In Which segments does ACMIIL open the account?
Equity/Derivatives/Mutual fund/Currency Derivative/IPO
Who can open an account with ACMIIL and What Types of account can be opened?
Individual Category: Individual/Minor/NRI
Non-Individual Category: Proprietary Firm//HUF/Partnership Firm/Corporate/LLP/Trust
How to open a Demat account and trading account with ACMIIL?
ACMIIL is a depository participant – the intermediary between CDSL and you. It is very easy to open a demat and trading account with ACMIIL. Here are the key things that you require:
- Filled application form for opening demat
- Passport size Photographs
- Proof of identity (Driving Licence, Voter’s Id, Aadhar Card)
- Proof of address (Passport, Driving Licence, Voter’s Id, Aadhar Card)
- Copy of PAN card
- Bank proof
Note: All documents should be Self Attested.
What if I already have a Demat account?
ACMIIL DP: KRA/CKYC compliant then provide only Bank proof and other information in context with trading account to be filled in application form.
OUTSIDE DP: KRA/CKYC compliant then provide Bank proof along with client master list of other DP and other information in context with trading account to be filled in application form.
What are the charges to open trading and demat account?
- BOI: 600+GST (18%)
- Invest+: 200+GST (18%) [min-margin : ₹ 1000]
- Syndicate: 400+GST (18%)
What is IPV (In person Verification)?
In person verification refers to the confirmation of physical existence of the person opening account with us and is mandatory as prescribed by SEBI.
What are the documents required to open an account?
The following are the list of documents required:
a. Proof of Identity : Copy of PAN Card
b. Proof of Address : Copy of any one of the following (self attested)
- Ration Card
- Voter’s ID
- Driving License
- Electricity Bill (not more than 2 months old)
- Landline Telephone Bill (not more than 2 months old)
- Bank Pass Book
- Aadhar Card
c. Bank Proof: Copy of Bank Pass Book or Personalized Cheque leaf (For Existing Bank Account Holders Only)
d. Latest Photograph (Single copy)
Note: All documents should be Self attested.
How much time does it take to open an account?
Your account will be opened within T+2 working days on receipt of your completed application form
Do I need to link my Bank account with ACMIIL?
Yes, while account opening Bank proof is required for updating the Bank records in Trading and demat account. This is for ease of movement of funds from you to ACMIIL and vice versa. This would also enable you to get dividends declared (if any) on the stocks held by you in your demat account.
What documents do I receive from ACMIIL once I open an account?
Welcome Kit containing details of your account with us.
What is a Mandate?
A mandate is an authorisation given by you to your bank to debit your account automatically for specified amount on pre specified date
Why mandate is necessary?
This is necessary especially when you have opted for Systematic Investment Plan (SIP) for Mutual Fund, and ensures that your instalment is paid to the AMC when it is due.
What is POA?
A power of attorney or POA is nothing but a written permission or authorisation given by you to your broker to represent you, the client, or act on your behalf in matters specified in the POA.
Here you will be the principal, grantor, or donor of the POA and the broker will be your agent. But remember it is a limited purpose POA where the broker has specific rights as mentioned in the POA for fulfilling pay-in obligations, applying on your behalf for MF, IPO, etc. –
Why POA is necessary?
The Demat account stores the shares that you buy – both online and offline. So, when you buy any share (of course for delivery) it goes to your Demat account. This happens automatically and does not need any intervention . Problem arises when you need to sell them or may be pledge them. An outflow of shares from your Demat account does not happen automatically when you sell them online. This is where a POA is required.
In the absence of a POA, For sale of shares, you will need to sign a delivery instruction slip that has to be submitted to the Depository Participant on time for release of shares from your Demat account for sale.
The process is cumbersome, time consuming and had the risk of option if the instruction slip is not deposited on time. But online broking has made it all easy. But the broker can’t still access your Demat account unless you give them a written authority to do so. This is what the POA does. It gives the broker the authority access your Demat account and release the shares being sold.
Can I register a nominee?
Yes, you can register nominees by filling up the nomination form.
How can I transfer funds to my account?
You can transfer funds to your broking account with us by way of National Electronics Fund Transfer (NEFT) to the account of Asit C. Mehta Investment Interrmediates Limited
Whom to contact for any other Account opening Query?
Customer Service Desk – 022 2858 4545 or e-mail – firstname.lastname@example.org