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Open Paytm Money Account | Paytm Money Account Opening Online Process Review


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Paytm Money Account Opening Charges 2021

Paytm Money account opening charges are Rs 0 for a trading account and Rs 0 for Demat account. Paytm Money charge Rs 0 (Free) AMC for Demat account.

TransactionCharges
Trading Account Opening ChargesRs 0
Account AMC ChargesRs 300 (Annual Platform Fees)
Demat Account Opening ChargesRs 0
Demat AMC (Yealy)Rs 0 (Free)
Special Offer: ₹0 account opening fee + ₹300 of free brokerage + Brokerage-free equity delivery trades for life + Flat ₹10 Intra-day and F&O trades + ₹0 Demat AMC. Get the offer

Paytm Money is an online discount broker offering investment, trading, and mutual fund advisory services to its customers to invest in the Indian Stock Markets. The company does not provide any tips,recommendations, or research services for stock trading.

Paytm Money offers to trade in Equity, Derivatives, IPO, NPS, Digital gold, and Mutual funds. The company is working to include Currency and Commodity Derivatives in its product offering in the near future.

Paytm Money customers can use the advanced trading platform Paytm Money offered by the company at Rs.300 per annum that includes a mobile trading app and a trading website.

Key facts about Paytm Money

  • Originally started as a Direct Mutual Fund investment platform.
  • Wholly owned subsidiary of One97 Communications Limited that is India's leading mobile internet company.
  • Product offerings include NPS and digital gold along with Stocks, Derivatives, and MF.
  • Fully Digital KYC and online account opening.
  • Online IPO Investment.
  • Large customer base with 60+ lakhs customers as of Dec 2020.
  • Do not provide tips, research, or any recommendations.
  • No branch support available.
  • Free Equity Delivery trading.
  • Zero Maintenance Charges.

Paytm Money Account Opening Process

Paytm Money offers fully digital KYC and a 100% paperless account opening process to its customers. The account opening at Paytm Money is a simple and easy process. Paytm Money does not offer an offline account opening.

Steps to open Trading and Demat account with Paytm Money

The account opening at Paytm Money is classified into four stages. To open the trading and Demat account with Paytm Money, you need to follow the below steps.

  1. Download the Paytm Money App.
  2. Log in using the existing 'Paytm' credentials. In case you do not have a Paytm account, sign up afresh to create a Paytm account with an email id or mobile number.
  3. Verify the mobile number by entering OTP received on the mobile number.
  4. Click on 'I want faster access'.
  5. Submit all the necessary documents required for Paytm Money KYC verification.
  6. Complete the Stock market onboarding process by providing your trading experience and trading preference.
  7. Complete the Aadhar based E-sign on the account opening form.
  8. The broker will register the client details with the exchange and CDSL. Once the registration gets completed, the broker informs the client of the account activation.

You will be notified of completion at each stage of onboarding on the home dashboard screen of the app once you log in. At each stage requires, you are required to submit specific data. Below is the detailed stage-wise account opening process.

Stage 1: KYC Verification for Stock Market.

  1. Enter your PAN No. to check your investment readiness status.
  2. Upload PAN Card Photo in case your KYC is not verified.
  3. Add personal details like full name, date of birth, gender, marital status, profession, Parents name, and Save.
  4. Sign on the screen or upload a photo of your signature and save it.
  5. Upload your photograph.
  6. Complete the In-Person Verification (IPV) by uploading a 5-second video introducing yourself. Then click on Submit.
  7. Add your address and upload an address proof and Submit.
  8. Add a nominee (optional step).
  9. Declare your annual income and tax status.
  10. Enter your bank details like the IFSC code and account number.
  11. Verify the bank details by uploading a bank account proof.
  12. Click on Exploreunder the Stocks tab and click on Start Investing.
  13. Set a 4-digit security passcode.
  14. Click on Start and Open My account.

With this, the first stage gets completed. You can start the second stage once you see the green tick on your KYC status with a message as 'Your details are successfully verified' that denotes that your Paytm Money KYC is verified.

Stage 2: Stock Market Onboarding

  1. Click on Complete Now that opens a pre-filled account opening form.
  2. Read the terms and conditions and click on Submit.
  3. Select the exchange and trading segment and confirm.
  4. Update trading experience.
  5. Sign in dark ink on white paper, click the photo, and upload your signature.
  6. Click on Okay and Next.

This completes the Stock Market Onboarding Stage. You can proceed to the next stage once you see the green tick on the second stage with a message as 'Your details are successfully verified' that denotes that your stock market onboarding is complete.

Stage 3: Account Opening Form (AOF)

  1. Click on Complete Now to E-Sign the AOF.
  2. Grant the location access and Proceed.
  3. Enter the Aadhar number on the NSDL E-sign service portal and click on Send OTP.
  4. Enter the OTP received on the linked mobile number and verify the OTP.

This completes the E-signing process. You are now just a step away from the account activation.

Stage 4: Registration with Exchanges: There is no action required from the client/investor in this stage. Paytm Money will complete the registration process of the client with Exchanges and Depository and notify once done.

Once all the stages are complete and ticked in Green, your account gets marked as Investment ready.


Documents needed for Paytm Money account opening

Paytm Money account opening is an online and paperless process. Paytm Money KYC is fully digital. You need to upload photographs of the documents required for account opening without any need to submit the physical documents to the broker office.

Paytm Money KYC Documents

  • PAN Card
  • Address Proof (Passport, Driving License, Voter ID, Aadhar Card)
  • One video recording for IPV.
  • Photograph of the signature on white paper.
  • Photograph.
  • Bank Address Proof (Cancelled Cheque, Passbook front page)

Paytm Money account opening status

Paytm Money account opening is a little lengthy but an instant process. Paytm Money account opening time taken is about 10-24 hours to activate an account and make it investment-ready.

The Paytm Money account opening process is divided into four stages. The approximate timelines taken at each stage of account opening are:

  • Paytm Money KYC time taken is generally 30 mins to one day.
  • Stock Market onboarding time taken is generally 6 hours to one day.
  • The E-signing process takes about 45 mins to 2 hours.
  • Account creation in exchange and depository takes about 2 hours to one day.

Once all the four account opening stages get completed, your account gets activated for trading. The dashboard displays a message - 'You are ready to invest' that qualifiesyou

as Investment ready (IR).

In case of any queries, issues, or delays, you can initiate a chat with the Customer Care Team or drop an email to exg.support@paytmmoney.com or raise a request through the Paytm Money app using the respective category with the Customer Support team.


Paytm Money Account opening form

Paytm Money account opening is entirely an online process. There is no requirement for the physical account opening form for the onboarding process. The company still maintains the Paytm Money account opening form for reference on its website.

To download the account opening form,

  • Go to the company website.
  • Select the Stock Market Product.
  • Click on Download Centers under the Support Section at the footer.

Paytm Money has many other forms listed on its website like Demat Request Form, modification form, pledge/unpledged form, DIS Request Form, Nomination Form, along with account opening form.


Paytm Money account closure form

You can close the Paytm Money trading and Demat account anytime you wish. Before initiating the closure process, you need to clear all the outstanding dues with the broker. You also need to transfer the securities in your Demat account, if any, to another Demat account.

You cannot close the Paytm Money trading and the Demat account online. You have to download the form from the website and duly sign it and raise a deletion request of your Paytm Money account with the Customer Support team through Paytm Money mobile app.

Steps to Close Paytm Money Trading and Demat account

  1. Go to Download Centers under the Support Section in Stock market Product to download the Paytm Money account closure form.
  2. Download the form that reads Account Closure Request Form.
  3. Fill in details like your name, Client ID, the reason for the closure, and sign it.
  4. Attach a copy of the ledger and pending delivery instruction slips.
  5. Raise a deletion request or submit a written request with the customer support team through the Paytm Money mobile app.

The company will initiate the closure process post completing verification of the request. If you do not receive any communication from the company within seven to ten days, follow up with customer support via chat, ticket, or call.


Paytm Money account statement

Paytm Money provides various account statements that help you track your investments.

The company offers a ledger statement that highlights the transaction details of your trading account. The company also provides the contract note that has the detailed break up of charges and net receivable/payable for a trade. These account statements are sent on your registered email id with the broker as a part of the monthly consolidated statement.

You can also request the physical documents by raising a request with the customer support team. However, the broker charges Rs.300 for the physical copy of the statements with added courier charges of Rs.300 on a per request basis.

Paytm Money Special Offer

Free Equity Delivery Trades for Life and More...

  • ₹0 account opening fee +
  • ₹300 of free brokerage +
  • Brokerage-free Equity Delivery +
  • Flat ₹10 per trade for Intraday & F&O +
  • ₹0 Demat AMC

This is a limited-time offer. Open Instant Paytm Account online and start trading today.

Frequently Asked Questions

  1. 1. What are Paytm Money KYC charges?

    Paytm Money charges Rs 200 as account opening fees of the Trading and Demat account.

    The company offers a 100% paperless and fully digital KYC process. An investor has to pay one-time KYC charges towards account opening. Paytm Money does not charge for maintenance of the Demat account.

     

     

  2. 2. How long does it take to open an account with Paytm Money?

    The account opening at Paytm Money is a quick, 100% paperless, and fully digital process.

    Paytm Money takes about 24 hours for KYC verification and setting up an account to make it Investment Ready.

     

     

  3. 3. What is an account opening charge in Paytm Money?

    Paytm Money offers a fully digital account opening to its customers. The company charges a one-time fee for account opening and has zero maintenance charges for maintaining a Demat account with the broker.

    Paytm Money Account Opening Charges

    Transaction Head Charges

    Account Opening Charges

    Rs 200

    Trading Account AMC Charges

    Rs 0

    Demat Account Opening Charges

    Rs 0

    Demat Account AMC Charges

    Rs 0 (Free)

     

     

  4. 4. How to open a Demat and Trading Account with Paytm Money?

    The account opening with Paytm Money is a 100% paperless process. The account opening process at Paytm Money is classified into four stages:

    • KYC Verification for Stock Market.
    • Stock Market Onboarding.
    • Account Opening Form.
    • Registration with Exchanges.

    The home screen will display the stage wise progress of account opening. You will be notified of completion at each stage of onboarding on the home dashboard screen of the app once you log in.

    Steps to open Demat and Trading Account with Paytm Money:

    1. Download and login to the Paytm Money App.
    2. Verify the mobile number by entering OTP received on the mobile number.
    3. Click on 'I want faster access'.
    4. Submit all the required documents for KYC verification.
    5. Provide your trading experience and trading preference to complete the Stock market onboarding process.
    6. Complete the Aadhar based E-sign on the account opening form.
    7. The broker will register the client details with the exchange and CDSL. Once the registration gets completed, the broker informs the client of the account activation.

    Read Paytm Money Account opening for more details.

     

     

  5. 5. What are the documents required for Paytm Money account opening?

    The account opening at Paytm Money is a 100% paperless process. Paytm Money offers a fully digital KYC wherein you are required to upload copies of the below documents.

    Documents required for Paytm Money account opening:

    • PAN Card.
    • Address Proof -Passport, Driving License, Voter ID, Aadhar Card.
    • A 5-second video recording introducing yourself for IPV.
    • Photograph of the signature on white paper.
    • Bank Address Proof -Cancelled Cheque, Passbook front page.

     

     

  6. 6. How to delete the Paytm Money account?

    The Paytm Money account cannot be deleted or closed online. To delete the Paytm Money account, you need to submit a written request and a duly filled up physical account closure form to the broker office. You can either temporarily suspend the account or close it permanently by mentioning your preference in the request.

    Before initiating the closure request, you need to clear all your dues and settlement obligations towards the broker.

     

     

  7. 7. Does Paytm Money allow offline account opening?

    No, Paytm Money does not offer offline account opening.

    Paytm Money offers fully digital KYC and account opening to its customers. The company does not provide offline or branch support to its customers.

     

     

Information on this page was last updated on Wednesday, July 14, 2021


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