Question1: What is a Standing Instruction (SI)? Answer: A Standing Instruction is a one-time instruction to allow scheduled funds transfer between your finatiQ Investment Account and the other bank accounts for which you have set up DDA.
Question3: How long does it take for funds to be transferred using SI? Answer: It takes one business day after the specified payment date required for funds to be debited/credited into the Investment Account.
Transaction will be reflected in the monthly statement
No service charge for SI services
If transfer fails due to insufficient funds in the other bank account, the crediting/debiting bank may impose a penalty charge
Question4: Can I change the details of my existing SI? Answer: You can change details such as the crediting/debiting bank account, payment amount, debit frequency or debit date. Complete the "Standing Instructions (SI) Amendment Form " and send it to finatiQ. The form must reach finatiQ at least one working week before the next scheduled transfer, failing which, the amendment requested will only be effective for the subsequent scheduled transfer.
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