Same here - have two stocks that I need to sell. I have been writing to Zerodha about it.
This has been badly managed by them as no process allows for immediate blocking without warnings. I never received alerts or emails from Zerodha that there is some issue with kyc. One fine day, my account was blocked.
I have changed my email address 2 years ago. I didnāt received any email from zerodha to validate it before deadline.
Suddenly my trading account got blocked and I received email from zerodha to validate mobile number and email address.
I have validate it on Thursday. Now I have to wait for 5 days. Does Saturday and Sunday count in this 5 days ? or I have to wait for 5 working days ?
@Alwin Just got an email:
Your request to update KYC for your account with Zerodha has been approved.
You can continue using the account in 24 hours.
Does this mean i can trade from tomorrow?
If you are opening an account with any intermediary, your KYC is supposed to be registered with KRA. KYC registration agency are a third party here. However, whether your KYC is registered or not will be known untill KRA alerts the respective intermediary. The SEBI regulations are for KRA to ensure your details are validated. If you have multiple accounts, this should technically affect all accounts.
Most of the KRAs must have sent multiple reminders instructing clients to validate your KYC. In any case, Zerodha alerted you as soon as KRAs notified your IDs, mentioning the same. Without receiving such affected IDs from KRAs, itās almost impossible to notify in prior.
Imagine Zerodha doesnāt block- Clients can end up having an open position while regulations donāt allow them to trade. In addition to that, Zerodha will be held accountable by regulators. I cannot comment on other intermediaries. At Zerodha, We follow strict KYC norms.
One of the previous KYC circulars by exchanges said UCCs/clients will not be allowed to even exit positions until KYC status is verified. Now imagine having open positions and not being able to exit. Quite a risk, right? So, in the best interest of clients and compliance/risk management policies, itās ideal to get clients to validate and then allow them to trade. Hence, we request you to cooperate.
Could have been communicated well in advance?
Well, I agree its a last-minute notification. But trust me, If there was a possibility to do this, we would have definitely done well in advance. At last, why would Zerodha doesnt want its clientās KYC to be compliant or leave the client in a situation they cannot trade?
This means your rekyc request at Zerodha is approved. Zerodha and KYC agency are 2 different entities. Since your Rekyc is approved, the details are sent to KRA for modification which will take up to 2-3 days.
Explained here.
Trade restrictions removed.
Thanks Alwin
Same Problem Hereā¦Its worst service by NSEKRAā¦also zeroda should do something on priorityā¦No one is picking call at NSEKRA nor they are replying the email
Zerodha support ask me to complete rekyc process.
earlier kyc was done at NSDL KRA (Sharekhan). Does it will change to cdsl KRA with zerodha kyc ?
@Alwin got email from camskra kyc verified yesterday. How long does zerodha take to enable my account back?
Absolutely no update yet from Zerodha or NSE KRA. My account is blocked since the 5th of April and unable to trade.
Is anyone looking at raising a complaint against this whole matter with SEBI - specially in respect to sudden blocking of account for trading without prior information? Not sure which institute is at the wrong end here - NSE KRA or Zerodha?
There is ingoing process to convert my resident individual account to an NRO NON-PIS account. Since 2nd May my old account has been closed and investments made inaccessible. I received the credentials for a new account but the new account has been dormant. My investments donāt show on it. On the CVL KRA website it shows to me that my KYC was rejected because my registration form was non properly filled (I did not fill the registration form). This is based on the rejection reason provided on the website which is āREGISTRATION FORM NOT PROPERLY FILLED [ADDRESS]ā.
How is this being addressed? I received a response on the ticket saying that this is being reviewed, but that is just not enough information. Could someone shed light on how Zerodha might rectify this?
Hi @intellijinvestor, sorry to hear this. Could you please DM me your ticket number? Will get this checked.
I canāt seem to DM, but the ticket number is 20231206636610
HI Team,
I have provided Aadhar - PAN Linkage snapshot, 4 weeks ago. I have done reKYC at Zerodha and at SBI bank 4 weeks ago. But still unable to trade on NSE. Zerodha Support Team says, they are working with backend team?
Am frustrated now?
Is there anyone to help?
I can provide my Zerodha ID as needed?
my Ticket number is [#20240508194141]
Sangeeta
Hi @rohilla.rahul, sorry to hear this. Getting this checked. You will have an update on the ticket at the earliest.
Iām also facing same issue my trading account is blocked and I did KYC reverification on 28th June.
Zerodha is saying nothing is required but still account is blocked due to exchange approval or something. I called them multiple times but no use and now they have removed all my holding from holding.
Iām in the market since 2007 but zerodha is most unprofessional in handling these types of issues.
Completely helpless now!!
Ticket #20240620278031
By the way I checked with NSE as well over email and they are saying this will be resolved by Broker.
Ticket #20240620278031
Checking this.
What issues you are facing?
