICICIDIRECt etc. once and done forever or else
2. Invest in a mutual fund say SBI Magnum once and apply for an online ID and PIN. as most of the AMCs now provide a facility to continue investing using the same folio number online.

Regards,
SB

[asadbeig]

Hi Pradeep,

I invest in mutual funds through Citibank and i believe that you can open an Online Investment Account for buying/selling mutual funds without contacting any relationship manager. At least, i managed to open one completely online.

HDFC also lets you invest in MFs, but you need to sign up an Investment Services agreement with them before they activate the module.

With ICICIdirect, you get a choice of 19 AMCs to invest with.

A copy of your PAN Card is mandatory in all cases.

[mrindia]

Hello!
HDFC ppl also give u facility for online purchase thro' investment saving acc. But the no of AMCs is less. Anyways nice experience if u have saving acc wid them.
If u r interested in long term SIP best option is ECS wid any of ur saving acc.

[life2007]

Thanks MrIndia :-). I have decided to go with ICICI. I have applied for opening Savings account as well as Direct MF account. Thanks again