How to close Prostocks Demat Account?

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  • Updated On:
    27-Sep-2022
  • Replies:
    1

Short Answer

To close the Prostocks demat account, you need to submit the Prostocks demat account closure form in offline mode. It cannot be closed in online mode.

Detailed Answer

ProStocks is a leading online brokerage firm that offers its customers the opportunity to invest in and trade in stocks listed on the Indian Stock Market. Customers can trade on the BSE and NSE in the equity cash (intraday and delivery), equity derivatives (futures and options), and currency derivatives (futures and options) segments through the Prostocks platform.

The process of opening an open account is simple; you can do it online or by going to your neighborhood branch. However, closing a demat account with Prostocks is more difficult because there isn't any proper information available for that.

Today, we'll walk you through the procedure to close a Prostock demat account.

How to close Prostocks Demat Account?

The Prostocks demat account can only be closed via offline mode. You can close your demat account by following the below steps .

Step 1. You must first obtain the Prostocks demat account closure form, which you can obtain by visiting the Prostocks nearest branch or by sending an email to the customer care service .

Step 2. After receiving the form, carefully fill in all the information, including the name of the account holder(s), Client ID, and DP ID.You can access these details in your profile section after you log in to your account.

Step 3. If you have securities in your demat account, you can also choose to rematerialize them or transfer them to another active demat account, though you will also need to provide the information for that account also.

Step 4. The form must be dully signed by all account holders after all the details have been entered.

Step 5. Submit the completed form to the nearest Prostocks branch or courier it to the company's headquarters, whose address is listed on the website.

Submitting the Prostocks Demat Account Closure Form - Things to Check

  1. Your demat account shouldn't have any negative balances. You must pay off all outstanding dues before submitting the form.
  1. Your demant and trading accounts should have any holdings or positions.
  1. Along with the closure form, you must submit copies of your ID and PAN card.

Close Prostocks demat account

The Prostocks demat account cannot be closed via online mode. You need to submit the closure form in offline mode.

Furthermore, there are no fees associated with closing an account, and the Rs. 1000 you deposited during the account opening process will be refunded to your bank account when the account will be closed.

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