Traderji.com - Discussion forum for Stocks Commodities & Forex


How to close ICICI demat account

Discuss How to close ICICI demat account at the Investors Grieviences within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi, I am currently in US for 4 months, and will stay here for some ...


Go Back   Traderji.com - Discussion forum for Stocks Commodities & Forex > TOOLS & RESOURCES > Investors Grieviences

Investors Grieviences Discuss your personal grieviences and frustrations with stock market intermediatories like brokers, registrars, bankers, etc.


Reply
 
Thread Tools
  #1  
Old 18th December 2008, 10:51 PM
Member
 
Join Date: Dec 2008
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
arunesh is on a distinguished road
Default How to close ICICI demat account

Hi,

I am currently in US for 4 months, and will stay here for some years atleast. I hold an ICICI Demat account in India with some significant number of stocks. I submitted an address change (new address was my ancestral home in India) for that account before I left India, the documents for which ICICI has lost. Also the ICICIDirect website sucks.
My questions are
1. Can I just close the account and get the shares on paper (I have heard ICICI makes life painful here)
2. Can I open a new sharekhan account and transfer shares to that and close the ICICI account ? (I will be an NRI in few months - so I am not sure if I can trade anymore)
3. Even if I cannot trade because I will be an NRI - can I just hold the shares and get divident on that

Thanks for any reply



Reply With Quote
Sponsored Links
  #2  
Old 18th December 2008, 10:55 PM
learn2trade08
Guest
 
Posts: n/a
Default Re: How to close ICICI demat account

tell me about it bro,those m*r*ns couldnt issue me a debit card pin number for 3 years while i was abroad,neither were they ready to close the account.


Quote:
Originally Posted by arunesh View Post
Hi,

I am currently in US for 4 months, and will stay here for some years atleast. I hold an ICICI Demat account in India with some significant number of stocks. I submitted an address change (new address was my ancestral home in India) for that account before I left India, the documents for which ICICI has lost. Also the ICICIDirect website sucks.
My questions are
1. Can I just close the account and get the shares on paper (I have heard ICICI makes life painful here)
2. Can I open a new sharekhan account and transfer shares to that and close the ICICI account ? (I will be an NRI in few months - so I am not sure if I can trade anymore)
3. Even if I cannot trade because I will be an NRI - can I just hold the shares and get divident on that

Thanks for any reply
Reply With Quote
  #3  
Old 19th December 2008, 12:09 AM
Member
 
Join Date: Apr 2007
Posts: 461
Thanks: 40
Thanked 142 Times in 70 Posts
fast_rizwaan has a spectacular aura aboutfast_rizwaan has a spectacular aura about
Default Re: How to close ICICI demat account

Quote:
Originally Posted by arunesh View Post
Hi,

I am currently in US for 4 months, and will stay here for some years atleast. I hold an ICICI Demat account in India with some significant number of stocks. I submitted an address change (new address was my ancestral home in India) for that account before I left India, the documents for which ICICI has lost. Also the ICICIDirect website sucks.
My questions are
1. Can I just close the account and get the shares on paper (I have heard ICICI makes life painful here)
2. Can I open a new sharekhan account and transfer shares to that and close the ICICI account ? (I will be an NRI in few months - so I am not sure if I can trade anymore)
3. Even if I cannot trade because I will be an NRI - can I just hold the shares and get divident on that

Thanks for any reply
1. i think you need to be physically here to convert shares (remat-arialize) on paper. because they'll need your signature in front of the executive/officer.

2. same with transfer to other accounts - need your signature in the presence of the officer.

3. Yes, you will get the dividend, as your name/bank account is provided to the company as beneficiary. dividend will be credited to your bank account directly. only notifications will be sent to the address provided.

icicidirect provides online trading, using internet access / online interface you can trade. nobody will ask you whether you are an NRI or not.

If you want to transfer your shares, do, open NRI/other account and buy the same shares there. sell the stocks at icicidirect.com, as converting and trasferring will be a hassle.
Reply With Quote
  #4  
Old 22nd December 2008, 09:40 PM
NOMINDTR's Avatar
Member
 
Join Date: Jan 2008
Posts: 647
Thanks: 248
Thanked 264 Times in 138 Posts
NOMINDTR is a jewel in the roughNOMINDTR is a jewel in the roughNOMINDTR is a jewel in the rough
Default Re: How to close ICICI demat account

Quote:
Originally Posted by arunesh View Post
Hi,

I am currently in US for 4 months, and will stay here for some years atleast. I hold an ICICI Demat account in India with some significant number of stocks. I submitted an address change (new address was my ancestral home in India) for that account before I left India, the documents for which ICICI has lost. Also the ICICIDirect website sucks.
My questions are
1. Can I just close the account and get the shares on paper (I have heard ICICI makes life painful here)
2. Can I open a new sharekhan account and transfer shares to that and close the ICICI account ? (I will be an NRI in few months - so I am not sure if I can trade anymore)
3. Even if I cannot trade because I will be an NRI - can I just hold the shares and get divident on that

Thanks for any reply
Before closing you must transfer your holdings to the other broker (once you open the account with other broker) by TIFD

You can get physical form and you have sign and send it to any ICICI branch which has a demat desk.

Finished


Reply With Quote
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT +5.5. The time now is 01:24 AM.

Indemnity, Disclaimer & Disclosure Notice:
By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

Recommended Websites - www.TradersEdgeIndia.com - www.TradingPicks.com - www.MasterOfTrading.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247