How to Stop an SIP in BSE and BSE 2.0: A Step-by-Step Guide

A Systematic Investment Plan (SIP) can be stopped for a client from the Investwell platform, using the systematic orders section under either BSE or BSE 2.0. The overall process is similar in both, but the BSE 2.0 process includes a cancellation reason and a broker authorisation step. This guide covers both, starting with BSE and then BSE 2.0.

Part 1: Stopping an SIP in BSE

Step 1: Open Systematic Orders and Select the Filters

Under the Invest Online BSE menu, click on Systematic Orders. The Report Configuration screen opens. Here you select the status of the orders you want to view. Use the Select Status drop-down to choose the status. In the screenshot below, the status is set to ACTIVE.

Next, enter the client's name in the Search field. Then select the dates for the report. The screen shows a Registration date toggle with a Start Date range, where you can enter the date range. Once the status, client and dates are set, click Apply.

Step 2: Select the Order and Choose Cease

After you click Apply, the system displays the complete list of systematic orders for the client. Each record shows details such as the amount, number of installments, frequency, status, registration number and the date created. Against each record, you will find a Modify SIP button.

Click Modify SIP on the order you want to stop. You will see three options: Pause, Cease and Change Mandate. Select Cease, and then click Submit.

Step 3: Complete Client Authentication

Once the request is submitted, the client receives an authentication link by email from BSE. The client needs to open this link and authenticate the request.

After the client authenticates, the cancellation order is processed successfully at the exchange end. Until the client completes authentication, the cancellation is not processed, so it is worth confirming with the client that they have received the email and acted on it.

Part 2: Stopping an SIP in BSE 2.0

Step 1: Open Systematic Orders and Select the Client

Under the Invest Online BSE 2.0 menu, click on Systematic Orders. The Report Configuration screen opens. Enter the client's name in the Client Search field, then select the Report Type. You can choose SIP, STP or SWP. For stopping an SIP, select SIP. Once both are set, click Apply.

Step 2: Select the Order and Open the Modify Options

After you click Apply, the system displays the complete list of systematic orders for the client. The page shows counts for Total Order, Active, Paused and Cancelled at the top, followed by the list of orders. Each record shows the investor, UCC, scheme, folio, dates, amount, frequency, number of installments and status. Against each record, you will find a Modify button.

Click Modify on the order you want to stop. A Modify SIP window opens with the scheme name and the SIP details, along with three options under Choose: Pause, Change Mandate and Cease.

Step 3: Cease the SIP, Submit, Authorise and Authenticate

Select Cease in the Modify SIP window. You will then select the cancellation reason from the list provided. Once the reason is selected, click Submit. Once the request is submitted, two things happen. 

The broker will see an option to authorise now for the cancellation request. The client also receives an authentication link by email from BSE.