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Which app doesn't suck for IPOs?

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catcat

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Quite strange that India's 2 most heavily used UPI apps, i,e. GPAY and Phonepe, suck terribly for IPOs.

Gpay will not let you accept an IPO mandate from anything other than your primary account. (actually this holds true not just for IPOs, but for all collect requests). Phonepe was okay till now, but today they send me this message


"R K Swamy Limited has sent you an AutoPay request for upto Rs.14400. If you are unable to view the request, please update your PhonePe app. -PhonePe".

Had got this message earlier too, but in those times, a notification came. BUt not this time. And no way to find or accept the mandate now.

Paytm was good on this count - they sent a deep link, would open the mandate page. Though they made it very difficult to check the mandates.
The best so far has been the good 'ol Bhim. No message with deep link, but the IPO application mandates & status is easy to find - the button id displayed prominently on the front page.

Never thought a Sarkari app would beat market leaders, but there you are!

Any other recommendations? How's mobikwik?

PS: I think that gpay is good enough if you don't use multiple accounts, but I prefer to do normal payments from one account, and do my investments from another, and often my primary account does not have enough funds to apply.
 
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Actually I am not facing any issues with Gpay mandates. My investment bank account is not the default one in Gpay. You should use account specific UPI IDs while registering for IPO. (In settings you can see / create separate UPI IDs for each of the bank account you hold). Use those UPI IDs to generate mandates.
 
catcat said:
Quite strange that India's 2 most heavily used UPI apps, i,e. GPAY and Phonepe, suck terribly for IPOs.

Gpay will not let you accept an IPO mandate from anything other than your primary account. (actually this holds true not just for IPOs, but for all collect requests). Phonepe was okay till now, but today they send me this message


"R K Swamy Limited has sent you an AutoPay request for upto Rs.14400. If you are unable to view the request, please update your PhonePe app. -PhonePe".

Had got this message earlier too, but in those times, a notification came. BUt not this time. And no way to find or accept the mandate now.

Paytm was good on this count - they sent a deep link, would open the mandate page. Though they made it very difficult to check the mandates.
The best so far has been the good 'ol Bhim. No message with deep link, but the IPO application mandates & status is easy to find - the button id displayed prominently on the front page.

Never thought a Sarkari app would beat market leaders, but there you are!

Any other recommendations? How's mobikwik?

PS: I think that gpay is good enough if you don't use multiple accounts, but I prefer to do normal payments from one account, and do my investments from another, and often my primary account does not have enough funds to apply.
Click to expand...
Please use ASBA channel to invest in IPO's, don't use UPI mechanism it sucks.

ASBA is easy , trackable, refund is easy and fast.

Any major Bank , go to Net banking, Investments-> ASBA and register there with Name, Pan, Demat number etc.. details once, that's it. After that no need to re-register unless bank got some updates in their netbanking portal (its rare).

Once you ASBA registration is completed. Whenever IPO comes , login to netbanking, invstments and apply for IPO , the amount gets blocked (not debited) from your bank account. IF IPO is alloted it will get debited or else the amount gets unblocked. You will not see any debit transaction/record in bank statement. (which is easy if you are not alloted, during ITR and annual statement checking)

No additional charges of using ASBA.

Once you apply IPO , you also get Tracking and downloadable receipt that you applied for IPO.

I personally use SBI, Axis ASBA , they are smooth , easy , reliable and ASBA services will be available only till 3PM for some IPO on last day of IPO
 
avikrish said:
Please use ASBA channel to invest in IPO's, don't use UPI mechanism it sucks.

ASBA is easy , trackable, refund is easy and fast.

Any major Bank , go to Net banking, Investments-> ASBA and register there with Name, Pan, Demat number etc.. details once, that's it. After that no need to re-register unless bank got some updates in their netbanking portal (its rare).

Once you ASBA registration is completed. Whenever IPO comes , login to netbanking, invstments and apply for IPO , the amount gets blocked (not debited) from your bank account. IF IPO is alloted it will get debited or else the amount gets unblocked. You will not see any debit transaction/record in bank statement. (which is easy if you are not alloted, during ITR and annual statement checking)

No additional charges of using ASBA.

Once you apply IPO , you also get Tracking and downloadable receipt that you applied for IPO.

I personally use SBI, Axis ASBA , they are smooth , easy , reliable and ASBA services will be available only till 3PM for some IPO on last day of IPO
Click to expand...
Does it work with any broker? Or is it specific to bank broker only.

e.g. Axis ASBA will work with zerodha dmat ID?
 
sourpai said:
Does it work with any broker? Or is it specific to bank broker only.

e.g. Axis ASBA will work with zerodha dmat ID?
Click to expand...
ASBA is a mechanism it deosn't depend on broker, the input required is Demat number , your demat can be either with NSDL/CDSL doesn't matter.

Try checking out how to register in ASBA based on you bank account on youtube, you will get step by step help
 
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