Open Account (Offline)
PROCESS TO OPEN DEMAT & TRADING ACCOUNT OFFLINE -
This is the traditional method we have all followed for a long time before online KYC Aadhar authentication was permitted by SEBI.
Therefore in order to open the account offline, you can either call for a representative from the Stock Broker / Depository Participant office to visit you or you can go to the Stock Broker / Depository Participant's office for account opening. Here are the steps to follow for Demat & Trading account opening.
- Fill out the Demat / Trading account opening application form and attach Proof of Identity and Proof of Address and proof of bank account and demat account and also relevant financial income proof. These proofs can be photocopies of appropriate documents, but it is mandatory to carry the originals with you for spot verification.
- The next step is to execute the mandatory documents with your Stock Broker / Depository Participant. It outlines your responsibilities and rights as a trader / investor as well as where you stand vis-à-vis your Stock Broker / Depository Participant. This is an important document for future reference.
- Stock broker/ Depository Participant shall conduct an IPV of the investor and if the client is staying outside the local area then the verification can take place through online mode.
- Then the stock broker/ depository participant verifies the documents and upload KRA and CKYC of the client if found fit in all aspects.
- The stock broker/depository participant after satisfying with the document in all respects will allot UCC/BOID to investor
- The next step is to upload the UCC file from the back office after allotting UCC/ Beneficial owner Identification number ( or BOID).
- After upload of the UCC/BOID the exchange will approve the account and once the same in validation then the accounts become active for ready.
- The process way take time from 5-7 days before one can start trading in the Account.