How to close Ventura Securities Demat Account? Can I close my demat account online or do I need to visit any offline channel?

I have a Ventura securities demat account for quite long. But now I wish to close it. What is the process to the demat account? Are there any hidden charges involved? Can the account be closed online or do I need to visit the branch?
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Short Answer

Closing a Ventura Securities demat account is a little tedious as there is no online facility for the same, but it can be closed by sending a closure form to the nearest Ventura Securities office. The whole process will take 7-8 working days to complete your request.

Detailed Answer

Ventura is a SEBI registered full-time broker and a member of the NSE, BSE, MCX, NSDL, and CDSL. Ventura offers online trading for mutual funds, commodities, stocks, and currency derivatives. Additionally, they provide portfolio management services and assistance with customized investment planning.

Ventura Securities' procedure for opening an account is similar to that of other full-service or online brokers. Venture AMC charges are 0 for lifetime. But they have zero AMC option with refundable deposit, if any. Therefore, you must close your Ventura Securities account if you are no longer using it.

Here's how to close your demat account with Ventura Securities.

How to close Ventura Securities Demat Account?

A Ventura Securities demat account can only be closed in offline mode. To do this, download the Ventura Securities' demat account details addition/modification/deletion request form (all in one), and then follow these steps to continue.

  • Fill in all the details such as DP ID and account holder name(s).
  • Next, you have to tick “deletions to my/our demat account in your records ".
  • Fill out the form, attach a copy of ID proof (PAN mandatory), and send it by courier to the nearest Ventura Securities office.

What should I check before sending a demat account closure request?

  • There should be no holdings or positions in the demat or trading account.
  • All balance and charges should be cleared.
  • Name and details should be correct.
  • If there are multiple account holders, each holder's name and signature should be there.

So, in short you can either visit the branch or contact your broker to get the demat closure form. Since they don’t allow online closures, the process might be a bit tedious. Check in with the customer care for proper guidance at all times.

While you fill the details in the form, pay extra attention while entering numbers. Because one simple mistake and your form will be rejected automatically.

Close Ventura Securities Demat Account

Opening a Ventura Securities demat account is easy as compared to closing it. It can only be closed by sending the account closure form in offline mode.

Therefore, to avoid more trouble, make sure to check all the details and clear all the dues because failing to do so may result in the denial of your closure request.

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Discussion (3)

What are the demat charges on Ventura? I read somewhere that you can find the account closure form on NSDL website. Is is true?

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