FAQ — Frequently asked Questions:
We have answered the most frequently asked questions below. If you still have any questions unanswered or need further explanation below, please feel free to write to us at: faq@moneyfrog.in … FAQ Disclaimer … Last update: 1st May 2022.
Registration/ Onboarding/ Fees/ Accounts/ Payment
What does Moneyfrog covers in its Financial Services Platform? Why it’s different?Moneyfrog offers Financial Services Platform, i.e., the Website, the Mobile app (iOS & Android), and the Human experts: a) To aggregate individual/ family financial data, towards tracking & analytics. b) To distribute various financial products, like Mutual Funds, Insurance, Equity, Fixed Income, PMS etc. based on the need & requirements. c) And provides human experts, to speak & guide on the investments, not once, but regularly, with a monthly/ or a quarterly review, in-short Life long. d) The IT platform is evolving constantly (we call it work in progress), built & designed by the Moneyfrog own IT engineers.
How do I register myself?It's a simple & a quick registration, with an easy step-by-step guide. To view the complete dashboard, you need to enter your investments & other data, which may take some time. To avail the full service; you have to make an onboarding payment (to activate your account). Same can be completed by clicking at "my account" on top right corner and clicking on "onboarding".
What are the various accounts you have?We offer two accounts: Executive & Uber. Executive is an online investment account, where human experts help to guide on products offered. Uber is an HNI/ NRI online account, with senior expert’s handholding & offers many other features (usually for HNI/ NRI, individual/ family, with investment portfolio upward of 50lacs). Both these accounts are activated by paying the respective onboarding fees.
What is the validity of the onboarding fees paid?Onboarding fees is a one-time fee, paid to activate your online account. Why we charge? ... as being a distributor of financial products, our earning is on the trail commission (Mutual Funds) and to break-even on the cost for a new customer service, it usually takes 12 to 24 months, which helps the company maintain positive cash flow.
Does Moneyfrog charges any additional fees?NO. We do not charge any additional fees. But, as a distributor of financial products (Mutual Funds), we earn trail commission on the products we offer. Know more.
Do I have to pay for your services every year?NO. The onboarding fees is a one-time fee. Why we charge? ... as being a distributor of financial products, our earning is on the trail commission (Mutual Funds) and to break-even on the cost for a new customer service, it usually takes 12 to 24 months, which helps the company maintain positive cash flow.
How does Moneyfrog earn money/ income?Moneyfrog is a registered financial product distributor and earns trail commission on the various financial products offered (mainly Mutual Funds). Same is disclosed on the disclosure page. Know more.
Do I need to do anything else after making the onboarding payment?Yes, you need to fill all your details on our website. Our step by step & tour guide will make your journey easier & fun filled. We have also provided templates/excel upload, where data against each asset class can be entered.
Is there a minimum amount required for Investments?
Minimum amount for investments, usually depends on the products offered, for instance, in Mutual Funds, one can start at as low as INR500.
What is your refund policy on onboarding charges?Refund is not available on our onboarding fees, unless it’s requested within 5days of the payment made.
What methods of payment are accepted for Moneyfrog towards onboarding charges?You can make online payment through Credit Card /Debit Card /Net Banking/ UPI.
I entered my payment details and hit submit. It shows a blank screen and no confirmation. But my credit/debit card has been charged. What should I do now?Don't worry. Sometimes due to a slight technical glitch you might experience this problem. If your credit card has been charged and your order confirmed, you will receive the confirmation email. If not, your amount will be credited to your bank account within 7 working days or as per the terms of your credit/ debit card, which you can confirm from your respective credit/ debit card.
I am trying to make a payment for the onboarding fees, but it says payment failed. What should I do?
Please check your internet connection. Sometimes, it so happens that due to slow internet connectivity or other issues with it, the payment authentication fails. If your internet connection is okay, please give us a call or write to us (+91 9004675553 or faq@moneyfrog.in). We will get back to you quickly and solve your issue.
Data Safety/ Privacy Policy/ Security
How safe is my data? What level of encryption do you use?
Your data is absolutely safe. We use 256-bit encryption, the same that all Banks use. 256-bit encryption is a data/file encryption technique that uses a 256-bit key to encrypt and decrypt data or files. It is one of the most secure encryption methods after 128- and 192-bit encryption, and is used in most modern encryption algorithms, protocols and technologies including AES and SSL. Check link to understand data security
Your financial information is stored safely
Moneyfrog account is designed & developed to protect the confidentiality, integrity and security of your personal information during storage and transmission of your data. Your account User ID and password and all your account details are stored in highly secure servers.
Only you can access your financial informationWhile Moneyfrog account provides you access to all your financial information. Moneyfrog account uses robust SSL encryption technology to secure your data. Your account data is stored and transmitted in an encrypted format at all times.
Only you can review your financial information
No money can be moved through Moneyfrog. This means that even though you can view your accounts, analyze and transact, you cannot transfer money between accounts through Moneyfrog.
Only you can make important financial transactions
Moneyfrog account is designed & developed to protect the confidentiality, integrity and security of your personal information during storage and transmission of your data. For instance, you can buy mutual funds online only after authentication through transaction credentials, known only to you. Moreover, you will receive instant e-mail and text alerts that notify you of any transactions, hence ensuring financial security.
Here are a few tips to help keep you safe online:
Keep your passwords safe-don’t share it with anyone.
Mix it up - make sure that your password includes numbers, capital letters & special characters.
Use virus protection and a firewall on any computer you use to access Moneyfrog.
Don’t install programs from people or companies you don’t know.
Learn to prevent identity theft and identify phishing attempts.
What if lose my mobile device or someone steals it?
Moneyfrog enables you to manage the mobile devices associated with your account. You can remove mobile access to your account, change your password, or delete the account entirely.
The Moneyfrog app also has a security feature where you can set a 4-digit PIN to help keep you protected. This feature can be found in the Settings option at the main menu.
What is Moneyfrog's privacy policy?
We, at MoneyFrog.in, value your privacy, and consider our relationship with you as invaluable and strive to respect and safeguard your right to privacy. For more details related to privacy policy - Click here
Can my data be mis-used? How can I be sure that my data will not be shared with other marketers?
NO. Moneyfrog does not share your details with third parties without your consent. When we have to connect you with third parties for execution of your financial products, we seek your consent before sharing your details with them. Hence your data is only shared when you permit it to be shared.
Mutual Funds/ Regular Plan/ Direct Plan/ Risk/ ExecutionWhat is offered in Mutual Funds?
Moneyfrog Financial Services Pvt Ltd, is an AMFI registered Mutual Funds distributor (ARN-94798), where we offer Regular Plans to our customers. Regular Plan means, we earn distributor commission, as a trail income every month. At Moneyfrog we only offer Regular Plan, as this is our income for the services, we offer to you.
Mutual Funds RiskoMeter? How to measure Risk in Mutual Funds? Low Risk, Moderate Risk, High Risk?Mutual Funds RiskoMeter, is a six-level pictorial meter, which is part of the Mutual Funds scheme document, made by the respective AMC (as mandated by SEBI). RiskoMeter helps an investor to understand a Mutual Funds scheme, in terms of the risk associated. Below table gives the risk level, suitability for an investor, and investor profile for the six levels. Though it may look simple & easy, but it is recommended to understand risk & suitability with the help of an expert or an advisor.
| Risk Level | Suitable For | Investor Profile |
|---|---|---|
| Low | Conservative | Investor is willing to accept minimal risks and hence, might receive minimum or no returns. |
| Low to Moderate | Moderately Conservative | Investor is willing to accept small level of risk in exchange for some potential returns over the medium to long term. |
| Moderate | Moderate | Investor can tolerate moderate level of risk in exchange for relatively higher potential returns over the medium to long term. |
| Moderately High | Moderately Aggressive | Investor is keen to accept higher level of risk in order to maximize potential returns over the medium to long term |
| High | Aggressive | Investor is willing to accept significant risks to maximize potential returns over the long term and is aware that he/she may lose all or significant part of capital. |
| Very High | Very Aggressive | Investor is willing to accept very high risks to maximize potential returns over the long term and is aware that he/she may lose all/ significant part of capital. |
What is a Regular Plan in Mutual Funds?
Regular Plan in Mutual Funds means that there is an inbuilt distributor commission, which is paid back to the distributor by the Mutual Fund companies (AMC’s), for the services offered. Idea behind same is the fact that distributor is helping you select funds, offer insights & execute, and not just that, distributor will be your guide for years or till the time you avail the services. At Moneyfrog we only offer Regular Plan, as this is our income for the services, we offer to you. Income disclosure.
What is a Direct Plan in Mutual Funds?Direct Plan in Mutual Funds means that there is zero distributor commission, as you do not need any help or guidance from anyone. In short it means that you will be selecting mutual funds on your own, based on your knowledge & research, you will execute, and you will only track on market volatility every month/ year. At Moneyfrog we only offer Regular Plan, as we do not offer free services.
Which is good – a Regular Plan or a Direct Plan?
Simple Question one should ask – Can I invest or select Mutual Funds on my own, based on my knowledge & research, and track monthly/ quarterly/ yearly on market volatility. If answer to this question is YES, one should ideally go for Direct Plans. And if answer is NO, one should go to Regular Plan, as one needs help & guidance, and services are never offered free.
How much is a distributor commission in a Regular Plan?
Mutual Funds have many categories, and each category & scheme will have different commissions, based on the SEBI guideline. Ideally Equity funds will have 0.5% to 1% annual trail commission, and Debt funds will have 0.01% to 0.75% annual trail commission. Know more – commission disclosure.
Which are the companies (or AMC’s) we are associated with?List of companies we are associated with: List
Insurance/ Term Plan/ Medical Plan/ Traditional Plan/ ULIPWhat is offered in Insurance?
Moneyfrog Financial Services Pvt Ltd, is an IRDA registered Insurance Corporate Agent (CA-0450), where we offer Insurance plans based on customers need & requirement. As a corporate agent we earn upfront & trail commission on the insurance products we recommend. Income disclosure.
Which are the insurance companies we are associated with?List of companies we are associated with:
Equity/ Account/ Stock Markets Moneyfrog Registration? MMoneyfrog Financial Services Pvt Ltd, is registered as an Authorised Person*** (Business Associate), with Motilal Oswal Financial Service Ltd (MOFSL). MOFSL is a SEBI registered stockbroker/ trading member, registered with multiple exchanges. MOFSL details: www. motilaloswal.com
*** Authorised person provides access to trading platform of a stock exchange as an agent of the stockbroker/ trading member.
What is offered in Equity?We offer a MOFSL hybrid equity trading account, where customer can operate the account online, and/or through Moneyfrog dealing desk, by speaking to the respective dealers.
Account opening & Brokerage fees.MOFSL equity trading account is usually opened within 7 working days. We offer a competitive brokerage or fees, compared to the other brokers. We do not offer free or a zero-brokerage account.
Account related/ Report/ Pages/ Advisory Who is going to assist me in my account?Our team consists of qualified CFP/ MBA experts, who will offer Mutual Funds or Financial products, based on your requirements. They will interact with you online, over the phone or a video call.
Can I have help entering data into the system?You need to update your details by yourself. In case you cannot or not able to figure out things, you can always call us & we will help you.
Can I come to your office & meet?We offer a centralized online service based out of Mumbai. If you can travel, we love to meet you over a cup of coffee in our office.
Will someone visit my place to explain/ guide on the investments?We prefer online modes to connect; like a video-call (most preferred) or a phone call, as we are based out of Mumbai currently. In case you are visiting Mumbai or stay in Mumbai, please feel free to come to our Mumbai office (for a cup of coffee).
How much time will you take to activate me account/ first investment?From the time account is activated/ data entry is over; ideally within 7 working days.
What is Moneyfrog dashboard? Moneyfrog Dashboard offers insights on your Net-worth, Investments, with various calculators & tools, such that you can understand your financial data with ease. Moneyfrog trackers are set of proprietary tools, designed & developed by the in-house team, which is constantly evolving, based on your feedback & new requirements.
What is My Financial info?My Financial info helps you to view, track & monitor your investments & finances, asset wise, with LIVE data feed. This also includes assumption towards inflation, asset wise returns & other parameters. Each asset class has multiple features & highlights to understand, track & set alerts towards renewal, maturity, or price target. One can track investments family wise, as well as individual member wise.
Investment Execution/ Trust/ Tax File/ Refer ProgramHow will the Investment execution take place?We have online integration towards investment execution for Mutual Funds & other financial products. Incase offline execution is required, one of our associates will help you towards document courier/pickup and the submission accordingly.
Can I trust your employee/ experts?YES, you can trust our appointed employee/ experts, as each one of them have undergone the eligibility, compliance & training towards servicing customers & product offerings. Each of them has cleared the necessary regulatory certification & compliance.
Will you help me in IT Tax returns filing?YES, we will help you in your IT Tax returns filing. This will be offered as a value-add service & may cost additionally, based on the quantum of data/ upload required.
What do you mean by referral program?Once you experience our services, we believe that you become our brand ambassador. In-short you spread our service standards, by referring your near & dear ones. In turn, we offer exclusive refer rewards to you.
About-Us/ Office/ Business-associate/ GrievanceWho are the people behind Moneyfrog? We are a team of Finance & Technology professionals, who got together with zeal to make a difference in the way Financial Services is offered in India. Idea behind same is to solve the problem of mis-selling & wrong products offered by the traditional players. About-us Page
Where is your office located?We have a centralized operation, and we are based out of Mumbai, India. Our office is currently located at 723 & 724 - Swastik Chambers, CST Road, Chembur East, Mumbai - 400071, India.
I am interested in becoming a Business-associate; can you give me some information?If you are interested, please write back with your details to: faq@moneyfrog.in
FAQ - DisclaimerThe FAQs are some of the questions that we frequently get asked in some (but not all) of the areas in which we offer our services. These FAQs are meant to serve merely as guidance and consequently have no legal merit. They can also be subject to amendments. The information, however, is intended to be helpful and to get you thinking in a more sophisticated manner about your requirements & queries. Moreover, we encourage you to contact us directly (phone or email), to dialog further on your requirements, queries, or areas of interest. Email – faq@moneyfrog.in.
