Switch from one scheme to another

Facilitate switch orders for your investor

You can use MF switch order APIs to :

• Switch from one scheme to another scheme in the same AMC.
• Switch units from one scheme to another partially or completely.
• Switch amount from one scheme to another partially or completely.
• Track the status of switch orders placed.

1. Check eligibility for switch in and switch out orders

If you are switching out from the scheme, you should ensure that

• The switchout scheme must be active and `switchout_allowed` attribute must be true
• The switch_out order amount must be >= min_switch_out_amount
• The units you are switching out from the scheme must be >=min_switch_out_units
• The switch_out order amount must be in the denomination of switch_out_amount_multiples
• The switch_out order units must be in the denomination of switch_out_unit_multiples

If you are switching in to the scheme, use get fund scheme and ensure that

• The switchin scheme must be active and `switchin_allowed` attribute must be true
• The switch_in order amount must be >=min_switch_in_amount
• The switch_in order amount must be in the denomination of switch_in_amount_multiples

2. Create a switch order

You can create a switch order by calling create mf switch api. You should provide the isin of the switch_in scheme and switch_out scheme along with the investment account and folio number for which the order should be placed.

Switch order by amount

{
  "mf_investment_account": "mfia_189111b00566431db0dace5332db519c",
  "folio_number": "15075102",
  "amount": 10000,
  "switch_out_scheme": "INF273K01FQ0",
  "switch_in_scheme": "INF171K07FQ0"
  }

Switch order by units

{
  "mf_investment_account": "mfia_189111b00566431db0dace5332db519c",
  "folio_number": "15075102",
  "units": 1000,
  "switch_out_scheme": "INF273K01FQ0",
  "switch_in_scheme": "INF171K07FQ0"
  }

For full switch in or full switch out orders

{
  "mf_investment_account": "mfia_189111b00566431db0dace5332db519c",
  "folio_number": "15075102",
  "switch_out_scheme": "INF273K01FQ0",
  "switch_in_scheme": "INF171K07FQ0"
  }

An mf_switch order gets created for which you need to make a payment.

# Displaying only a part of the object(response) for brevity
{
  "object": "mf_switch",
  "id": "mfs_b1aba06d52184619151d3b82efa65de6",
  "old_id": 16586,
  "mf_investment_account": "mfia_189111b00566431db0dace5332db519c"
}

Once you have created a switch order, you have to obtain consent from the investor for the switch order.

3. Obtain investor's consent for the switch order by sending an OTP to email or mobile or both

As per SEBI regulations, investor consent must be obtained by sending a One Time Password to the investor, at his/her email/phone number registered against the folio before redemptions can be sent to RTAs. Call the List folios API and fetch email addresses and mobile numbers against the folio.

# Displaying only a part of the folio object for brevity
{
  "email_addresses": [
    "mfp@cybrilla.com"
    ],
    "mobile_numbers": [
      "+919999999999"
    ]
}

Send OTP to any one of the email addresses/mobile numbers. Once the OTP has been sent and investor has entered the correct OTP, You can confirm the order.

4. Order confirmation

You can use update mf switch to confirm the order. FP sends orders for processing only after confirmation. Use the following json:

    {
      "id": "mfs_b1aba06d52184619151d3b82efa65de6",
      "state": "confirmed",
      "consent": {
        "email": "mfp@cybrilla.com",
        "isd_code": "91",
        "mobile": "9000011111"
      }
    }

5. Track the order

You can check the state of the switch order by calling fetch mf switch api. When the order is successfully submitted to the AMC, the order status becomes submitted. You can learn more about the order states here.

Testing

In sandbox, use the order simulation api to simulate successful and failed orders to help you during the integration process. Use the following json to simulate the order to successful state.

    {  
    "status": "SUCCESSFUL"
    }