Please find below the Account Closure/ Deletion in Indiabulls Securities App:
As per SEBI guidelines, the Close Account option is available in the Mobile App in the Profile > Account Details section.
Upon clicking on the Close Account option, a confirmation page will come which will show a list of all the Demat Accounts that will be closed. User can also fill the Reason for closing the account but this is Optional.
Once the user clicks on the Confirm & Close Account button, a Request for Account closure will be submitted and a Success message will be shown to the user.
The request for Account closure will be reviewed by the team and will be cross-referenced with all the Internal Policies (defined below) & SEBI Guidelines. The Trading account and all the linked Demat accounts will be closed if all the policies and Guidelines are passed. This could take 24-72 hours. In the meantime if the user tries to again request for Account closure then an error message will be shown.
Guidelines for Account Closure -
When the user opts for Account Closure, the Trading account and all of the Demat accounts will be permanently closed.
If the user wishes to again trade through Indiabulls Securities in the future, he will have to do a fresh KYC and a new Trading and Demat account will be opened.
Account closure request will be rejected if there is any Debit Balance, Open Positions or Holdings in the Demat account.
