August 29, 2019

How to Invest in Mutual Funds through WhatsApp?

Have you ever thought of investing is so easy? Now you can invest in Mutual Funds through WhatsApp. Few AMCs and CAMS recently started this feature.

Invest in Mutual Funds through WhatsApp

WhatsApp is a huge popular messenger tool for many of us to connect socially. Considering this as an opportunity to penetrate the mutual fund business, few AMCs and CAMS recently started this feature.

Many of those who are investors in Mutual Funds may be well aware that CAMS is an R&T Agent for 16 AMCs. The list of participating mutual funds are as below.

  • Aditya Birla Mutual Fund
  • DSP Mutual Fund
  • HDFC Mutual Fund
  • HSBC Mutual Fund
  • ICICI Mutual Fund
  • IDFC Mutual Fund
  • IIFL Mutual Fund
  • Kotak Mutual Fund
  • L&T Mutual Fund
  • Mahindra Mutual Fund
  • PPFAS Mutual Fund
  • SBI Mutual Fund
  • Shriram Mutual Fund
  • TATA Mutual Fund
  • Union Mutual Fund
  • Yes Mutual Fund.

I hope the majority of AMCs are listed with CAMS. Along with CAMS, Birla Sunlife AMC and Motilal Oswal AMC already started their own feature of invest in Mutual Funds through WhatsApp.

What are the services available for investors in WhatsApp?

CAMServ allows you the following features.

# Purchase

# Redeem

# Start a SIP

# Receive your Account Statement

# Check status of your transaction

# Additional Purchases in existing or new folios.

# Change your bank details

# Change nominee or Joint Holder or any other personal details.

Birla Sun Life Mutual Fund allows you to invest a lump sum or via SIP, redeem, get your account statement, capital gain statement and get NAV of your schemes. The facility allows new investors to complete their KYC as well.

Motilal Oswal Mutual Fund allows its existing investors to invest via SIP or lumpsum. Investors can purchase in equity schemes, index fund NFOs, and hybrid schemes. Motilal Oswal doesn’t allow you to buy debt funds. If you are a first-time investor with the AMC, the facility asks you to open an account on the AMC’s website first.

How to Invest in Mutual Funds through WhatsApp?

Let us now understand the process of how to invest in Mutual Funds through WhatsApp.

CAMS recently launched a WhatsApp-based bot ‘CAMServ’ to help individuals to perform various financial and non-financial transactions in any of the 16 AMCs serviced by it.

To access CAMServ, save ‘6384863848’ number in your contact list. Open the WhatsApp window and just type ‘Hi’ to get started.

To use Birla Sun Life Mutual Fund investment facility through WhatsApp, you can save 88288 00033 in your phone. Send a ‘Hi’ to initiate the conversation. The conversation then flows depending on what you are looking for. Alternatively, you can give a missed call at 9579810022, or send code “Yes” via SMS on 8451000355.

To use Motilal Oswal Mutual Fund WhatsApp investment facility, you can add number 9372205812 in your phone contact list, open WhatsApp window and type ‘Hi’ to start the conversation.

Invest in Mutual Funds through WhatsApp – Should you use?

Do remember one basic funda of investing. Whatever may be the technological advances one can use to invest, it is the risk management and how you behave with money are the important things.

Hence, just because of these AMCs or CAMS (In future Karvy or Franklin) making your investment experience easier does not mean you avoided the RISK.

At the end of the day, these fancy features are just to garner the business for AMCs. Hence, never be in such fancy featured traps. However, if you understood the purpose of the investment and such features will ease your life, then go ahead.

But investing just because there are certain such fancy features means a dangerous act. Act wisely and cautiously.

4 Comments

  1. Very good

    Reply
  2. What would be the assurance for other people to trust whatsapp for their mutual fund?

    Reply
    • Dear Soccervip,
      This is the facility provided by chatbots of AMCs. Hence, in no way it is related to WhatsApp. For WhatsApp, it is one more chatting going on.

      Reply
  3. Nice article…informative

    Reply

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