Friends, if you buy and sell stocks or are quite active in the stock market then you must be aware that online trading tools such as Upstox and Zerodha make it very simple to access the stock market and it will provide you an option with trading online through its online platform.
Actually, the unique feature of Upstox is that you can make a lot of money here by trading and referring this application to your friends or relatives, with Upstox is rewarding you with 500 rupees for each successful referral.
As we previously stated, Upstox pays a significant sum of money for each successful referral and this is the main reason why so many people have opened their Demat accounts on this platform.
This list also includes some such people who actually don’t have any kind of interest and still opened their accounts with the same platform just for the greed of making some money from this platform.
But the main problem is that they must pay monthly Upstox Demat account maintenance fees and this is the main reason why they want to close their Upstox Demat account.
If you are someone who also falls into the same category and want to close your Demat Account with the Upstox trading platform then this article is definitely for you.
Close Upstox Demat Account
See, if you search on the Internet, then you will find in the maximum article that you cannot close your account online on Upstox. But these things now become old things and Upstox has now upgraded its system and you can now close your account with this trading platform very easily.
In this article, we have tried our best to give you the best information about the same and that’s why we recommend you to read this article, till the end.
People also read How to Create a Watchlist in Upstox? How to Earn Money From Upstox?
Step 1: Write an Email
If you want to close your trading account with Upstox, then you have to first send a formal mail to the support team of Upstox with the help of your registered mail id.
The mail id is: Support@upstpox.com
Before emailing the Upstox support team, keep in mind that you should always send mail to them through your registered email address, as this will ensure your legitimacy and ensure that you receive a response from the Upstox team as soon as possible.
Whenever you send an email to close your account, a ticket to close your account is created instantly, and you will receive an email with the information of that ticket creation.
You do not need to do anything with the Ticket Creation email since, after receiving the same mail you will receive another email from the Upstox team with a link to close your Demat Account.
You can close the Demat account by clicking on that link and following the on-screen instructions. The link in the email will take you to a webpage in which you must enter your PAN card number, birth date, and Demat account ID to complete the rest of the process.
Step 2: Sell your Holdings
Before closing your trading account with the Upstox trading platform, it is very important to ensure that no holding shares are available in your Demat account.
If you want to close your account, then you have to first sell the holding shares in the stock market or transfer that holding to another account.
Along with this, if there is any balance left in your account, then you will have to transfer that balance to your bank account.
If your balance is negative, you must first pay the negative amount to the Upstox team before proceeding with the rest of the procedure.
Following the completion of this process, you will be redirected to another webpage on Upstox’s website, where you will be asked why you want to close your Demat account.
By selecting any appropriate reason, you can submit a request to close your Demat Account.
Step 3: Wait for the At least 8-10 Days
You must wait at least 8 to 10 days after sending the request to terminate the account. Generally, your Demat Account is conveniently closed during this time, and you will receive a confirmation email.
However, if your Demat account is not being closed for any reason, you can easily contact Upstox’s support team, and if they have been unable to support you then you can contact the CDSL authority regarding the same problem faced by you.
Final Conclusion on How to Close Upstox Demat Account
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