How to Close Paytm Demat Account?

While Paytm offers a convenient demat platform for trading, there may come a time when you want to move on. Thankfully, deleting your Paytm demat account is a straightforward process. Before we dive in, remember,

Important Points to Remember before Proceeding

• Settle All Holdings: Ensure you don’t have any open positions or unsettled deliveries in your account. Liquidate your holdings or transfer them to another demat account before proceeding.
• No Pending Orders: Cancel any pending buy or sell orders to avoid complications.
• Balance Clearance: Pay off any outstanding dues or margin amounts associated with your demat account.

Steps to Delete your Paytm bank account

Method 1: Online Closure Form

• Step 1: Visit the Paytm Money website and log in to your account. [https://www.paytmmoney.com/]
• Step 2: Click on “Products” followed by “Stock Market“.
• Step 3: Scroll down to the “Download Center” section and download the “Account closure Request form“.
• Step 4: Fill out the form diligently, providing your complete details and reason for closure.
• Step 5: Sign the form and courier it to the address mentioned on the document.

Method 2: Customer Support

• Contact Paytm customer support through their toll-free number or chat support option within the app.
• Inform them about your intention to close your demat account.
• You might be required to provide your account details and PAN card/Aadhaar card for verification.
• Follow the instructions provided by the customer support representative to complete the closure process.

Points to Note

• Account closure might take up to 5 working days.
• Once closed, you cannot recover your account.
• Consider transferring your holdings to another demat account if you wish to continue trading elsewhere.
• Paytm customer support can assist you with any queries or technical issues during the closure process.

Deleting your Paytm demat account is a permanent action. Ensure you’ve taken care of all the preceding steps to avoid any hiccups and have a smooth closure experience.

Check out this article for guidance on:

How to Delete Paytm Account?