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Final Check
This document is only for Internal use. Please get in touch with DP Account Closure Team @ 022-40754228 or send email to dp.operations@axisbank.com for any further queries/suggestions.
Check Holdings
Demat Account cannot be closed if there are any securities held in Free balance, Pledged balance, Pending Demat or Pending Remat status. Hence, Current Holdings in the Account need to be checked in DP Secure > Teller Screen. In case there are any securities lying in the Account and the Account Holder(s) wishes to close his account by transferring securities held in his Demat Account to another Demat Account (not necessarily in Axis Bank DP) and does not wish of pay charges applicable for transfer of securities, Account Holder(s) needs to mention Target Account details on the Closure form and submit a Client Master List generated from DPM/CDAS system duly stamped and signed by the target DP. However, it may be noted that such transfer of securities cum closure is applicable only if the name(s) and patter(s) of the account holder(s) are exactly same in the source as well as target account. For Example: Demat Account with Axis Bank DP is in the joint name of Mr. A Khan & Mr. B Khan and Target Demat Account is also in the name of Mr. B and Mr. A. In such a case, waiver of transaction charges shall be applicable. In case target account is NOT IN THE SAME NAME/PATTERN, Account holder needs to transfer all the holdings in the account by either opting for Market/Off-Market Transfer of securities using a DIS or Rematerialisation. For Example: Demat Account with Axis Bank DP is in the joint name of Mr. A Kapoor & Mr. B Kapoor whereas Target Demat Account is held in the name of Mr. B Kapoor and Mr. A.Kapoor. In such a case, waiver of transaction charges shall not be applicable.
This document is only for Internal use. Please get in touch with DP Account Closure Team @ 022-40754228 or send email to dp.operations@axisbank.com for any further queries/suggestions.
This document is only for Internal use. Please get in touch with DP Account Closure Team @ 022-40754228 or send email to dp.operations@axisbank.com for any further queries/suggestions.