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:
Recommended Articles