Beeline NRI Account Review


Beeline Broking is an online discount broker offering NRI trading services. The company offers a 2-in-1 account to NRIs to invest in equities, IPOs, mutual funds and bonds.

Beeline offers 3rd-party trading software to NRI and resident investors. It offers NSE Now and ODIN trading platforms including an install-able trading terminal and a mobile trading app for NRIs. The facilities such as funds transfer, requesting payouts, etc are available on a real-time basis.

Beeline also offers Call & Trade services to NRIs to enhance their trading experience. The broker provides daily direct mailer services wherein NRIs get research insights on stocks, economy and market conditions.

Beeline Broking also allows US and Canada based NRIs to invest & trade online through its online trading platform.


Beeline NRI Account

Beeline Trading Account Prerequisites

Here are the accounts to open before opening NRI trading and Demat account with Beeline Broking-

1. PAN Card

NRIs must have a PAN number to trade and invest in Indian Stock Exchanges. If you don't have a PAN Card, you can apply online by filling up Form 49AA through the websites of UTIITSL and NSDL.

Note- The PAN card is the same for NRIs and Resident Indians. If you already have a PAN Number as resident Indian, you do not need to get a new PAN number.

2. NRI Bank Account

Beeline allows NRIs to trade and invest through the NRI SB account with HDFC/Axis Bank. If NRIs already have an NRI Bank account with HDFC/Axis, they can link the account with the trading and Demat account of the broker.

3. PIS Permission

NRIs who want to invest in the Indian stock market has to take prior permission from RBI. With the help of HDFC/Axis Bank, you can request for the PIS permission.


Beeline 2-in-1 NRI Account

Beeline offers a 2-in-1 account for non-resident Indian investors including NRI Demat and trading account. Details on the Beeline NRI accounts:

1. Beeline NRI Demat Account

Beeline offers a depository account with NSDL for resident and NRI clients. Demat account safeguards the securities purchased by investors similar to a bank account safe keeps the money. The securities in the Demat account are held in electronic format.

Beeline NRI Demat Account Highlights:

  • Demat Account is mandatory in India to keep securities in electronic format.
  • The account opening process of the Demat account is the same for resident and non-resident Indian investors.
  • While account opening, you have to choose account type as 'NRI' and subtype as 'Non-repatriable or repatriable.'
  • NRI can have a nominee for the Demat account.
  • Dividend and interest are automatically credited in the demat account linked NRI bank account.
  • Demat account can be of NRE and NRO type.

Note:

2. Beeline NRI Trading Account

NRIs can place buy and sell requests through the trading account. When NRIs open trading account with Beeline, the investing process becomes easy for them. With the trading platform offered by Beeline, you can check the performance of the securities online at any time.

Beeline Broking NRI Trading Process

Once you have opened all the accounts needed to trade then you can place buy/sell order requests online by using any of the Beeline trading platforms-

1. Preparing Funds

Deposit funds in the HDFC/Axis NRE PIS Bank Account which is linked to the trading account. Once funds are available, the bank informs the broker about this. The broker now increases the trading limits for the customer.

2. Place Online Order

By login through the NRI trading account, non-resident Indian investors can place buy or sell requests online. After receiving the request, the system checks the availability of funds or shares in the respective account. If everything is correct, the order is executed on the stock exchange.

3. Fund Settlement

Based on buy or sell order, the Demat account is credited or debited with shares. Opposite to it, the HDFC/Axis NRI bank account is debited or credited for buy or sell order, respectively.

4. Reporting to RBI

At the end of the day, the broker informs the bank regarding the buy and sell transactions separately in two contract notes. Further, the bank reports RBI regarding the transactions done by the NRIs.

Note: NRIs are not required to report RBI for transactions made under the equity derivatives segment.


Beeline NRI Trading Account Charges

Beeline NRI brokerage charges for trading in Equity and Equity Derivatives.

TransactionFee
NRI Account Opening Charges₹876
NRI Account AMC₹0
Equity Delivery Brokerage0.40%
Equity Future BrokerageNA
Equity Options BrokerageNA
Other Charges

Beeline NRI Trading Software Review

The online trading platforms offered by Beeline Broking include:

  1. NSE NOW(Installable trading terminal, Website and Mobile App)
  2. ODIN (MY ARMOUR) (Installable trading terminal only)

Read more about Beeline Broking Trading Platform Review.

Beeline Broking Mobile Trading App (NSE NOW)


Beeline Investment Options

The investment options available to an NRI at Beeline.

Investment OptionStatus
StocksYes
Mutual FundsYes
IPOYes
Others

Beeline NRI Account Opening Process

Beeline Broking offers offline account opening to NRI customers. Here is the process of opening the NRI Demat and trading account with Beeline:

  • Get the PAN Number.
  • Open the NRI bank account with HDFC or Axis bank.
  • Get PIS permission from RBI with the help of the bank.
  • Download the trading and Demat account opening application form from its website.
  • Print it, fill it and sign it.
  • Collect the documents required for opening trading and the Demat account. Do self-attestation for all the documents.
  • Get attestation done from the competent authority in the country where NRI resides.
  • Send the forms to the Beeline Broking Ahmadabad office.
  • After receiving the documents correctly, the broker will arrange a representative from the local or overseas office of the broker for in-person verification (IPV).
  • As the process completes successfully, Beeline Broking Ltd will provide a login Id and password.

If IPV is not possible due to some reasons, the copy of documents notarized by the Indian Embassy/ Consulate General, Magistrate, Local Banker, Judge, Any Court, Notary Public of the residing country is also permitted.

Beeline Documents for NRI account opening

Here is the list of documents to submit for opening the NRI trading and Demat account with Beeline.

  • Indian Passport (valid passport and place of birth as Indian)
  • Valid Visa (Work/Student/Employment/Resident Permit)
  • Copy of PAN Card
  • Foreign Passport (Place of Birth as India in Foreign Passport)
  • Copy of PIO/OCI Card if applicable
  • PIS Permission Letter
  • Overseas address (utility bills/ bank statement (not more than 2 months old)/foreign passport /Notarized copy of Rent Agreement/ driving license/ Leave & License Agreement/ Sale Deed.
  • Photograph of Investor.
  • Proof of Bank & Depository Accounts

Beeline Key Features

FeatureStatus
3-in-1 AccountNo
Free Research and TipsYes
Automated TradingNo
Other Features

Beeline NRI Mutual Fund

Beeline broking offers online Mutual Funds to its customers. The online Mutual Fund investment is not part of its trading platform. A separate login id/password has to be maintained to invest in MF with Beeline.

Beeline Broking doesn't have its own Mutual Fund investment platform.


Beeline NRI Customer Care

Beeline NRI Support Desk contact information. Find Beeline NRI contact number.

Beeline NRI HelplineNumber
Beeline NRI Customer Care Number079-66664040
Beeline NRI Customer Care Email IDconnect@beelinebroking.com

Beeline NRI Trading Account Advantages

  • Offer NSE NOW and ODIN trading platform.
  • Beeline charges lower brokerage than full-service brokers.
  • Provides technical and fundamental analysis.

Beeline NRI Trading Account Disadvantages

  • Doesn't offer NRI's Equity Derivatives (F&O) trading.
  • Doesn't offer AMO (After Market Order) and GTC (Good Till Cancelled) order.
  • It has only one office which is located at Ahmedabad.

Conclusion

Beeline Broking, an Ahmadabad based online stock broker doesn't provide any details about its NRI services on its website or over the call. The broker doesn't offer the facility to trade and invest in equity derivatives for NRIs. The company doesn't seem interested in NRI clients.


Beeline Special Offer

Frequently Asked Questions

  1. 1. How to close my account with Beeline Broking Ltd?

    Here is the process of transferring and closing your account with Beeline Broking:

    • Visit the Download section of its website.
    • Download 'Account Closure Request Form'
    • Take a printout, and fill it with DP Id, Client Id, name, address, etc.
    • Mention the reason for closing the account.
    • Sign the closure form.
    • If Demat account has holdings, then fill DIS (Delivery Instruction Slip) before account closing.
    • Submit the form to the broker's office. It will take 7 to 10 working days for account closure.

     

  2. 2. Is IPV compulsory to open an NRI account with Beeline Broking Ltd?

    Yes, IPV is a compulsory process to open an account. The IPV is completed by a representative from the broker.

    If IPV is infeasible for NRI from the broker's side, attested copies of documents by Indian Embassy/ Consulate General, Notary public, Judge, Local Banker, Any Court in the residing country are also allowed.

    IPV can be performed by an employee, sub-broker, and relationship manager of Beeline Broking Ltd.

     

  3. 3. How can I modify my details in broking account with Beeline Broking?

    NRIs have to fill an Account Modification Form which is available at the official website of Beeline Broking. You can also send account modification-related queries to Demat@Beelinebroking.Com.

    Through the form, the NRIs can update contact, address details, etc. After filling the form with the required information, send it to the operations office of the broker.

     

  4. 4. Does Beeline offer mutual fund and IPO investment services?

    Yes, Beeline broking provide the investment platform for mutual fund and IPO. The broker also provides investment-related information on such segments.

    Although, it doesn't offer mutual fund research reports and tips.

     

  5. 5. Can I link HDFC NRI SB acc to NRI trading and demat acc in Beeline?

    Yes, you can link the existing HDFC NRI SB account with Beeline Broking NRI trading and Demat accounts.

    To invest through the Beeline Broking trading platform, non-resident Indians must have an NRI SB account with HDFC or Axis Bank. The customers having NRI savings bank account with other banks can keep such account but cannot link them with Beeline Broking NRI Account.

     

Contact Beeline / Request Call Back

Leave your contact information and we will get in touch with you....

Name:Phone
EmailCity
State
Are you a day trader?

Beeline Competitors Review

Information on this page was last updated on Saturday, June 6, 2020


Comments

No comments found. Be the first to post a comment.








Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App