ICICIdirect Demat Account Charges, Review, Opening

Your ICICI DP ID is a part of your demat account number. The demat account number is a 16 digit alphanumeric code. The first 8 letters of the demat account number is your DP ID and the rest 8 digits is your client ID. To know your ICICI Direct DP ID, take the following steps:

• Login to ICICI Direct website
• Go to 'Customer Service' page
• Scroll down to My Account.
• Find your demat account number under My Account Details.

Note: The CDSL demat account number is 16-digit numeric code. The NSDL demat account number starts with letter IN and followed by a 14-digit numeric code.

Example:

If your ICICI Direct Demat Account Number is IN303028 - 51120994, then your ICICI Direct DP ID is IN303028. This also shows that your demat account is with NSDL.

Note: As ICICI is a depository participant (DP) of both CDSL and NSDL, it has multiple DP IDs. Use the above step to check the exact DP ID for your account.

ICICI Direct offers both NSDL and CDSL depositories for demat account. Customers can choose one of them while opening an account. ICICI Securities is the depository participant (DP) with both NSDL and CDSL.

National Securities Depository Ltd (NSDL) and Central Depository Services India Ltd (CDSL) are two central securities depositories approved by the Government of India. They are the only two companies to hold your demat account. Stock broker (depository participant) like ICICI Securities works like an agent to service your demat account.

While both depositories are similar, NSDL transaction changes are higher than CDSL. If you do not know, choose CDSL.

To close ICICI Direct demat account, you would need to fill out a form and submit it to the bank. The account closing process is a manual process. You cannot close the demat account by email, over the phone or by submitting an online application.

An SMS is sent with an account closure request number once your application is received. It could take up to 7 days to close the account. There are no charges for account closure. You will get confirmation SMS once the account is closed.

Steps to close ICICI Direct Account

• Download the 'Account Closure Form' or get an account closure form from the ICICI branch.
• Print it, Fill it and Sign it.
• Submit it to the nearby ICICI branch or send it to the address in the form.
• Wait for a call from ICICI. It takes 7 days for the account to close.

Note:

• Before submitting the form, close all open trading positions and pay all dues, if any.
• Transfer or sell the securities you hold in your demat account.
• Any accounts which in the suspended mode for any reason cannot be closed. You have to get it active again before closing the account.

ICICI Direct assigns a unique demat account number to your demat account at the time of account opening. This account number is a 16 digit alphanumeric code. The first 8 letters is your DP ID and the last 8 digits is your Client ID.

The Client ID along with your DP ID gives you a demat account a unique identification in the depository (CDSL or NSDL) where you have your demat account. All your demat transactions are identified with this demat account number.

Note: The CDSL demat account number is 16-digit numeric code. The NSDL demat account number starts with letter IN and followed by a 14-digit numeric code.

Steps to find ICICI Direct DP ID and Client ID

• Login to ICICI Direct website
• Go to 'Customer Service' page
• Scroll down to 'My Account'.
• Go to the 'My Account Details' section.
• Find the demat account number.

Example:

If your ICICI Direct Demat Account Number is IN303028 - 51120994, then your ICICI Direct DP ID is IN303028. This also shows that your demat account is with NSDL.

Note: As ICICI is a depository participant (DP) of both CDSL and NSDL, it has multiple DP IDs. Use the above step to check the exact DP ID for your account.

The registration of nominees in the ICICI demat account is an offline process. It cannot be done online. You will have to download a nomination application form, fill it, sign it and submit it to the bank.

Steps to update nominee to ICICI demat account

• Download the FORM FOR NOMINATION/ CANCELLATION OF NOMINATION
• Print, fill and sign the form.
• Attach Copy of any proof of identity like PAN, Driving License of Nominee (major) or of guardian (if minor) is required. It needs to be self-attested and to be attested by the respective authority.
• Submit it to any ICICI bank or send it to the address provided in the form.

Note:

• Nominations can be made only by account holders. In the case of the joint account, all account holders will sign the nomination form.
• Both major or minor nominees can be nominated.
• Up to 3 nominees can be added in a demat account. In the case of multiple nominees, the percentage of share for each nominee must be filled that shall total up to 100%. In the event of non-indication of any percentage share, the claims will be settled equally amongst all the nominees.

You can change your name in the ICICI Demat Account by filling out a 'change in name form' and submitting it to your local ICICI bank branch. The process cannot be done online or through customer care.

Steps to change name in ICICI Demat Account

• Download the CHANGE IN NAME FORM and print it.
• Fill the details asked like DP ID, Client ID, account holder(s) name etc.
• Enter Reason for name change like marriage or any other reason
• Enter Old Name of applicant (as per Bank's records) and New Name of applicant (as per Bank's records)
• Attach one of the following self-attested documents:
  • Request letter along with Marriage Certificate or Copy of passport showing husband's name or publication of name change in the official gazette
  • Attested copy of Gazette for the name change
• Sign it. In the case of a joint account, all account holders must sign the form.
• Submit it to local ICICI Bank branch

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.