When opening an account, Know Your Customer (KYC) is the required procedure for identifying and verifying the customer's identity. The purpose of this is for the business to confirm that its customers are actually who they claim to be.
Smallcase KYC is a straightforward procedure and requires little paperwork. To get started you only need a Demat and trading account with a smallcase supported broker.
These brokers are supported on smallcase:
Smallcase managers like Rupeeting only require the Permanent Account Number (PAN), the registered mobile number, and the user's birthdate for the billing and KYC confirmation processes.
If you don't already have a Demat and Trading account, the broker will require you to go through the KYC process for opening a new account. One document from the following list must be provided by investors opening Demat and trading accounts with the supported brokers.
Aadhaar card issued by the UIDAI
Utility bills (telephone, electricity, and Piped Natural Gas bills) not older than 3 months
Maintenance bill issued by registered co-operative housing societies
Bank passbook or account statement not older than 3 months
Registered sale/lease agreement of residence
Valid driver’s license
Copy of insurance policy
Photo ID card with address, issued by the departments of the Central and State Governments, or any regulatory body
Photo ID card with address, issued by scheduled commercial banks, PSUs, or any public financial institution
Photo ID card with address, issued by professional institutions, like the ICAI, the Bar Council of India, the ICSI, etc.
The lists of acceptable documents are indicative and may vary as per the KYC/Anti Money Laundering (AML) regulations in force. Additional documents, forms, verification procedures, and the final decision on account opening are at the discretion of the concerned booking company.
Identity (ID) Proof:
Aadhaar card issued by the Unique Identification Authority of India (UIDAI)
PAN card (mandatory)
Valid drivers' license
Photo ID cards issued by scheduled commercial banks, Public Sector Undertakings (PSUs), or any public financial institution
Photo ID cards issued by the departments of the Central and State Governments, or any regulatory body
Photo ID cards issued by professional institutions, like the Institute of Chartered Accountants of India (ICAI), the Bar Council of India, the Institute of Company Secretaries of India (ICSI), etc.
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