Before starting any demat transactions with AssetPlus, every client must undergo a one-time demat account activation procedure. This procedure entails providing essential personal information, address details, bank account particulars, and existing demat account details to successfully activate the account.
Pre-requisites
Before the account activation, please make sure the client has completed the signup and can log into the client app
Step 1: Pre-fill some information for the client
If you don't have any activation details for the client, skip to Step 2.
If you have some details about the client, then you can pre-fill those for the client. This will make it easy for your client during Step 2.
On the dashboard, search for the client on the home page and open the client panel. On the panel, go to the Documents section.
Enabling Demat Mode on AssetPlus
To enable demat mode, partners must go to the documents section, click on Edit, and tick the check box, "Enabling Demat Mode."
You would be required to enter details about the existing client's demat account, such as the depository participant (NSDL/CDSL), DP ID, and Depository Client ID, as shown in the screenshot below, and click on Save to proceed further.
The client then enters the required information, as shown below
After entering all the details, the client needs to sign on the screen and submit.
Step 3: Document verification by AssetPlus
Once all the details are entered and KYC and bank account verification are completed, the Operations team will process the account manually at BSE's end.
The TAT for account activation is 1 working day. Once the account gets activated the team will communicate the same on Live chat/Support ticket if a ticket has been raised.
On the dashboard, when the client has not submitted any activation details, it will be reflected as Empty.
Once the client submits the activation details, the status will be changed from Empty --> Submitted.
When the client completes the activation process and the documents are verified, the status will finally appear as Accepted.
After this, the client is ready to make any transactions on the AssetPlus platform.
Please note:
The system will not approve the activation in the following cases:
Incomplete or Old KYC
KYC is a mandatory requirement for investing in mutual funds or stocks in India. Every investor needs to complete KYC before his account can be activated. If the client does not have a valid KYC, the system will not approve the activation. The client will be sent instructions to complete his KYC online or offline. After his KYC is done, activation will be approved.Bank Verification Failure
The system deposits Re.1 into the bank account mentioned during the activation process. If the account number is wrong, or the name in the bank account doesn't match the name on the PAN, the system will not approve. The client will be sent instructions on how to provide additional bank proof. After he submits the proof, activation will be approved.