Comment on Various Types of Accounts

Nithin Kamath commented on 07 Apr 2015, 10:33 PM

1. The purpose of the ECS is to take an authorisation from you to debit your AMC charges once in a period of 6 months. The demat charges may either be debited from your bank account (ECS Authorisation) or from your trading account (Next sheet which iss “Authorisation to debit Demat account operating charges”). Since your trading account’d be with Zerodha, you can choose to sign the Voluntary page and ignore the ECS page.
So no it is not mandatory, if you don’t sign you can ask us to debit it from your trading account with us.

2. To trade F&O, an income proof is required. So you can choose one of the proofs for income, 6 months bank statement is one of them.

3. Yes possible, make sure to send us the snapshot of the transfer once done.

4. Exchange requires us to capture an original proof of your bank account.

5. If you buy a share today as delivery, yes you can sell it tomorrow. If you buy today as an intraday, it gets squared off immediately.

6. If you are trading online, it is required to debit shares from your demat whenever you sell it. Wherever you trade online in India, POA for the demat account has to be given for debiting shares everytime anything is sold.

Best,

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