How do I close my ICICI direct trading and Demat account? Also, how can I transfer my existing stocks to Zerodha?
Dear,ICICI has Demat closure form which you need to fill up by visit nearby branch and your demat account will be closed.Below is the link where you can download the form:https://www.icicibank.com/manage...For share transfer to Zerodha you need to open account first:Open an online trading and demat account with Zerodha and enjoy the lowest brokerageAfter opening up the account, Zerodha will send you CMR(Client Master Report) with Seal and Sign.After you receive it, you need to take the CMR to your existing Brokerage house, then they’ll provide you with DIS which you need to fill up then and there. Rest of the procedure will done by existing Brokerage house( ICICI Direct in your scenario). Charges as per existing brokerageNote: Zerodha won’t charge anything for shares transfer.After T+2 working days your shares will reflect in your Zerodha holding.Hope this was helpul.Thank You
How to allocate shares for selling on ICICIDIRECT?
Assuming you bought the stock today, it would get credited in your DEMAT only on Thursday unless are doing margin trading or you have traded in BTST category. Once the account is credited with MTNL shares, go to DEMAT allocation and choose Auto Allocate or manually allocate shares. That way the stock will appear in your DEMAT holdings list and you can sell them from there.! Hope this helps
How to see the shares I have in my demat account in icicidirect?
I hope you know how to log in to ICICI direct. Having logged in. Choose trading--> choose equity--> choose--> demat allocation. You will be able to see shares purchased by you standing to the credit of your demat account. Alternatively, you have to log in to ICICI bank account and choose demat option to see your demat holding.
I want to close my icici bank account in india?
When there is a negative balance, it will be closed only after the due amount is paid. But why do you bother. Just leave that account and forget it. They cannot collect the negative balance from you as it is not a credit payment. The negative balance is due to insufficient minimum balances. Every quarter they charge Rs.750+ Service charges which comes to around Rs.850 for not maintaining minimum balance. This way the negative balance go up and up. Just forget the account. That is all. You need not close the account. One day they them self will close the account automatically. Do not reply for their notices if any.
How do I close my ICICI demat account?
Hi Yunoth,I understand you want to close your Demat account.There are two conditions for closing the account.First, you should have no shares in the account. You have two ways to remove them from your account, without selling off them anywhere. Either you keep them in an account of someone else you trust, or get them back in paper form again. Getting the shares back in paper form is called re-materialization. If you choose it, you will have to get the shares again in de-materialized form when you decide to sell them.Second, condition for closing the account is that you should not have any debit amount against your account. If you transfer the shares to any other account, that will attract transfer charge. If you re-materialize them, that will also attract some charge. Moreover, you will also have some amount debit towards the annual maintenance charge. So, ask your DP (ICICI, in this case) how much you owe to them. Clear the due, and close the account.Read the article on Economic Times: How To Closing Demat Account?Hope this helps!
How do I close trading and a Demat account?
Closing a Demat account and a trading account may be done due to several reasons. The main reason being that many would want to move to a better Demat account that provides better services, charges, and convenience.Process of closing a Demat accountSubmit a form to the nearest branch of your depository participant (DP). This form can be easily downloaded and filled. It has a couple of mandatory details that need to be filled by you. Some of them include the DP ID, client ID and your updated name and addressReason for your decision to close the Demat account. This could be anything from you quitting the sharemarket to you choosing another depository participant. The only person who can sign this form is the account holder. A POA holder cannot sign itMake sure that there is no balance of shares in your account. If there are any, then you will have to either transfer, sell or remat itThere must also be no negative balance in your account in terms of cash as you could incur charges if you fail to pay the due Annual Maintenance Charges or past transaction charges. This is more like a no-dues form, which unless fulfilled, will be rejectedThe normal time required to complete this process is about 7-10 business days. There are no charges applied for closing a Demat account. However, if there is a transfer or transaction that needs to be done, then there is a chargeable fee for the same
Is the ICICI direct demat account any good?
I have been a customer with ICICI direct for the past 5 years and have found their services very good.The various options available for stocks, mutual funds, Insurance products are very user friendly.The technical charts and reports updated on a daily basis provide users an useful inputs for trading and investing.The withdrawal options available are easily navigatable and are executable.The site provides a variety of tradable segments in Currency, futures, equity, mutual funds etc.Suer ICICI bank is equally good on the savings account and they are helpful when I approach them at the bank. The services at the bank is also quick as I do not get delayed much and the work moves on quickly.The online banking is also helpful and when ever I place a My savings account is with ICICI Bank and the services and response has been very much appreciative for the banking alone. May be because I use the online banking more and most of my transactions are done through my mobile.It is the best for banking. for a cheque book or for any other product, it is done on time.Icici direct charges me 0.55% brokerage which is highest in indian market so i open my demat account with Zerodha. Zero brokerage on all Equity Investments (stocks,mutual funds)Low brokerage pricing for online trading from India's cheapest brokerage. Flat Rs 20 per executed order with ZerodhaHappy Investing :)Regards,Priya Kapur
How do I close a Demat account?
Hi,To close a demat account, you have to ensure two thing -First and foremost there should be no shares lying in the demat account that you looking to close. If there are shares lying in the account, you have to sell them or transfer them to some other account or remat them (get them back in physical form).No negative cash balance in your account. Negative cash balances may arise due to non-payment of annual maintenance charges or past transfer charges not paid up. If you request for an account closure without settling the negative balance, the depository can reject your application.If your qualified with the above two points, you can close the demat accont.How to close the demat account?Depository participants(DP) have a closure forms that you have to fill, sign and post it to them or drop at there local branch.Once this formalities are completed, it takes 2 -3 business days to close your demat account.——————STOP PAYING PERCENTAGE BROKERAGE —-—————-At Zerodha, all stock investments are Free & a maximum of Rs. 20 is charged for Options, Futures, Commodities & Currencies per executed order .Charges:Equity & Mutual fund Investment - Zero BrokerageF&O and Commodity Trading - 0.01% or Rs 20 which ever is lower per order.Click here to open account in 2mins: OPEN ONLINE ACCOUNT
ACCOUNTING Plz help me. I'm really in a hurry.?
Mechanic Parts was organized on May 1, 2009, and made its first purchase of merchandise on May 3. The purchase was for 1,200 units at a price of $7 per unit. On May 5, Mechanic Parts sold 720 of the units for $11 per unit to Radica Co. Terms of the sale were 2/10, n/60. Prepare entries for Mechanic Parts to record the May 5 sale and each of the following separate transactions a through c using a perpetual inventory system. Date General Journal Debit Credit May 5 ACCOUNT RECEIVABLE SALES May 5 COST OF GOODS SOLD MERCHANDISE INVENTORY (a) On May 7, Radica returns 251 units because they did not fit the customer's needs. Mechanic Parts restores the units to its inventory. Date General Journal Debit Credit May 7 SALES RETURNS AND ALLOWANCES ACCOUNTS RECEIVABLE May 7 MERCHANDISE INVENTORY COST OF GOODS SOLD (b) On May 8, Radica discovers that 60 units are damaged but are still of some use and, therefore, keeps the units. Mechanic Parts sends Radica a credit memorandum for $180 to compensate for the damage. Date General Journal Debit Credit May 8 SALES RETURNS AND ALLOWANCES ACCOUNTS RECEIVABLE (c) On May 15, Radica discovers that 72 units are the wrong color. Radica keeps 43 of these units because Mechanic sends a $92 credit memorandum to compensate. However, Radica returns the remaining 29 units to Mechanic. Mechanic restores the 29 returned units to its inventory. Date General Journal Debit Credit May 15 SALES RETURNS AND ALLOWANCES ACCOUNTS RECEIVABLE May 15 MERCHANDISE INVENTORY COST OF GOODS SOLD I really don't understand... Please help me....