I have a ICICI 3in1 account, i want to convert that demat account to BSDA and want to open trading and Demat account from Zerodha. At current moment i have only icici demat account, i can able to convert it to BSDA account ( pre check: person should not be having another demat account to convert to BSDA as per SEBI), Now after converting my ICICI demat to BSDA, if i open one more DEMAT with Zerodha for hassle free transactions, will my ICICI demat becomes normal demat and they charge again yearly AMC?
Want to convert my ICICI Demat to BSDA and want to Open a normal demat with Zerodha, is it possible?
As far as my knowledge even if you open new Demat account with another broker the one which is initially operated under BSDA will stay as it is and no AMC charges are levied.
Not possible…Go thru’ Nithin’s comments here:
No, your ICICI BSDA would be automatically converted to normal account.
http://zerodha.com/z-connect/zerodha/open-an-account/various-types-of-accounts#comment-96142