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Q For whom is this applicable to?AThis is applicable to online trading customers.
QIs it necessary to open bank accounts with designated banks? What is the advantage of opening an Internet-banking account with your banking partners?AYes. It is necessary that you open a bank account with our designated banks - Citibank, HDFC Bank, AXIS Bank, Kotak Mahindra Bank, ICICI BANK, State bank of India, Indusind bank, INGVysya bank.
Faster credits, smooth flow of transactions and early commencement of trading are the advantages you will enjoy. You can transfer funds online and start trading. Further, if we have to make a payment to you, funds can be credited to your bank account directly.
QWhat if I am an existing account holder with your banking partner?AThat's great! You can utilize the same bank account to transact with Kotak Securities.com. Please mention the account details on the Account Opening form
QWhat if I have an account with a bank other than your banking partners?ASorry! Your bank account with any other bank will not be useful to us in your dealing with us. We request that you open a banking account with any one of our banking partners. This will enable smooth and fast transactions and ensure faster payments without any delay like that associated with cheque clearance.
Q What is the procedure for updating your existing bank details to Kotak Mahindra Bank Account?ATo update your bank details in the trading profile, we request you to call on our customer care number 30305757/1600222299or post a Query in Solve Your Queries form (Under the heading Account opening/maintenance) and kindly mention your Kotak Mahindra Bank Account number.
To update your bank details in the DP profile, we request you to kindly send the following:
1) Letter, duly signed by all the account holders, with the request to change the bank details mentioning the new account number.
2) Cancelled cheque leaf of the new bank account.
Kindly send the above-mentioned documents at the following address:
The Head- Customer Service Department,
Worli, Mumbai -400 025
Why Demat Account?
- Mandatory by SEBI
- Easy Portfolio Management
- Security of Equity Investments.
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