Espresso Sharekhan Demat Account Charges, Review, Opening

Espresso Sharekhan Demat Account Opening Charges

To open a new Demat account with Espresso Sharekhan, the customer may have to pay Demat account opening charges. The broker may also charges Annual Maintenance Charges (AMC), a yearly fee to maintain the Demat account.

Espresso Sharekhan Demat Charges

Espresso Sharekhan trading and demat account opening charges are Rs 354. Espresso Sharekhan charges Rs 400 per year demat account AMC. Espresso Sharekhan demat debit transaction charge of Rs per debit transaction.

1. 1. What is the Espresso Demat account?

   Espresso offers a 2-in-1 account combining a trading and a Demat account. This Espresso account allows investors to invest/trade in stocks, equity derivatives, currency and commodities.

   A demat account is like a bank account but instead of holding money, it holds securities like shares, mutual funds etc. in electronic format. The demat account makes online share trading fast, safe and convenient.

   Espresso demat account is a CDSL Demat Account. Espresso's parent company Sharekhan is a depository participant of CDSL. It works as an agent to serve the demat account which is opened with the CDSL.

   Espresso demat account can be accessed online using its website and mobile app. It can also be accessed by creating a login on CDSL website.

    

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2. 2. Is the Espresso Demat account safe?

   Espresso Demat account is as safe as any other Demat account in India. Espresso is a SEBI registered broker having depository membership with CDSL.

   • Technically a demat account is opened with a depository participant CDSLor NSDL, one of the government-approved depositories. Brokers like Espresso (Sharekhan) work as service agents who help open the demat account and later service the account. They have limited access to the demat account.
   • For every transaction in the Demat account, the customer gets SMS and Email alerts.
   • You could register to the CDSL website and access your demat account holding at any time.

    

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3. 3. What are debit charges in Espresso?

   Espresso charges Rs 13.5 per debit transaction fee for Demat account debit trasnactions. This fee is also known as DP charges. While Espresso offers brokerage-free equity delivery trading, every time you sell a share (that is withdrawn from your Demat account), you have to pay the DP debit transaction fee of Rs 13.5.

    

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4. 4. How to check the Espresso Demat account?

   You can check the details of your Espresso Demat account by logging on to the Espresso App or the Espresso web account.

   Steps to check the Espresso Demat Account

   1. Log in to your Espresso account.
   2. Click on Profile.
   3. Check your DPID/Demat Account details on the Trading profile page.

    

   DPID or Demat account number is a unique number allocated by the Depository Participant in India to each Demat account holder.

    

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5. 5. What is the Espresso Demat account number?

   Espresso Demat account number is a 16-digit number combining the Espresso CDSL DP ID of 8 digits and your BO ID of 8 digits.

   You can find your BO ID under the profile tab in MyEspresso Website or Sharekhan Espresso Mobile App. You can also find your Demat details in the client master report (CMR) received as part of the onboarding process.

   The Espresso CDSL DP ID is 12090000. Thus, if your BO ID is 12345678, your Espresso Demat account no. will read as 1208870012345678.

    

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6. 6. How to open Espresso Demat Account?

   1. Click here to Open Instant Demat Account with Espresso.
   2. Register with a mobile number and verify by entering the OTP.
   3. Enter the Bank Details such as account number and IFSC code and click on confirm.
   4. On the upload page, add the address proof by uploading Adhar Card or Adhar number.
   5. Upload Pan Card and Income Proof.
   6. Upload an image of your Signature.
   7. Click on Take a selfie: Write the current date on plain paper in DD/MM/YYYY format & take a selfie.
   8. Click on Video Verification
   9. Take a white paper and write the code that will be generated randomly by Espresso.
   10. Hold the paper in front of the camera in such a way that your face and the code both are visible.
   11. Other information pages will open: Add Personal details, Experience and Occupation, Income and Other Details and save it.
   12. Email Verification through OTP.
   13. E- Sign page will open, check client information details.
   14. Enter the Aadhar number on the NSDL E-sign service portal and click on Send OTP.
   15. Enter the OTP to complete the account opening process.
   16. The account gets activated in a few hours once the document verification gets completed at the broker end.

    

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7. 7. What is AMC for Espresso?

   Espresso Demat Annual Maintenance Charge (AMC) charges is Rs 400 per year (free for 1st year). AMC is the charge you pay to maintain your Demat account with the stock broker. The Demat AMC fee is charged irrespective of the uses of the account.

   Check the list of brokers offering Lifetime AMC Free Demat Account.

    

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