I recently noticed a problem with the new online accounts opened for my brother, wife and a friends. All of them do not have a nominee.
While we have completely automated online account opening process, why does the nomination process require us to seperately fill and sign a form and send it via courier. Can this be handled in a better way Please @nithin.
I have read through the “Procedure for transmission of shares and funds upon the death of an account holder at Zerodha” and it seems to be very very tedious even for a well educated member of my family to get the funds transferrred if nominee is not present.
I am pretty sure most recent 75% online accounts holders do not have a nominee and most of the account holders aren’t even aware of this or do not know that they can declare a nominee for thier demat account.
Zerodha should find an easy way to let the existing account holders declare a nominee without having people to courier a manually filled form. If possible run a drive to make people aware to declare a nominee. Also, I think everyone should be asked to submit atleast one nominee during the account opening process itself. Is this possible to implement ?