I understand you require new customers to signup for a new demat account as part of signing up for Coin even if they have a pre-existing demat account elsewhere. But what about trading account?
Since, we are debiting the amount from the trading account and not the bank account thus you would require a trading account as well.
Thanks for your reply. Any plans to do away with this requirement in the near future? e.g. integrate Coin directly with whatever payment modes the trading account integrates with.
Since the amount will be debited from trading account so an active trading account would be required. Also, once you have opened your demat account and if you wish to buy shares on any of the exchanges as well so a trading account is mandatory otherwise the funds cannot be transferred to your account. We will be integrating eNACH which will automatically debit the amount from your bank account to your trading whenver your SIP installment is due for that particular day.
1 Like