NRI FAQs 22 June 2020 Hits: 17458 Process for shifting NRE Trading and Demat Account from Existing Broker to ProStocks and NRE PIS Bank Account from Existing Bank to IndusInd Bank. Open NRE Savings and PIS bank Account with IndusInd Bank. ProStocks will coordinate the opening of your NRE Savings and PIS Bank Account with IndusInd Bank. Write to your Present Stock Broker for providing you Close and Transfer Instruction Form for the closure of Demat Account and keep ready. It will zero cost for closure as well as shifting of your entire holding to your new Demat Account with ProStocks. Write to your Present Bank for Closure Form of PIS Bank Account and keep ready. Fill ProStocks Account opening form so same can be given to IndusInd Bank Courier, after verification by ProStocks Team on scan image of the form and we give confirmation "Good to courier" We will coordinate the opening of your NRE Savings and PIS Bank Account with IndusInd Bank. ProStocks will open your NRE Trading and Demat Account as soon as Your IndusInd Bank Savings Bank Account gets opened and IndusInd Bank confirms that your PIS Bank Account documents are good to open. Go and submit close and transfer instruction to your Present Stock Broker. As soon as your shares move to your New Demat Account with ProStocks, you can sale the shares but you would need to wait for the payment till IndusInd Bank open your bank account. Submit PIS Bank Account closure letter to your Present Bank. (This may be given to IndusInd Bank also for the further courier to your Present Bank and coordination but your help will be very important as this is your Bank Account). Day your Present Bank Close your PIS Bank Account, next day IndusInd bank open your PIS bank Account and a day after ProStocks allows you to start investing. Your Present Bank will also give PIS certificate to IndusInd Bank (This is a normal process and this is given by every Bank in the normal course, per RBI regulation). In the entire, process there maybe 3 to 7 working days as Blackout Day where you would not be able to sale and do fresh buy. However, IF you already have NRO Trading and Demat Account with us, so fresh buying will not get affected. People in this conversation Team ProStocks Comments (2) Sort by Oldest First Sort by Latest First Subscribe: Email Guest - Ajayakumar about 4 years ago hi i already have a trading and demat account with another broker (NREa/c ),is it possible to open another demat & trading account http://maps.google.com/maps?z=15&q=, Share Short URL: Permalink Team ProStocks Guest - Ajayakumar about 4 years ago ProStocks Offer NRO NON-PIS Trading and Demat Account and you can have with multiple Stock Brokers same time. ProStocks do open NRE Trading and Demat Account and few banks allow mapping of more than one Stockbroker by either by opening more than one PIS bank Account ( called splitting of PIS Bank Account) and few banks allow by opening multiple NRE Savings Bank Account below one parent NRE PIS Bank Account. http://maps.google.com/maps?z=15&q=, Share Short URL: Permalink Stickies Lovies Login to post a comment Username Password Login Remember me Post comment as a guest Name (Required): Email (Required): 0 Cancel Submit Comment
