HSBC Bank Demat Account Opening Procedure

Name of the Organisation : HSBC Bank (hsbc.co.in)
Type of Facility : Demat Account Opening Procedure
Location : India

Website : http://www.hsbc.co.in/1/2/homepage

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HSBC Demat Account :
As a depository participant, we offer you HSBC Demat Accounts, armed with a range of services.

Demat Account Features & Benefits :
** You can purchase, hold and sell shares in electronic form
** Get transaction statements as and when you transact on Monthly basis & your Holding statement on a yearly basis, showing current portfolio of shares
** As an NRI, you can easily dematerialise your portfolio of shares in India with us*
** You can save time with quick transfers
** Say goodbye to risk of loss, theft or mutilation of shares
** Now, stop worrying about bad deliveries, forgeries and duplicate share certificates
** You can now avail the Basic Services Demat Account offerings of the bank

Eligibility :
** Individuals shall be eligible to opt for Basic Services Demat Account (BSDA) subject to the following conditions
** All the individuals who have or propose to have only one demat account where they are the sole or first holder.
** Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.
** The individual shall have only one BSDA in his/her name across all depositories.
** Value of securities held in the demat account shall not exceed Rupees Two Lakhs at any point of time.

Services for Basic Services Demat Accounts :
a. Transaction statements :
i. Transaction statements shall be sent to the BO at the end of each quarter. If there are no transactions in any quarter, no transaction statement may be sent for that quarter.
ii. If there are no transactions and no security balance in an account, then no further transaction statement needs to be provided.
iii. Transaction statement shall be required to be provided for the quarter in which the account became a zero balance account.

b. Holding Statement :
i. One annual physical statement of holding shall be sent to the stated address of the BO in respect of accounts with no transaction and nil balance.
ii. One annual statement of holding shall be sent in respect of remaining accounts in physical or electronic form as opted for by the BO.

Option for existing customers :
Existing eligible individuals can convert their demat account into BSDA on the date of the next billing cycle based on value of holding of securities in the account as on the last day of previous billing cycle.

Do’s and Dont’s :
** To open and operate your demat account, a Self attested copy of PAN card of all account holders should be mandatorily submitted . The requirement for submitting the original PAN card for verification can be waived provided that all the accountholders submit the necessary documents for Proof of Identity other than the PAN card.
** The demat account has a nomination facility and it is advisable to appoint a nominee to facilitate your heirs in obtaining the securities in your demat account, on completion of the necessary procedures.
** Intimate any change of address or change in bank account details to us within seven days
** Register for Internet-based facility to monitor your demat account yourself
** In order to receive all the credits to your demat account automatically; you can give us a one-time standing instruction.
** Before granting Power of Attorney to anyone, to operate your demat account, carefully examine the scope and implications of powers being granted.
** Verify your transaction statement carefully for all debits and credits in your account. If any unauthorised debit / credit is noticed, customer should immediately inform us in writing. An email may be sent to us at retaildematqueriesinm AT hsbc.co.in
** While accepting the Delivery Instruction Slip (DIS) book from us, ensure that your client ID is pre-stamped on all pages along with the serial numbers.
** Keep your DIS book safely and do not sign or issue blank or incomplete DIS slips.
** For market transactions, submit the DIS ahead of the deadline. DIS can be issued with a future execution date.
** Strike out empty space, if any, in the DIS, before submitting

For More Details, Click Here : http://www.hsbc.co.in/1/2/personal/bank-accounts/demat-account

Helpdesk :
For any queries or clarification on Demat accounts, please write to us through secure internet banking. Alternatively, you may write to us at retaildematqueriesinm@hsbc.co.in. In case of any grievances that you may have, please refer to our grievance redressal policy.