How To Open Paytm Money Account Online?

Investors in the Indian stock market can use Paytm Money, an online discount broker that provides Investment, trading, and mutual fund advising services. However, the company does not offer any advice, suggestions, or research services for stock trading.

Equity, derivatives, IPOs, NPSs, digital gold, and mutual funds can all be traded with Paytm Money. In addition, currency and commodity derivatives will soon be part of the company’s product lineup.

Paid clients can benefit from the company’s advanced trading platform Paytm Money, which comprises a mobile trading app and the company’s website.

TransactionCharges
Trading Account Opening ChargesRs 200
Account AMC ChargesRs 300 (Annual Platform Fees)
Demat Account Opening ChargesRs 0
Demat AMC (Yealy)Rs 0 (Free)

Paytm Money Account Benefits

  • Originally started as a Direct Mutual Fund investment platform.
  • Wholly owned subsidiary of One97 Communications Limited is India’s leading mobile internet company.
  • Product offerings include NPS and digital gold and Stocks, Derivatives, and MF.
  • Fully Digital KYC and online account opening.
  • Online IPO Investment.
  • Large customer base with 60+ lakhs customers as of Dec 2020.
  • Do not provide tips, research, or any recommendations.
  • No branch support is available.
  • Free Equity Delivery trading.
  • Zero Maintenance Charges.

Paytm Money Account Opening Process

Paytm Money offers fully digital KYC and a 100% paperless account opening process to its customers. The account opening at Paytm Money is a simple and easy process. However, Paytm Money does not offer an offline account opening.

Steps to open Trading and Demat account with Paytm Money

The account opening at Paytm Money is classified into four stages. To open the trading and Demat account with Paytm Money, you need to follow the below steps.

Open a Free Demat Account

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  1. Sign Up for Paytm Money.
  2. Download the Paytm Money App.
  3. Log in using the existing ‘Paytm’ credentials. If you do not have a Paytm account, sign up afresh to create a Paytm account with an email id or mobile number.
  4. Verify the mobile number by entering OTP received on the mobile number.
  5. Click on ‘I want faster access.’
  6. Submit all the necessary documents required for Paytm Money KYC verification.
  7. Complete the Stock market onboarding process by providing your trading experience and trading preference.
  8. Complete the Aadhar-based E-sign on the account opening form.
  9. The broker will register the client’s details with the exchange and CDSL. Once the registration gets completed, the broker informs the client of the account activation.

You will be notified of completion at each stage of onboarding on the home dashboard screen of the app once you log in. At each stage requires, you are required to submit specific data. Below is the detailed stage-wise account opening process.

Stage 1: KYC Verification for Stock Market.

  1. Enter your PAN No. to check your investment readiness status.
  2. Upload PAN Card Photo in case your KYC is not verified.
  3. Add personal details like full name, date of birth, gender, marital status, profession, Parents’ name, and Save.
  4. Sign on the screen or upload a photo of your signature and save it.
  5. Upload your photograph.
  6. Complete the In-Person Verification (IPV) by uploading a 5-second video introducing yourself. Then click on Submit.
  7. Add your address and upload an address proof and Submit.
  8. Add a nominee (optional step).
  9. Declare your annual income and tax status.
  10. Enter your bank details like the IFSC code and account number.
  11. Verify the bank details by uploading a bank account proof.
  12. Click on Exploreunder the Stocks tab and click on Start Investing.
  13. Set a 4-digit security passcode.
  14. Click on Start and Open My account.

With this, the first stage gets completed. You can start the second stage once you see the green tick on your KYC status with a message as ‘Your details are successfully verified’ that denotes that your Paytm Money KYC is verified.

Stage 2: Stock Market Onboarding

  1. Click on Complete Now, which opens a pre-filled account opening form.
  2. Read the terms and conditions and click on Submit.
  3. Select the exchange and trading segment and confirm.
  4. Update trading experience.
  5. Sign in dark ink on white paper, click the photo, and upload your signature.
  6. Click on Okay and Next.

This completes the Stock Market Onboarding Stage. You can proceed to the next stage once you see the green tick on the second stage with a message as ‘Your details are successfully verified,’ indicating that your stock market onboarding is complete.

Stage 3: Account Opening Form (AOF)

  1. Click on Complete Now to E-Sign the AOF.
  2. Grant the location access and Proceed.
  3. Enter the Aadhar number on the NSDL E-sign service portal and click on Send OTP.
  4. Enter the OTP received on the linked mobile number and verify the OTP.

This completes the E-signing process. You are now just a step away from the account activation.

Stage 4: Registration with Exchanges: There is no action required from the client/investor in this stage. Paytm Money will complete the client’s registration process with Exchanges and Depository and notify.

Once all the stages are complete and ticked in Green, your account gets marked as Investment ready.


Documents needed for Paytm Money account opening

Paytm Money account opening is an online and paperless process. Paytm Money KYC is fully digital. You need to upload photographs of the documents required for account opening without submitting the physical documents to the broker’s office.

Paytm Money KYC Documents

  • PAN Card
  • Address Proof (Passport, Driving License, Voter ID, Aadhar Card)
  • One video recording for IPV.
  • Photograph of the signature on white paper.
  • Photograph.
  • Bank Address Proof (Cancelled Cheque, Passbook front page)

Paytm Money account opening status

Paytm Money account opening is a little lengthy but an instant process. Paytm Money account opening time is about 10-24 hours to activate an account and make it investment-ready.

The Paytm Money account opening process is divided into four stages. The approximate timelines taken at each stage of account opening are:

  • First, Paytm Money KYC time taken is generally 30 mins to one day.
  • Second, stock Market onboarding time is generally 6 hours to one day.
  • Third, the E-signing process takes about 45 mins to 2 hours.
  • Finally, account creation in exchange and depository takes about 2 hours to one day.

Once all the four account opening stages are completed, your accounts are activated for trading. The dashboard displays a message – ‘You are ready to invest’ that qualifies you as Investment ready (IR).

In case of any queries, issues, or delays, you can initiate a chat with the Customer Care Team, drop an email to exg.support@paytmmoney.com or raise a request through the Paytm Money app using the respective category with the Customer Support team.


Paytm Money Account opening form

Paytm Money account opening is entirely an online process. There is no requirement for the physical account opening form for the onboarding process. The company still maintains the Paytm Money account opening form for reference on its website.

To download the account opening form,

  • Go to the company website.
  • Select the Stock Market Product.
  • Click on Download Centers under the Support Section at the footer.

Paytm Money has many other forms listed on its websites like the Demat Request Form, modification form, pledge/unpledged form, DIS Request Form, Nomination Form, and account opening form.


Paytm Money account closure form

You can close the Paytm Money trading and Demat account anytime you wish; however, before initiating the closure process, you need to clear all the outstanding dues with the broker. In addition, you also need to transfer the securities in your Demat account, if any, to another Demat account.

You cannot close the Paytm Money trading and the Demat account online. You have to download the form from the website, duly, it an,d raise a deletion request of your Paytm Money account with the Customer Support team through Paytm Money mobile app.

Steps to Close Paytm Money Trading and Demat account

  1. Go to Download Centers under the Support Section in Stock market Product to download the Paytm Money account closure form.
  2. Download the form that reads Account Closure Request Form.
  3. Fill in details like your name, Client ID, and the reason for the closure, and sign it.
  4. Attach a copy of the ledger and pending delivery instruction slips.
  5. Raise a deletion request or submit a written request with the customer support team through the Paytm Money mobile app.

The company will initiate the closure process after completing the request’s verification. If you do not receive any communication from the company within seven to ten days, follow up with customer support via chat, ticket, or call.


Paytm Money account statement

Paytm Money provides various account statements that help you track your investments.

The company offers a ledger statement that highlights the transaction details of your trading account addition; theIn addition, the company also provides the contract note that has the detailed break up of charges and net receivable/payable for a trade. These account statements are sent on your registered email id with the broker as a part of the monthly consolidated statement.

You can also request the physical documents by raising a request with the customer support team. However, the broker charges Rs.300 for the physical copy of the statements with additional courier charges per request.

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