How to close ICICI Direct demat account online?

The ICICI Direct demat account cannot be closed online. You would need to fill out a form and submit it to the company to get your demat account closed. There are no charges for closing the account. It could take up to 7 days to close the account.

There are two different ways of closing demat accounts that you should be aware of before you close your account:

1. Basic Account Closure: To close a demat account, account holders who have no holdings or pending payments can make an application to the depository participant.

2. Transfer and Account Closure: If there are still securities in the account holder's demat account, he must first transfer his holdings to another demat account before proceeding with the closure.

Steps to close ICICI Direct Account

• Download the Account closure form and print it Or visit the nearest ICICI Bank branch and request for Account Closure form.
• Fill the form and attach all the required documents like copy of the ledger, unused DP slips
• Submit the form at the branch office.
• You will receive an SMS on your mobile phone with an account closure request number.
• It may take up to 2 working days to close the account. You will get confirmation SMS once the account is closed.

For Transfer and Account closure follow the below-mentioned steps:

• Transfer all the Holdings: Ensure all the holdings have been transferred including stocks, bonds, mutual fund units, and any other financial instruments.
• Close All the Open Positions: Close any open positions in your Demat account. This includes any pending delivery instructions or outstanding dematerialization requests.
• Clear Any Outstanding Dues: Ensure all outstanding payments related to the Demat account are cleared. Make sure ICICIDirect account closure charges are paid if any.
• Contact ICICIDirect Customer Support: Account holders can reach ICICIdirect's customer service cano by calling their customer care, visiting a branch in person, or finding an account closure form on their website.
• Submit the Closure Form with the necessary Documents: The closure form must be duly filled along with necessary details such as account information, the reason for the closure and the signature of the account holder. Also, the account holder must submit necessary documents such as an IntraDS Slip, and Client Master List along with a copy of your ID, address proof, and a signed letter requesting the closure.
• Follow-Up: After submitting the closure form and necessary documents, it is important to follow up with ICICIdirect to ensure that they have received everything and that the closure process has been initiated. 
• Account Closure Confirmation:Once the request has been processed, ICICIdirect will send a confirmation that the Demat account of the account holder has been successfully closed. It is important to keep an eye out for this confirmation to ensure that the account is closed and there are no pending issues.

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