How to change bank accounts in Angel Broking? Can I add an additional bank account on Angel Broking?

I want to change my bank account in Angel Broking. Can I do it online? What documents do I need? Can I do it through a mobile application or website?
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Short Answer

Head to the stock broker's i.e. Angel Broking official website and get the “account details modification request form.” Fill it in and attach the cancelled cheque, copy of the PAN card from your previous bank account. Send the application form and the documents to its designated address for the change in a bank account.

Detailed Answer

With every stockbroker, the bank account linked can be changed based on your preference. Moreover, it’s variable from one person to another.

To change the bank account for your trading account with Angel Broking, you will have to follow the below-iterated steps.

How to Change Bank account Online with Angel Broking?

  1. First and foremost, you will have to get the Angel broking modification request form.
  1. Download the form and print it out. Enter all the details such as your previous bank account details, the new bank account details, address, contact number, and so on.
  1. Once entered, attach a canceled cheque of your existing bank account or a copy of the bank passbook, a copy of your PAN card, latest transaction statement (DP details).
  1. Once attached, place all the documents and the filled-in forms into an envelope and post it to the following address.

Address - G – 1, Ackruti Trade Center, Road no. 7, MIDC, Andheri (E), Mumbai – 400 093.

NOTE – The cancelled cheque must and should have your name printed on it and not written.

How to Change Bank account Offline with Angel Broking?

  1. Head to the nearest Angel broking branch in your city. Depending on your location, there could be at least 2-3 branches.
  1. Before going there, you will need to have a canceled cheque, a copy of your PAN card or Aadhaar card, or driver’s license.
  1. Head to the branch and demand a modification request form from the customer representative.
  1. Fill in all the details and submit the form application with the attached documents to the customer representative.
  1. The change of bank details should take 48-52 hours depending on different variables such as the processing time, document verification, and more.

For Addition of 2 or more Bank Accounts

Users have the option to add more than two bank accounts, and the process is quite simple. It can be done either through the stock brokers mobile application or it’s website.

Add Bank Account through Mobile Application

  1. Open your Angel broking mobile application.
  1. Enter all the sign-in credentials and head to the “add funds” section.
  1. The option for adding new bank accounts is present.
  1. Click on it and add 2-3 more bank accounts as per your preference.

Add Bank Account through Website

  1. Open the Angel broking trading website.
  1. Click on your profile and scroll to the “Address/bank/email/mobile section.”
  1. Right next to this option, you should find a pencil-like icon. Open it.
  1. Head to the bank section and add in the desired amount of banks. Relevant documents will be asked, do upload them in the appropriate sections.
  1. Once submitted, the new bank should be uploaded and functioning accurately within 24 hours.

Now what if you want to change your mobile number? To update it you just have to follow these steps:

  • Open the “Profile” section and click on the “Edit” option. The option looks like a small pencil. Only click on the one which was near the mobile number field. (If you cannot find a mobile number then explore your personal section.)
  • After clicking on edit, it will take you to another page to edit the mobile number.
  • Tap on edit again and enter the new mobile number.
  • Then click on submit.
  • Finally authorize it by entering the OTP received on your mobile and email.

NOTE – The withdrawal of money can only be made through your primary account. There is no option to withdraw through any other account. All bank accounts linked with Angel Broking are secondary accounts after you confirm one primary account. But funding your accounts for trading purposes can be made through several accounts linked to the stockbroker. Also, there is no fee charged when you add more than two accounts with Angel Broking.

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Discussion (3)

Angel Broking is one of the India's leading stockbroker firm. It is also a member of National Stock Exchange of India and Bombay Stock Exchange of India. Individuals can trade using this website in an easy manner and details being online it is easier to maintain a track of the details. There are various features and one must do check all of them as it helps in making their tasks easier.

Changing Bank Account is a Time consuming and long process and if one is sending the documents through post then the whole process could take up to 10 days easily. In the case of urgency, brokers should have online form submission portals that will expedite the process and reduce the hassle of the client.

To change the bank account linked to your demat account, you would have to fill out applications and send the concerned documents to the address mentioned above. The addition or change in bank details should take at least 48-52 hours to complete.

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