How to close Alice Blue account online and offline?

Short Answer

To close an Alice Blue account, one can download the Account Closure form, fill it with the necessary details and documents such as Client ID, reason of closing, DIS, etc, and sent it to the head branch of Alice Blue, or visit the nearest branch and submit the same to start the account closure process.

Detailed Answer

Alice Blue is usually known as a High Exposure or Leverage providing Discount Broker. It is a Bangalore-based Discount Broker which was established in 2006. It has over 1.19 lakh clients which constitute almost 0.66% of the total client share in the NSE.

Account Closing Process-

To close one’s Demat & Trading account with Alice Blue, one has two options:

  1. Online Process-In the Online method, one can download the Account Closure form and send it to the Alice Blue Head office Branch along with the necessary documents.
  1. Offline Process- In the offline process, one can simply visit their nearest Alice Blue branch with the required documents, where they can fill and submit the Account Closure Form.

Alice Blue Account Closure - Points to Note

Some things to remember before Closing the account-

  • There should be no Positive or negative balance in one’s trading account. The balance should be cleared or withdrawn and should be “0”.
  • There should not be any outstanding securities in the Demat account. One should either sell the securities and withdraw the money or get it transferred to another Demat account through a DIS (Delivery Instruction Slip).

1.Online Process-

To complete the online process one has to visit the Alice Blue website and download the “Account Closure Form”, or by clicking on the link below-

https://aliceblueonline.com/assets/forms/Account-Closure-Form.pdf

  • Fill in all the necessary details, like Client ID, Reason for closing, Close or Deactivate account, etc.
  • Courier the Account closure form to the Head Office of Alice Blue at, “No. 153/2, 3rd Floor, M.R.B Arcade, Bagalur Main road, Dwaraka Nagar, Yelahanka, Bengaluru-560063.”
  • Send the CMR (Client Master report) of the new Demat account where the Depository Seal, Signature, and Client signature is mandatory.
  • Send the DIS (Delivery Instruction Slip) in case there are any inactive scripts in the DP account.

2.Offline process-

In the offline process one has to print the Account closure form and Fill it with the necessary details, visit the nearest Alice Blue branch and submit it there.

In this way, one can complete the account closing process easily Online as well as in the Offline way. Once the documents are received, the account will be closed post 30 days of the receipt of the Documents or the settlement of the Account, whichever is later.

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