Terms and Conditions for EOP Services
General Information
Banayantree Services Limited (hereinafter referred to as "ET Money" or "EOP" or "Banayantree") operates as a Category-1 Execution Only Platform (EOP) licensed by the Association of Mutual Funds in India (AMFI) with Registration No. CAT-1 EOP 0002. The platform facilitates direct investments in mutual funds through its website (www.etmoney.com) and mobile application (ET Money) by collecting investment orders on behalf of the Client and executing them with the respective AMCs. ET Money also provides related services, such as transaction tracking, for the convenience of its users.
By continuing to access or use ET Money's services following updates to our Terms of Use, Terms and Conditions, or Privacy Policy, you acknowledge and agree to be bound by the revised versions of these policies. We recommend reviewing these updates periodically to stay informed of any changes.
Definitions
-
AMC (Asset Management Company):
A company that pools funds from investors and invests them in various securities such as stocks, bonds, or mutual funds, managing these investments on behalf of its clients. -
Client:
Refers to an eligible investor who complies with scheme-related documents of the AMC, is KRA KYC-compliant (KYC Validated) and willing to avail the Execution services of ET Money. -
Cut-Off Time:
Means the time determined by ET Money, within which if any Mutual Fund transaction order is received will be taken up for processing on that day. This time may be different from the AMC cut off time across various categories. -
Direct Plan:
A type of mutual fund plan refers to investing in Zero commission mutual fund schemes without involving a distributor. -
EOP (Execution Only Platform):
An entity registered with the Association of Mutual Funds in India (AMFI) that provides execution services for transactions in direct mutual fund. -
ET Money Platform:
Refers to the online services provided by Banayantree Services Limited, through the website (www.etmoney.com) and / or mobile application (ET Money). -
Easy Pay:
A mandate given by the Client for giving payment instructions to their respective banks, on Client's behalf. -
NAV (Net Asset Value):
The market value of a mutual fund unit, calculated as the total value of assets in the fund minus its liabilities, divided by the total number of units outstanding. -
Non-Business Day:
Any day that is not a working day for mutual fund transactions, such as weekends, public holidays, or any other day declared non-business by regulatory authorities or AMCs. -
RTA (Registrar and Transfer Agent):
A service provider appointed by AMCs to maintain records of mutual fund transactions, manage investor details, and process transactions like purchases, redemptions, and switches.
Client Eligibility and Responsibilities
The Client confirms compliance with all regulatory requirements and asserts that S/he is eligible to invest as per the scheme-related documents. The Client further affirms that they are not prohibited from participating in the capital market by any regulatory or judicial authority, including Securities and Exchange Board of India (SEBI). By availing services on the ET Money platform, the Client declares that all information shared is accurate, up-to-date, and KYC-compliant.
The Client acknowledges that transactions executed outside the ET Money platform in the folio created through ET Money may lead to misrepresentation of data, reports, or other information. ET Money disclaims responsibility for any discrepancies resulting from such external transactions.
Platform Services and Additional Offerings
ET Money offers execution services for schemes of mutual fund AMCs with which it has operational agreements. These transactions will be tagged with ET Money's EOP code: CAT-1 EOP 0002. While ET Money lists select direct plans of various mutual fund schemes, the Client is under no obligation to use the platform for investment purposes. ET Money reserves the right to discontinue services with any AMC at its sole discretion including systematic transactions already registered. In such cases, the Client should contact the AMC directly and cannot hold ET Money liable for any inconvenience or financial losses, whether direct or indirect.
The Client agrees and understands that ET Money will support non-financial transactions on the best effort basis and for such request for change including change of address, mobile number, e-mail id, bank details etc. may require self-attested copy of documents as per procedure of the respective AMCs which is subject to due diligence by AMC/ET Money.
Client understands that, in case of change of bank account details, Client is required to submit the proof of old and new bank account duly signed by the unit holder. ET Money will allow acceptance of change of bank requests for the folio value under the PAN of 1st unit holder up to ₹10 lakh
In addition to its EOP services, ET Money provides advisory services, such as portfolio health analysis, asset tracking, and financial report cards. Although these offerings may appear to be part of the EOP, they are distinct advisory offerings and are subject to separate charges.
Payment Mechanisms and Liabilities
To facilitate payment processing, ET Money has partnered with third-party Payment Gateway service providers. All investment payments initiated through the ET Money platform are directly transferred to the respective AMC's bank account; ET Money does not, at any point, receive the investment funds in its bank account. While payments are securely processed via third-party gateways, ET Money disclaims any liability for issues arising from gateway failures, processing delays, or fraudulent activities occurring at the payment processor or banking end. ET Money shall not be held responsible for any direct or indirect losses incurred by the Client as a result of such issues.
The Client understands that ET Money has partnered with a Payment Gateway/Payment Aggregator to process payments through the Easy Pay facility and some banks may charge fees for providing this service according to their fee structure. Whenever the money transferred through Payment Gateway, the funds may be realized by AMC after a time lag (usually 1-2 business days) from the time it is debited from Client's bank account and NAV will be allotted post realization of funds in AMCs' Bank Account.
Transaction Timelines and NAV Allocation
The Client understands that transactions made on non-business days or after the designated cut-off time will be processed according to SEBI and AMC guidelines. ET Money maintains its own cut-off times for processing transactions, which may differ from those of the AMC. As of now, the cut-off time for redemption and switch transactions is 2:00 PM. The final transaction time is determined by the server timestamp at the moment of confirmation.
All transactions via the ET Money platform are subject to fund realization in the AMC's account. In cases of insufficient funds or other payment failures, ET Money is not responsible for the rejection or non-execution of transaction requests.
In case of Redemptions, if the number of Units held as per the records maintained by AMC and/or the Authorized RTA is less than the number of Units requested to be redeemed, then the Mutual Fund/AMC may either reject the transaction or process redemption only of the available units. Wherever redemption of "all" units is specified in the request, all units held in that scheme shall be redeemed by the Mutual Fund/RTA, irrespective of the number of units of that scheme reflecting in the Clients' ET Money account. All Redemptions shall be subject to the provisions mentioned in the respective Offer Document / Scheme Information Document and addenda thereto issued from time to time.
Refund Policy:
You understand that the transactions on ET Money Platform for Mutual funds will be completed only after the successful transfer of funds from your registered bank account to the relevant Asset Management Company (AMC). You also agree and acknowledge that the transactions once completed cannot be cancelled by you. In case of successful debit of money but failure of transaction or rejection of investment transactions, money will be refunded within minimum two working days to maximum five working days to the source account from the fund house.
Investment Risks and Advisory Disclaimer
Investments in mutual funds and securities are subject to market risks, and there is no assurance or guarantee that the investment/Scheme objectives will be met. Past performance of mutual fund schemes is not indicative of future performance. Please read the Offer Document carefully and obtain expert professional advice before investing.
Data Sharing and Consent
The Client authorizes ET Money to share their KYC information and transaction details with AMCs for compliance and operational purposes. Additionally, ET Money may share personal and transactional data with its internal divisions, vendors, and partners to improve service delivery, provide personalized recommendations, and enhance the user experience.
By continuing to use ET Money after November 20, 2024, the Client consents to the sharing of transactional data up to that date within ET Money 's divisions to offer personalized financial recommendations and enhance the user experience across all ET Money products and services.
Grievance Redressal Mechanism
The Client can address grievances or queries through the ET Money platform's profile section or by emailing the support team at help@etmoneycare.com. If unresolved, the Client may escalate the issue to the Grievance Redressal Officer at grievance.etmoney@timesinternet.in for further assistance.
Miscellaneous Provisions
ET Money relies on third-party sources for content and data presented on its platform. While every effort is made to ensure accuracy, ET Money does not guarantee the completeness, timeliness, or uninterrupted availability of this information.
Any links provided on the ET Money platform are offered "as is," and ET Money does not assume responsibility for the performance or content of linked websites.
Important Documents
The Scheme Information Document, Key Information Memorandum, Statement of Additional Information and other documents are available on the below links:
The Client understands that the above link/website, might get changed, by the AMC, at any point of time at their sole discretion. In such case, ET Money will, to the best of its ability, try and update the new link/address. However, ET Money does not guarantee that the above link/address will be update at all times.
Terms and Conditions for ET Money Genius Implementation of Investment advice
General Information
Banayantree Services Limited (hereinafter referred to as "ET Money Genius" or "Genius" or "Banayantree"), registered with SEBI as an Investment Adviser (Registration No. INA100006898), provides investment advisory services through the ET Money Platform.
By subscribing to the Genius Subscription services, you ("the Client") agree to be bound by these Terms and Conditions, in addition to the general Terms of Use and Privacy Policy of the ET Money Platform. If you do not accept these Terms, please refrain from using the Genius Subscription services.
ET Money Genius reserves the right to modify these Terms and Conditions at its sole discretion without prior notice. Any updates will be published on the ET Money Platform, and continued use of the services constitutes acceptance of the revised Terms.
Definitions
-
AMC (Asset Management Company):
A company that pools funds from investors and invests them in various securities such as stocks, bonds, or mutual funds, managing these investments on behalf of its clients. -
Client:
Refers to an eligible investor who complies with scheme-related documents of the AMC, is KRA KYC-compliant (KYC Validated) and willing to avail the Execution services of ET Money. -
Cut-Off Time:
Means the time determined by ET Money, within which if any Mutual Fund transaction order is received will be taken up for processing on that day. This time may be different from the AMC cut off time across various categories. -
Direct Plan:
A type of mutual fund plan refers to investing in Zero commission mutual fund schemes without involving a distributor. -
ET Money Platform:
Refers to the online services provided by Banayantree Services Limited, through the website (www.etmoney.com) and / or mobile application (ET Money). -
Easy Pay:
A mandate given by the Client for giving payment instructions to their respective banks, on Client's behalf. -
NAV (Net Asset Value):
The market value of a mutual fund unit, calculated as the total value of assets in the fund minus its liabilities, divided by the total number of units outstanding. -
Non-Business Day:
Any day that is not a working day for mutual fund transactions, such as weekends, public holidays, or any other day declared non-business by regulatory authorities or AMCs. -
RTA (Registrar and Transfer Agent):
A service provider appointed by AMCs to maintain records of mutual fund transactions, manage investor details, and process transactions like purchases, redemptions, and switches.
Client Eligibility and Responsibilities
The Client confirms compliance with all regulatory requirements and asserts that S/he is eligible to invest as per the scheme-related documents. The Client further affirms that they are not prohibited from participating in the capital market by any regulatory or judicial authority, including Securities and Exchange Board of India (SEBI). By availing services on the ET Money platform, the Client declares that all information shared is accurate, up-to-date, and KYC-compliant.
The Client acknowledges that transactions executed outside the ET Money Genius platform in the folio created through ET Money Genius may lead to misrepresentation of data, reports, or other information. ET Money Genius disclaims responsibility for any discrepancies resulting from such external transactions.
Platform Services and Additional Offerings
ET Money Genius offers implementation service of investment advice for schemes of mutual fund AMCs with which it has operational agreements. These transactions will be tagged with ET Money Genius's code: INA100006898. While ET Money Genius lists select direct plans of various mutual fund schemes, the Client is under no obligation to use the platform for investment purposes. ET Money Genius reserves the right to discontinue services with any AMC at its sole discretion including systematic transactions already registered. In such cases, the Client should contact the AMC directly and cannot hold ET Money Genius liable for any inconvenience or financial losses, whether direct or indirect.
The Client agrees and understands that ET Money Genius will support non-financial transactions on the best effort basis and for such request for change including change of address, mobile number, e-mail id, bank details etc. may require self-attested copy of documents as per procedure of the respective AMCs which is subject to due diligence by AMC/ET Money Genius.
The Client agrees and understands that the advice implementation service in SEBI-regulated products by ET Money Genius is provided to the client without any fee, consideration including any commission or referral fees, directly or indirectly and the client is not under any obligation to avail implementation services offered by the ET Money Genius.
Payment Mechanisms and Liabilities
To facilitate payment processing, ET Money Genius has partnered with third-party Payment Gateway service providers. All investment payments initiated through the ET Money platform are directly transferred to the respective AMC's bank account; ET Money does not, at any point, receive the investment funds in its bank account. While payments are securely processed via third-party gateways, ET Money disclaims any liability for issues arising from gateway failures, processing delays, or fraudulent activities occurring at the payment processor or banking end. ET Money shall not be held responsible for any direct or indirect losses incurred by the Client as a result of such issues.
The Client understands that ET Money Genius has partnered with a Payment Gateway/Payment Aggregator to process payments through the Easy Pay facility and some banks may charge fees for providing this service according to their fee structure. Whenever the money transferred through Payment Gateway, the funds may be realized by AMC after a time lag (usually 1-2 business days) from the time it is debited from Client's bank account and NAV will be allotted post realization of funds in AMCs' Bank Account.
Transaction Timelines and NAV Allocation
The Client understands that transactions made on non-business days or after the designated cut-off time will be processed according to SEBI and AMC guidelines. ET Money maintains its own cut-off times for processing transactions, which may differ from those of the AMC. As of now, the cut-off time for redemption and switch transactions is 2:00 PM. The final transaction time is determined by the server timestamp at the moment of confirmation.
All transactions via the ET Money Genius platform are subject to fund realization in the AMC's account. In cases of insufficient funds or other payment failures, ET Money is not responsible for the rejection or non-execution of transaction requests.
In case of Redemptions, if the number of Units held as per the records maintained by AMC and/or the Authorized RTA is less than the number of Units requested to be redeemed, then the Mutual Fund/AMC may either reject the transaction or process redemption only of the available units. Wherever redemption of "all" units is specified in the request, all units held in that scheme shall be redeemed by the Mutual Fund/RTA, irrespective of the number of units of that scheme reflecting in the Clients' ET Money account. All Redemptions shall be subject to the provisions mentioned in the respective Offer Document / Scheme Information Document and addenda thereto issued from time to time.
Refund Policy:
You understand that the transactions on ET Money Genius Platform for Mutual funds will be completed only after the successful transfer of funds from your registered bank account to the relevant Asset Management Company (AMC). You also agree and acknowledge that the transactions once completed cannot be cancelled by you. In case of successful debit of money but failure of transaction or rejection of investment transactions, money will be refunded within minimum two working days to maximum five working days to the source account from the fund house.
Investment Risks and Advisory Disclaimer
Investments in mutual funds and securities are subject to market risks, and there is no assurance or guarantee that the investment/Scheme objectives will be met. Past performance of mutual fund schemes is not indicative of future performance. Please read the Offer Document carefully and obtain expert professional advice before investing.
Data Sharing and Consent
The Client authorizes ET Money Genius to share their KYC information and transaction details with AMCs for compliance and operational purposes. Additionally, ET Money Genius may share personal and transactional data with its other business divisions and partners to improve service delivery, provide personalized recommendations, and enhance the user experience.
By continuing to use ET Money after November 30, 2024, the Client consents to the sharing of transactional data up to that date within ET Money Genius's divisions to offer personalized financial recommendations and enhance the user experience across all ET Money products and services.
Grievance Redressal Mechanism
The Client can address grievances or queries through the ET Money platform's profile section or by emailing the support team at help@etmoneycare.com. If unresolved, the Client may escalate the issue to the Grievance Redressal Officer at grievance.etmoney@timesinternet.in for further assistance.
Miscellaneous Provisions
ET Money relies on third-party sources for content and data presented on its platform. While every effort is made to ensure accuracy, ET Money Genius does not guarantee the completeness, timeliness, or uninterrupted availability of this information.
Any links provided on the ET Money platform are offered "as is," and ET Money does not assume responsibility for the performance or content of linked websites.
Important Documents
The Scheme Information Document, Key Information Memorandum, Statement of Additional Information and other documents are available on the below links:
The Client understands that the above link/website, might get changed, by the AMC, at any point of time at their sole discretion. In such case, ET Money will, to the best of its ability, try and update the new link/address. However, ET Money does not guarantee that the above link/address will be update at all times.