Espresso Sharekhan Account Opening Process Review 2024

• Espresso Sharekhan Review
• Demat Charges
• Trading Platforms
• IPO
• Account Opening
• Product & Services
• Commodity Trading
• FAQs
• Active Customers

Espresso, an online discount broking arm of Sharekhan offers a free Demat & Trading Account opening facility to customers to allow them to trade in shares, F&O, commodities, and currency segments. A person can open Espresso Account Online instantly in a 100% paperless manner and the account gets activated within 24 hours. Zero brokerage delivery trading and Pay Rs. 20 brokerage Only When You Profit are the most attractive reasons to open a Demat account with Espresso Sharekhan. Let’s check out the detailed step-by-step process to open Espresso Account Online, account opening charges, document checklist, and more.

Espresso Sharekhan Account Opening Charges

Note : Espresso Free Account Opening offer is available for a limited period till June 30, 2022 otherwise, it levies an account opening fee of Rs. 354. There is no AMC charged for the first year.

Espresso Sharekhan Demat Account Features

• Open Espresso Trading & Demat account instantly within a few minutes.
• Free Espresso account at zero account opening charges.
• No minimum balance is required to maintain the Espresso account.
• Trade-in shares, F&O, commodities, and currency.
• Apply for IPO, buyback, OFS, and NFO.
• Zero brokerage delivery trading.
• Pay Rs. 20 flat brokerages only when profit.
• All kinds of trading platforms like trading website, mobile app, and Binge trading software.
• Seamless fund transfer via 31 supported banks.
• Free fund transfer through leading banks; Axis, HDFC, ICICI, IDBI, IndusInd, and Kotak Mahindra bank.
• EspressoLogy blog to get all the updates, announcements, and opinions.

Espresso Sharekhan Online Account Opening Process | Open Espresso Demat Account Online

Espresso Sharekhan offers a 100% online or paperless account opening process to open Demat & Trading Account instantly in just 15 minutes.

Steps to open Espresso Demat Account;

• Visit the Espresso website and on the top, click on the “Open Account” tab.
• Enter your mobile number, valid captcha, and a 6-digit OTP sent on your mobile number.
• Provide basic details; your name, email ID, and your city.
• Now, enter your PAN number and DOB as per PAN, and provide bank account details like IFSC code and bank account number.
• Tick the checkbox to agree with the terms & conditions and then click on the “Save & Continue” option.
• Upload documents; Address proof, PAN Card, Signature on plain white paper, bank proof, income proof, and take a selfie to upload a passport size photograph.
• Upload a 15-second video of yourself along with all proofs for video or in-person verification.
• Now, enter personal details, experience & occupation, and income & other detail.
• E-sign the Account Opening Form (AOF) using Aadhar details.
• Upon successful verification, your Espresso account will be opened and login credentials like User ID and password will be handed over to you over email.
• Use the provided credentials to log in to your Espresso Account for online trading.

Espresso has a dedicated account opening desk; customers can call at 022 6767 2020 to get account opening assistance from the team.

Espresso Sharekhan Account Opening Documents

Opening a Demat account with Espresso requires to submit several sets of documents for verification. A complete document checklist is listed below;

• Address Proof: One can either fetch the address digitally using aadhar number via Digi locker or upload address proof manually.
• PAN Card.
• Signature proof.
• Personalized canceled cheque leaf with pre-printed name on it for bank proof.
• Upload a passport size photo or take a selfie.
• Income proof (latest 6 months salary slip, bank statement, etc) is only required if you wish to trade in Equity F&O, commodity, or currency segments.

Espresso Sharekhan Demat Account Closure

A Demat account attracts an annual maintenance fee so it is always a good decision to close idle Demat account with no active trades to avoid annual charges. However, before proceeding with an account closure request, one must ensure to have no holdings left, no negative balance, and clear all your positions and dues. If a person has holdings in the Espresso Demat account and want to switch to another broker then submit the duly filled Delivery Instruction Slip (DIS) to transfer all holdings to a new account. Espresso only offers an offline account closure facility means a person cannot close an Espresso account online. Here are the steps to permanently close the Demat account in Espresso;

1. Request customer service representatives to provide with the Espresso account closure form and get its printout.
2. Fill out necessary details including your client ID, name, and address, and mention the reason for account closure.
3. Sign the account closure form. Courier the duly filled Espresso account closure form to the registered office.
4. Now, you will receive a closure confirmation SMS from Espresso Team.

Espresso Sharekhan Account Closure Charges

There is no fee charged on account closure means any Espresso customer can close his Espresso Trading & Demat Account at zero charges.