Depository Services

 Procedure for opening a Demat account

Any registered resident of India or Non Resident Indian with the necessary documentation  can open a demat account in India

1. Client to send e-mail to barclaysprivateclientsservice@barclays.com with their requirement.
2. A member of our team will be in contact within the next 2 working days.
   
3. A Relationship Manager and Service manager will be assigned to you who will help you with the documentation and process to be followed.
   
4. Fill account opening form and other document process.

You will need to fill out an application form for opening a new demat account. Along with this, you will need to submit any of OVD(s) , PAN card, Bank details, and your personal details.

PAN: This is compulsory for opening a Demat account. Please ensure PAN-Aadhaar linkage has been done.

We also have a e-signing option through Leegality.

         5. Verification process

The  Relationship Manager / Service Manager  will conduct an in-person verification of you and your KYC documents.

         6.Final approval

Once your documents are verified, and the final formalities are completed, your new demat account will be opened. You will also be given the Unique Identification Number for your account.

A demat account can have up to three account holders; two joint account holders and one main account holder.

There is a provision to nominate upto 3 nominees who will be the beneficiary/ies in the event of death of the Account holder/s. In case of joint account holders, all holders are encouraged to jointly nominate upto 3 nominees (and the percentages allocated to the nominees should add upto 100). The nominee/s can be changed or updated in the future as per the wishes of the account holder/s. In case of the holder/s choosing to not nominate, , an Opt out of nomination form is to  be submitted.

List of OVD(s)

In order to open a demat account, you will require to submit any one OVD (Officially Valid Documents).

Officially Valid Documents (OVD) applicable from 1^st Jan 2023 onward:

1. Proof of possession of Aadhaar
2. Driving License
3. Passport
4. Voter ID
5. NREGA Job Card
6. National Population Register (NPR) letter

Copies of all documents that are submitted need to be compulsorily self-attested by the applicant and accompanied by originals for verification.

For NRIs - In case OSV is not possible, notarization of documents from respective country will be required (as per local laws)

For non-individuals :

1)    Certified true copy of KYC documents to be submitted

2)    Shareholding drilldown upto 10% threshold (direct and indirect) will be required

For all clients (Individuals or non Individuals) : Our Relationship Manager may require to understand your financial journey and background - to comply with KYC and PMLA guidelines

In case officially valid document (OVD) does not contain updated address, the following documents shall be deemed to be officially valid documents for the limited purpose of proof of address:

1. Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill)

2. Property or Municipal tax receipt

3. Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address

4. Letter of allotment of accommodation from employer issued by State Government or Central

5. Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave and license agreements with such employers allotting official accommodation: Provided that you shall submit updated officially valid document with current address within a period of three months of submitting the above documents.

The following 6 KYC  attributes – Name, Pan , Address, Income range,  mobile number and email id are mandatory to be provided.

For clients who are not yet registered on KRA/CKYC or where change in KYC is required to be updated with KRA/ CKYC, we shall register with KRA/CKYC or update the details therein.

Post submission of Account opening form along with supporting document, BSIPL will review the documents submitted.

In case of any discrepancy, relationship manager/service manager will contact the Client for additional information/documents.

Once complete documentation is completed the BSIPL will generate an account number.

Service manager/relationship manager will share the account details with the Client.

BSIPL will dispatch the Welcome kit containing client details along with mandatory documents and booklets to the client communication address.

Procedure for filing a Complaint 

Procedure for filing a complaint – Grievance Redressal

Procedure for finding out status of the complaint.

Once a complaint is received, it is logged into our records, with a unique complaint ticket number. This complaint ticket number is shared with the Complainant.

The Complainant can get in touch with the Service Manager, quote his complaint number and get the status of his complaint.

Common SOP for reporting the demise of an investor