Open ICICIdirect Account (ICICIdirect Account Opening Process, Documents and Charges)

ICICIdirect Account Opening Charges 2023

ICICIdirect account opening charges are Rs 0 (Free) for a trading account and Rs 0 (Free) for Demat account. ICICIdirect charge Rs 300 (from 2nd year) AMC for Demat account.

1. 1. What is ICICI Direct account?

   ICICI Direct account enables customers to buy Shares, Mutual Funds, NCDs, ETFs, Loan and Insurance. It also allows customers to do intra-day and derivatives (F&O) trading at BSE and NSE stock exchanges.

   ICICI Direct account is a 3-in-1 account, a combination of saving bank account, stock trading account and a demat account. The ICICI 3-in-1 account facilitates smooth trading with the real-time transfer of money from the bank to the trading account and automatic debit/credit of securities from the demat account.

   ICICI Direct account also provides research reports, trading tips and recommendations to its customers for free. You could get services related to your ICICI Direct account online as well as offline through a relationship manager or a local branch.

   Note that ICICI Direct doesn't offer Commodity trading at MCX or NCDEX.

    

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2. 2. How to open ICICI Direct account?

   You can open an ICICI Direct account online as well as offline by visiting the local branch of ICICI. ICICI opens a 3-in-1 account, which consists of a bank account, trading account and a demat account. All these 3 accounts are opening together and linked for seamless stock market investment.

   ICICI offers an online 3-in-1 account opening (paperless) but it requires In-person verification (IPV) done by a local ICICI bank representative. NRI's can also open ICICI Direct NRI 3-in-1 Account online.

   Steps to open an online ICICIDirect Account

   1. Visit ICICIDirect.com website.
   2. Click on the 'Open an Account' button in the top navigation bar.
   3. Enter Mobile No. and OTP verification, Enter RM details, PAN, DOB and email id.
   4. Enter Bank account details to be linked
   5. KYC details fetching using KRA or Digilocker or offline ekyc
   6. E-Signing of Document using OTP sent on Aadhaar registered mobile no. Account set up will be done.
   7. Capture live photo. Email id, OTP verification. Choosing trading user id and password creation.
   8. Client to upload documents. Demat account linking. Enter professional, Financial and FATCA details.
   9. ICICI Bank RPC team will verify the record if all clear > Demat account activation. Rejected cases will be sent back to the customer for rectification.

   If you already have a bank account with ICICI Bank and would like to open a demat and trading account with ICICI Direct, you will have to follow the old paper-based account opening process as below.

   Steps to open an offline ICICIDirect Account

   1. Visiting ICICI Bank branch
   2. Fill out an application for demat account
   3. Attach following documents
      • 2 Photographs of the Applicant and 1 Photograph of a Nominee.
      • PAN Card Copy
      • Address Proof Copy

   Steps to Check ICICIDirect Account Opening Status

   • Visit the 'Customer Service' page of ICICIDirect.com
   • Under the 'New User' section, click on 'Check Application Status' link
   • Enter 'Application/Form Number' and 'Date of Birth'.

    

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3. 3. Can I open ICICI Direct account online?

   Yes, you can open an ICICI Direct account online. The account is opened as a 3-in-1 account, which consists of a bank account, trading account and a demat account. The online 3-in-1 account opening is paperless but it requires In-person verification (IPV) done by a local ICICI bank representative. NRI's can also open ICICI Direct NRI 3-in-1 Account online.

   Steps to open ICICI Direct Account Online

   1. Visit ICICIDirect.com website.
   2. Click on the 'Open an Account' button in the top navigation bar.
   3. Click on the 'Get Started' button.
   4. Enter your PAN Number, Date of Birth and Name
   5. Follow the remaining process and submit the form.
   6. A local ICICI Bank employee will visit you for IPV.
   7. Once IPV is done, the account is opened in 48 hours.

   If you already have a bank account with ICICI Bank and would like to open demat and trading account with ICICI Direct, you will have to follow the old paper-based account opening process as below.

   Steps to open ICICI Direct Offline

   1. Visit nearby ICICI branch or call them.
   2. The company's executive will visit you within 2 working days to collect documents and complete the other account opening formalities.

    

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4. 4. How to close ICICI Direct account?

   ICICIdirect accounts can be closed by submitting two separate closure forms to the ICICI branch. The ICICIdirect account closure process is offline.

   Steps to close ICICIdirect account

   • Download the Trading account closure and Demat account closure forms.
   • Print, Fill and Sign it.
   • Submit the form to the nearby ICICIdirect branch.

   On receipt of the account closure form by the broker, you receive an SMS with an account closure request number. You can use this unique number to track the account closure request.

   It could take up to 7 days to close the account with ICICI Direct. There are no charges for account closure.

   Note:

   1. Pay all your dues before submitting the form.
   2. Close all your open positions and transfer your securities.
   3. Suspended accounts cannot be closed. Reach out to customer care to reactivate them first.

    

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5. 5. How to unlock ICICI Direct account?

   You can unlock your ICICI Direct trading account online in just a few steps.

   Steps to unlock ICICI Direct Account

   1. Go to ICICIDirect.com
   2. Click on the 'Customer Service' on the top menu
   3. Click on the 'Unlock Trading Account' under Troubled Logging In section
   4. In Options 1, enter your User ID (case sensitive), Date Of Birth, PAN details.
   5. Click the 'Unlock' Account and proceed.
   6. In Option 2, enter your ICICI Bank Account Number linked to ICICI Direct Account.
   7. Click 'Proceed'

    

   

    

    

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6. 6. How to deactivate ICICIDirect account?

   The ICICI Direct account gets automatically deactivated if it is not used for 6 months. However, it will continue to attract charges. So, if you are thinking of deactivating your account for a few days or a couple of months then it doesn't make much difference whether it is active or deactivated.

   If you want to deactivate it for a longer period than 6 months to a couple of years then it is advisable to close the account and save on paying charges & fees.

    

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7. 7. How to close ICICIDirect Demat Account?

   If the customer does not do any trades for 6 months, the ICICIDirect trading account becomes 'Inactive' or 'Dormant' trading account. The account remains on the customer's name and the broker keep charging Annual Maintenance Charges (AMC) on this account. To reactivate the ICICIDIrect account, the customer has to contact ICICI Bank.

   If customers are not using the ICICIDirect's trading and demat account, it is recommended to close the account to avoid almost Rs 1000 per year AMC. ICICIDirect customer may close the accounts with ICICI Securities at any point of time.

   Steps to close Demat Account with ICICIDirect

   1. Download the 'Account closure form' or Visit the nearest ICICI Bank branch and submit an application for Account Closure. Every branch has a sample application which they print and give it to the customer to sign.
   2. Fill the form by providing all the required details. You have to carry your id proof and bank account detail with you.
   3. Attach all the required documents like copy of the ledger, unused DP slips
   4. After the application is submitted for account closure, you will receive an SMS on your registered mobile number with an account closure request number.
   5. It may take up to 2 working days to close the account. Once the account is closed you will get confirmation SMS.

   Note:

   1. ICICI do not charge anything for account closure.
   2. Before closing the account customer should reduce the account balance to zero.
   3. Customer should have no shares in demat account. Either they have to be transferred in other account or rematerialized them.

    

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8. 8. How to check DP ID in ICICI Direct?

   DP ID of your demat account in ICICI Direct is a depository identification number allocated to ICICI by NSDL or CDSL depositories.

   The DP id is part of your demat account number which is a 16 digit alphanumeric code. The first 8 digits represent the DP ID and the last 8 digits is your client ID.

   You could find ICICI Direct DP ID for your demat account by looking at your unique demat account number.

   Steps to check DP ID in ICICI Direct

   • Login to ICICI Direct.
   • Go to the 'Customer Service' section.
   • Scroll down to the 'My Account' section.
   • Check your demat account number.
   • The first 8 digit of the demat account number is the DP ID.

   Example:

   For demat account number IN303028 - 51120994, the DP ID is IN303028.

    

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9. 9. How to change phone number in ICICI direct?

   ICICI Direct customers can change the phone number online at any time by login into the ICICIDirect.com website or ICICI Direct mobile app. The process is simple and doesn't require you to submit any physical documents or visiting the branch.

   Steps to change phone number in ICICI direct

   1. Login to the ICICIDirect.com website.
   2. Click on Settings (Gear icon) in the top right.
   3. Under 'My Account' click on the 'Personal Details' link.
   4. Click on 'Other Details' tab
   5. Change your phone number and click the Update button.

   Note:

   • The phone number cannot be updated by customer service on a phone call.

    

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10. 10. How to change the email address in ICICI direct?

    ICICI Securities customers can change their email address online at any time by login into the ICICIDirect.com website or ICICI Direct mobile app. It doesn't require you to submit any physical documents or visiting the branch. It also can't be done on phone by customer service.

    Steps to change phone number in ICICI direct

    1. Login to the ICICIDirect.com website.
    2. Click on Settings (Gear icon) in the top right.
    3. Under 'My Account' click on the 'Personal Details' link.
    4. Click on 'Other Details' tab
    5. Change your 'Email ID' and click the Update button.

     

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11. 11. How to change the residential address in ICICI direct?

    The easiest way to change your address in ICICI Direct is by visiting an ICICI Bank branch with the original PAN Card and new address proof. They will give you a form to fill, get the document attested, and take your application.

    ICICI Securities customer has to fill a physical paper form to change the communication address. You cannot change the address online or by calling the call center.

    Steps to change the address in ICICI direct

    1. Login to the ICICIDirect.com website.
    2. Click on Customer Service (lady face icon) in the top right.
    3. Go down the page and locate section 'Important Information'
    4. Click on 'Download Forms'
    5. Look for 'Change Address Form - Demat & Trading Account - Individual' box
    6. Click the 'Download' button to get the PDF.
    7. Print, fill, and sign the form.
    8. Attach the following physical documents:
       1. PAN Card Copy (mandatory)
       2. Address proof (list available on the form)
    9. Visit nearby ICICI Bank Branch to get documents attested by ICICI Bank Official.
    10. Submit the form and documents to the branch.

     

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