Is it necessary to update my address on demat accounts

General
1

I recently changed my address and updated it on Aadhar. Is it compulsory to update it on demat accounts. I have several demat accounts in upstox, zerodha, Groww. But in zerodha my address is upto date and in upstox and Groww my address is old. However, I am purchasing stocks in all of these accounts. Is there any issues? Both upstox and Groww is not providing options to update the address online so I want to close them. Is there any issues if I close these accounts with old address? Should I be worried?

Respected @ShubhS9 @Meher_Smaran

2

Hi @Team_Rankings, it will not cause any issues but it’s best to have your latest address updated.

For example, if a company announces dividend and isn’t able to credit it to your bank account due to any issue, they will send a cheque to your registered address. So for scenarios like this it’s best to keep details updated.