Canmoney Demat Account Review – Account Opening, Features, Charges, Offers & more
Canmoney Demat Account Opening is an intelligent choice for beginners and experienced traders.
It offers a user-friendly platform, low transaction fees, and a large community of users who can help you learn and grow. The platform has more than 22,000 active demat accounts.
This is a comprehensive Canmoney Demat Account Review where we will know how it works, its key features, Account Opening, its charges, and what users feel about it.
| Broker Type | Full Service Broker |
| Active Demat Accounts | 22,000+ |
| Account Opening Charges | Free |
| AMC | Rs.500 per Year |
| Free Account Opening | Yes |
| Free AMC | No |
Canmoney Demat Account Review by Finec.in
Overall Rating
Account Opening Process
Offers
Charges
Products & Service
Experience
Canmoney Demat Account – Top Features
Canmoney Demat Account offers various features to suit different investors’ needs.
- In the stock market, speed matters, and this broker delivers fast trading. This enables traders to react quickly to market changes.
- For investors, cost-effectiveness is a principal issue. The banking broker provides a cost-effective platform for buying and selling stocks with competitive transaction fees.
- Canara Bank Securities also differs from traditional brokerage models because it opens accounts without charging a fee. This reduces the first cost for investors.
- There is no fee to open an account, but there’s a yearly maintenance charge of Rs.500. This is a standard fee for most brokerage platforms and helps sustain the demat account.
- The Canmoney account offers free call and trade services so investors can make orders via phone without extra fees.
Canmoney Demat Account Opening Charges
Account Opening Charges
Annual Maintenance Charges (AMC)
DP Charges
Account Closure Charges
Reactivation Charges
Dematerialisation Charges
Call & Trade Charges
The Canmoney Demat Account has a transparent fee structure. Its account opening charges are null, which means you do not need to pay fees to open a Demat account.
The Annual Maintenance Charges (AMC) of this Demat account are Rs.500 per year, making it easy to know how much it will cost to keep the Demat account active.
Securities transactions involve a small fee of Rs.15.5 per scrip for DP charges to ensure a simple and calculated cost structure.
The broker does not charge fees for account closure or reactivation, promoting flexibility for investors.
The dematerialisation cost is Rs.25 per certificate, a reasonable charge for the paperless conversion process. They offer call and trade services without additional fees.
Although such charges are standard in the industry, they contribute to the overall cost of using a Demat account.
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Canmoney Demat Account Offers
Free Account Opening
Free AMC
Free Brokerage
Free Research Reports
Free Trading calls
Referral Offers
Canmoney Demat Account Opening Process – Step-by-Step
For the Canmoney Demat Account opening, the user needs to follow a step-by-step procedure, which will be discussed in the next section.
The organization allow the user to follow online or offline mode at their convenience. Let’s go ahead.
How to open a Demat account in Canmoney? – Online Process
The online registration procedure for a Demat Account is easy and quick. Here is a detailed guide on how to open a Canmoney Demat Account online.
- To open your account online, you can hit the “open demat account” option at the bottom of the webpage.
- A form will open before you fill it up and submit it.
- You will receive a call from the company executive shortly, who will provide further guidance.
- They will let you know the document and verification required and assist at every step.
- Upon verification of your account, you will receive a confirmation email and your login details.
How to open a Canmoney Demat Account? – Offline Process
As we have seen the online process, we must also know how to open a Canmoney Demat Account offline. Below is the process.
- Find a nearby branch location or approved center.
- Go to the branch and ask for the account opening form.
- Fill in the form with the correct personal information.
- Send the necessary documents like identity proof, address proof, bank account proof, income proof for F&O, passport-size photo, and signature on white paper.
- Send the form with the documents to the branch.
- Go through the necessary in-person verification procedures as required.
- Receive a welcome kit with essential account details if verification is successful.
Eligibility Criteria to Open Canmoney Account
Nationality
Age
Active Bank Account
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Documents required to Open Canmoney Account
PAN Card Copy
Identity Proof Copy
Address Proof Copy
Bank Account Proof Copy
Copy of Income Proof for F&O
Passport Size Photo
Signature on White Paper
IPV (In-person Verification)
You must ensure the proper documents are in place for a smooth account opening process. The documents needed to open a Canmoney demat account are:
- PAN Card Copy
- Identity Proof Copy
- Address Proof Copy
- Bank Account Proof Copy
- Income Proof for F&O
- Passport Size Photo
- Signature on White Paper
- IPV (In-person Verification)
How to Close a Canmoney Demat Account?
The process of closing a demat account is as follows. While investors may decide to close their accounts for several reasons, understanding how to close a Canmoney demat account is essential.
- Investors need to visit the closest branch of Canmoney or contact customer support to close the account.
- You must fill out the form requesting account closure available at the branch or via customer support.
- Clear Dues: If there are any outstanding dues, you must clear them before closing your account.
- Investors must settle unused delivery instruction slips about the demat account.
- Fill out the closure request form and send it with the necessary documents to the branch or through customer support.
- After the verification, the account closure confirmation is sent to investors.
- There are no account closure fees, which makes the process simple for investors.
Canmoney Demat Account Review – Conclusion
Opening a Canmoney Demat Account is easy and convenient for investors.
It is also cost-effective compared to other options; the absence of account opening fees and a modest AMC of Rs.500 per annum make it an excellent choice.
The DP charge of Rs.15.5 per scrip applies only to sales transactions. The stockbroker offers flexibility with no charges for account closure or reactivation.
The provision of free Call & Trade services enhances convenience. It presents an attractive choice, combining simplicity, transparency, and accessibility for investors.
FAQs on Canmoney Demat Account
The review is complete with FAQs. Let us see the frequently asked questions by investors that might also have struck you.
How to create a Demat account in Canmoney?
For the demat account opening, you can hit the “open your demat account” button below.
Fill in the details, and you will receive a call from the company’s executive shortly. A welcome kit is issued upon successful verification.
How to Delete a Canmoney Demat Account?
To close or deactivate an account, go to the nearest branch or call customer support.
Fill out the closure request form, settle all pending payments, and send the form along with relevant documents. Upon verification, your demat account is closed.
What is AMC in Canmoney?
AMC stands for Annual Maintenance Charges. In Canmoney, the AMC is Rs.500 per year. It is a standard charge in the industry and contributes to maintaining the demat account.
What are the Account Opening Fees?
They offer free account opening, making it accessible for investors. However, there is an AMC of Rs.500 per year, and DP charges of Rs.15.5 per scrip apply only on sell transactions.
How to find a demat account number in Canmoney?
The Demat account number is usually provided in the welcome kit or the account details section on the platform.
How to get a Statement of Demat Holdings in Canmoney?
The banking broker supplies an option to generate a statement of demat holdings through its online platform.
Users can navigate to the relevant section, select the desired time limit, and download the statement.
What are the documents needed to open a Demat account?
The documents needed to open a Demat Account include a PAN Card copy, identity proof, address proof, bank account proof, income proof for F&O, passport-size photo, and a signature on white paper. IPV (In-person Verification) is also mandatory.
How much time does it take to open a Demat Account?
The time to open a Demat Account can vary. The online process is quicker, with verification and account activation taking a few days. The offline process might carry a slightly longer duration.
How to change your bank account in Canmoney?
You can visit the nearest Canmoney branch or contact their customer support. If you choose to see the branch, the staff will provide you with the form.
This form asks for information about your new bank account. After filling out the form, you must return it to the broker with some essential documents.
How to Transfer Shares from a Demat Account to a Canmoney Demat?
Clients must furnish DIS copies to the branch when transferring shares from a Demat account to Canmoney demat.
Signature verification is conducted, and soon after, the account is relocated to the chosen depository.