How to close my Paytm Money Demat Account online? I want to discontinue it immediately. Where can I get the Account closure form?

India
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You can download the account closure form the given link - Demat Account Closure Form and post it to the address mentioned in the form.

2

Paytm Money Demat Account

Paytm money is an online brokerage platform that offers Demat account and trading account. Trading account is where you buy and sell your assets, whereas a Demat account is where you hold the bought assets in a dematerialised form.

Within Paytm Money you can trade in shares, ETFs and mutual funds. The Demat account opening and maintenance fee is free of cost with Demat Account.

Here is how you can find the option to close the account:

  • You have to open the Paytm Money site or app.
  • Then click on “product market” and select the option “Stock market”.
  • At the bottom of the page you will find the option “download center”, click on it.
  • On this page you will find lots of forms and request options. Select the “account closure form”.
  • Open the form and fill in the details.
  • After filling the details, check the recipient address and send it to the said address.

Do check that your demat account has no shares or cash balance. If so, transfer it first and then initiate closure.

How to close Paytm Money Demat Account?

You are not required to pay any account closure fee to cease using your Paytm Money Demat Account. Although Paytm is completely online, you cannot close its account in just a click.

You will be able to find the account closure request form in the Download Center of Paytm Money website. The link to the download Center is - Demat Account Closure Form

You are required to fill up the following important details:

  • Depository participant ID
  • 16 digit customer ID
  • Date
  • Name of the account holder(s)
  • Address
  • Reason for closing your Demat Account
  • How to transfer your funds?
  • Where to transfer your funds?
  • If you wish to re-materialise the funds you need to fill and submit the Rematerialisation Request Form (RRF).
  • If you wish to transfer the funds, you need to mention the account details where it needs to be transferred.
  • Signature of the account holder(s)

You are required to fill up the relevant details and send the form to the Sarjapur, Bengaluru address mentioned in the form. If you have any queries, you can raise a complaint in the Customer support section of the Paytm app. Alternatively you can email them at: exg.support@paytmmoney.com

Closing Paytm Money Demat Account

Most people close their Demat account due to inactivity and to avoid paying maintenance fees.

However, it is noteworthy that Paytm Money Demat Account does not charge any inactivity fees or annual account keeping fees. One may close the account for need of funds or for better features, educational tools, research tools or wider range of investment options.

Now, that you have decided to close your Paytm Demat Account, you might be thinking to open a new account with another stock broker.

You can Open an Instant account with Zerodha, the No.1 discount broker in India. Get Started and Enjoy FREE Equity delivery and FREE Mutual Fund Investment.