If you are thinking of closing your Edelweiss Demat Account, then it is necessary to have complete information about it. With the right information, you can easily close Edelweiss account in simple steps.
In the article ‘How to close Edelweiss Demat Account?‘ All the details are given in the answer, and we have covered some important points. For example, the ‘Documents Required for Edelweiss Demat Account Closure‘ and Edelweiss Demat Account Closure Form, along with step-by-step details of the entire process, have been given.
How to close Edelweiss Demat Account?
Currently, no online process is available to close Edelweiss Demat Account. But you can easily close Edelweiss Demat account through the offline process. If the online process of Edelweiss Demat account closure is introduced in the future, you will get the updates here.
How to close Edelweiss Demat Account – Offline:
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- First of all, you will need the Edelweiss Demat Account Closure Form. This form can be obtained by visiting the Edelweiss branch. Or you can call Edelweiss toll-free number 18001023335 and get it delivered to your registered email ID.
- Carefully fill in your details in the Edelweiss Account Closure Form. Ensure you enter the same details in the Edelweiss Account Closure Form as you provided at the time of account opening. Suppose there is any difference in the name or address when opening and closing the account. In that case, you must get your documents certified by a government official or authorized person.
- Documents will be required for KYC.
- Submit the Edelweiss Account Closure Form and KYC documents with all the details to the Edelweiss branch. After this, your account will be closed.
Edelweiss team may take up to 7 days to close Edelweiss Demat Account.
What do you need to know while closing Edelweiss Demat Account?
When you go to the Edelweiss branch to close Edelweiss Account, you will be asked for your paperwork and other information pertinent to your situation, so be sure to bring it all with you.
- DP ID of Edelweiss Demat Account
- Client ID of Edelweiss Demat Account
- All KYC Documents, along with Edelweiss Demat Account Closure Form
- If more than one person owns the account, everyone’s signature
- If you are aware of all these, then you can easily get your Edelweiss account closed.
What to do if there is a balance in Edelweiss’s account?
When you initiate the process for closing your Edelweiss account, there should be no balance in your account. If you have any securities, your account will not be closed. That’s why, if you have any balance in your account, you must transfer that balance to another account. Only after that will your account be closed.
- Fill out the DIS slip and submit it to Edelweiss.
- CML will be required along with the account closure form
- After this, the broker will forward your DIS or request to the depository.
- After this, your depository will transfer your shares to another demat account.
- Most brokers again complete this process within a few minutes, but it can also take a few hours.
Some important points related to the closure of the Edelweiss account
- Remember that there should not be any balance in your account, and if so, transfer your balance to another account.
- ISINs are IDs of shares of any company. Expired ISINs are not traded in the stock market. If you have an account with such ISINs, dematerialize your shares and only initiate closing your Demat account.
- If you do not have any other demat account to transfer your securities, you can sell the securities and transfer the money to your savings account or current account.
- If there is any outstanding payment to pay, related to your demat account, you have to deposit the same.
FAQ
How can I get the Edelweiss account closure form?
To close Edelweiss account, you have to submit the physical copy of the Edelweiss account closure form, so you can get this closure form from Edelweiss Branch. You can also get this closure form by calling Edelweiss toll-free number 18001023335. They will send the Edelweiss account closure form to your registered email ID.
Required documents to close Edelweiss account?
While closing the Edelweiss account, it must be kept in mind that you do not have any holdings in your account, and if so, you need to transfer your holdings. And with that, you will need an account closure form in which you have filled all the details and KYC documents.
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How many days it will take to close Edelweiss’s account?
Your demat account will be closed within seven business days of you submitting the application to close Edelweiss demat account and processing the closure request.
Edelweiss demat account closing charges?
There are no charges for the closure of the Edelweiss Demat account. But if any kind of dues exists then you have to pay the same.
Can I close my demat account without visiting the Edelweiss branch?
Yes, in case there is no Edelweiss branch near you, you can post your Edelweiss account closure form to the Edelweiss branch along with all the required documents.
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Conclusion
Edelweiss Demat account clossing process is straightforward. Account holde have to follow the simple steps. But, Ensure that all outstandings are cleared and no stocks are present in the account.By following the steps in the guide about ‘How to close Edelweiss Demat Account‘ account holders can easily close their Demat account.
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