Comment on Various Types of Accounts

ICICI Direct commented on 06 Aug 2014, 12:53 AM

I have been watching the Zerodha z-connect for a few years now. I have a 3-in-1 account with ICICI (trading, demat and bank account). I understand that if I open a Zerodha trading account, I can link my ICICI demat account to it and have all my buy transactions deposit the shares into my ICICI demat account. On the sell side, you have been saying *for a long time* that it would have to be done from the other provider, which in my case is ICICI Direct. The main reason I am looking at Zerodha is to save a lot on brokerage because ICICI Direct charges a minimum of 0.55%, which is quite high.

Do you have any time line or a proper plan to provide sell-side support for other demat accounts through Zerodha, either through a PoA executed in favor of Zerodha or some other means (Speed-E)? I have seen people asking this of you for a long time, but there’s no change at all and it has been pending for way too long. This is a huge barrier for me to switch to Zerodha. On the other hand, if you’re able to provide this now, how does one apply for it (what documentation, process, etc.)?

View the full comment thread »