Is AutoFi for me?

If you make more than 6-7 regular payments, AutoFi will be of great help.

Here are the payments that AutoFi takes care of:

  • Rent, maintenance, credit cards
  • Salaries for drivers, maids, cooks
  • School fees, club fees, gym fees, gym trainer, yoga trainer
  • Tuition, music, sports, art classes
  • Milk delivery, mobiles, landline, electricity, water, piped gas, DTH

Sometimes even a small number of payments could be stressful to manage. If you find yourself missing due dates, and worrying about keeping track, AutoFi could be of tremendous help.

AutoFi is not for everyone.

Tell me about AutoFi

AutoFi is a young service – just over a year old. But has grown quickly.

AutoFi is making close to Rs 3 crores worth of payments and manages over 4,500 bills and payment transactions.

AutoFi is founded by Amit Wilson and Shantanu Kumar.

The motivation for building Autofi was to

  • to make life simpler for you
  • to make it easier for you to manage money, especially bills and payments
  • to do this without comprising on privacy, safety, security*

*i.e. without selling your data to faceless organisations who may use it to sell to you or worse, to build your profile and manipulate you to their advantage.

What does it cost?

All good things come at a price.

To provide this simple payment experience AutoFi charges a monthly fee of Rs. 599.

But to begin with, try our free version. Once you come on AutoFi, you automatically start with the basic version – which is free.

The basic version has most of the features of AutoFi, except the ones that involve making payments. So you can’t

  • pay your bills using AutoFi
  • set auto-receipts or
  • get a reconciliation statement

How do you make my payments?

In the premium version, AutoFi uses ACH to make payments on your behalf. It’s similar to the way you invest in mutual funds or pay EMIs. You’ll find more details when you come to our bot.

Is my money safe?

Yes, your money is safe. Because it goes from your bank account to the AutoFi bank account and finally to the bank account of the person or entity receiving the payment.

Just like your mutual fund investments. The chain of payments is straight-forward and transactions are easily traceable.

Is my data safe?

The short answer is Yes. You should keep two things in mind.

Thing One: Some things can be misused – passwords, PINS, OTPs, CSV numbers, etc. AutoFi does not collect these from you. Other pieces of information like bank account numbers of IFSC codes cannot be misused by themselves.

Thing Two: There are many service providers (wallets and other apps) which are seemingly free. No service is “free”. Your “free” service provider basically sells your data to advertisers, who call you offering loans and insurance products. In return you get cash-backs & free movie tickets.

We charge a fee, and hence don’t need to sell your data to third parties.

We have built an automated system that does not require humans to read your data. There are some points of human intervention to make sure everything works properly. But 99% of the work is done by machines.

Bottom line: We care for your safety and privacy. Our own data is in there. Our mum’s data is in there. We will do everything we can to keep your data safe.

Should both my spouse & I be on AutoFi?

That depends.

If both of you pay bills, then yes, you should open separate accounts. And onboard your respective billers.

Note: if you make payments for your parents or your small business from a different bank account, please write to us.

How do I start?

Download the Telegram app and then tap here.

Start using our free version by adding your billers.

How do I stop a payment or cancel NACH mandate?

In line with NPCI directives, you can place an online request to cancel your NACH mandate or to stop payments against mandates by using the form below: