Types of Demat Account Closures
1. Transfer and Account Closure: This is when you have pending securities on the account that need to be transferred to another account.
2. Account Closure: This is a direct account closure procedure picked when the Demat account is inactive and has no pending holdings or transactions.
To close your account online , log in to https://www.pesb.co.in/ and follow the steps below.
1. Click on Modify an Account & Enter your Client Code
2. Click on Account closure
3. Click on Get OTP
4. Enter the OTP sent on your Mobile to Verify Mobile Number
5. Enter the OTP sent on your E-mail to Verify E-mail
6. Click on the Closure Tab
7. Upload signaure on plain white paper.
8. Upload digitally signed PDF client master copy(CMR)
9. Enter the reason for closure
10. Click on “Submit and Proceed with Closure” Button
11. Click on “Continue for Digital Signature” Button
12. Click on Disclaimer provided on the E-sign Page
13. Enter the Aadhar Number
14. Click on “Send OTP” Button
15. Enter the OTP received from Aadhar on your mobile number
16. Click on “Verify OTP”
17. We will process the closure request within 5-7 business day to close the account.
PLEASE NOTE :
1. If the closure request is rejected, we will restore login access to back office and front office software.
2.You will not be able to restore a closed account. You will have to OPEN NEW ACCOUNT and completing the signup process Once again.
3.You may not be able close your account,(in case following circumstances) if there are securities and mutual fund balance lying in your Demat Account. -> You are required to transfer such securities & MF Balances in new demat account. If you don’t’ wish that then You have to SELL/REMAT/RESTATEMENTISE the Securities and MF Units.
4.If there is open position -> You have to close /Square off the position.
5. If there is debit balance or outstanding dues -> You have to clear such debit or outstanding dues before closing the account.
6. In case there is credit balance in your account, the same shall be transferred in your registered bank upon closure of your account.
7. Please select reason for your account closure