Espresso NRI Account – Benefits, Charges, Opening Process, Support & more

Are you unsure of how to run your trading account wheel as an NRI? An Espresso NRI Account is a trustworthy option for you.

Before you invest anywhere, you must have a detailed knowledge of the platform. Checking relevant features like Espresso NRI Account charges, application process, and other benefits remains mandatory.

If you are yet to open your new NRI demat account, get your doubts clarified in this Espresso NRI Account review.

Why Invest with an Espresso NRI Account?

Check out various reasons to invest with Espresso NRI Demat Account.

• Whether you are a new or existing investor in the stock market, opting for an Espresso NRI Account is a safe choice.
• Founded in 2000, this platform is safe and reliable with free account opening charges.
• With investing options in BSE and NSE, your trading account does not require extra or hidden charges.
• The platform has a unique initiative called Bootcamp, where you can sharpen your skills before investing in a trade.

Opening an Espresso NRI Account will cost you nothing, and yes, that is true!

If you think you have to pay handsome security fees to run a trading account, you are wrong. Espresso NRI Account AMC is 500 INR with an additional 18% GST.

This cost allows you to maintain both your demat and trading account and other attractive platform benefits like Bootcamp, call-and-trade, nil charges for loss-making trades, and more.

As mentioned, the Espresso NRI Account brokerage charges are lower than other platforms.

You can invest every day without worrying about loss-bearing trades without any hidden fees. Explore more about delivery trading with both PIS and non-PIS here.

Note that equity delivery (with PIS) charges are as low as 50 INR on every trade, while non-PIS charges go even lower to 30 INR per trade.

On the other hand, the investment cost in Equity Futures and Options is also very low—just Rs 30 per trade.

So, even if you are a new member and learning trading skills, the maximum amount of INR 50 or 30 INR is reasonable enough.

How to Open an Espresso NRI Account? 

This process includes a few simple steps. It takes 3 to 5 days to get your account ready. Follow the below steps to open your new account.

It is to be noted to qualify for an account opening in Espresso, and you must have an NRI account.

The qualifiers for trading in this platform must also have a PIS Bank Account or Custodial account for derivates.

The right way is to review the online platform and check for details thoroughly. This platform only accepts NRI bank accounts of private banks like Axis, HDFC, IDFC First Bank, and more.

1. After checking the required documents, head to the online platform and click “Open NRI Account”. Do not forget to notarize all the documents. You can check the list of documents at the end of this review article.
2. An application form will pop up on your screen. Fill it carefully with all the details.
3. After completing the form, you will receive a call from the company executive.
4. You will be provided with a PDF form for account opening.
5. To open an account offline, you can send the documents with the form to the Espresso office in Mumbai.
6. However, an online account opening procedure is best. You can contact the Espresso account opening assistance number for help.

These few steps will ensure you have a safe and secure account. Wait for 3 to 5 days to get your account active.

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Take note of the following essential documents to open an Espresso Non-Resident Indian account.

1. The first step is to fill out the NRI account opening form. Make sure to sign it. Also, do not forget to check on the banks they accept.
2. Verify your mobile number and fill out your bank and PAN card details. It is essential to provide the PAN card copy of the NRI.
3. Provide your overseas address proof.
4.  This will include your passport, Aadhar Card, driving license, and bank statements.
5. You must submit a cancelled check to your NRE or NRO bank account to link your account with Espresso.
6. Provide OCI/PCI card; this is essential too.
7. You also need to provide a valid visa. This can be a work or student employment permit visa certificate.
8. You must also submit a PIS letter and a passport-size photograph. You may also be asked to attach a cheque for account opening charges.

Finally, go to email verification, submit your e-signature, and complete the account opening process. Your broker will confirm your account in a few hours.

Espresso NRI Account- Top Features

While several NRI account vendors are available in the market, Espresso for NRI stands out with its plentiful features.

• The cost of bearing an account is as low as 500 INR plus 18% GST annually.
• To indulge in trade, you only need to invest INR 30 – 50.
• The platform abides by a rule: PAY ONLY WHEN YOU PROFIT. Bear no charges for loss-making trades.
• With a seamlessly smooth interface, users can easily access both the app and the website, and the interface is user-friendly.
• Take part in Bootcamp, a unique feature that sharpens your skills in trading.
• They maintain a transparent mutual relationship with the users. It does not cover hidden charges.
• The Dial-N-Trade option helps users to interact directly anytime, anywhere.
• You can explore currency trading, community trading, and other areas. Intraday trading is not provided for the NRI account.

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You can access several offered products when you sign up for the Espresso NRI Demat Account.

With a diverse range of investing options, NRI clients can trade and maintain long-term equity delivery and explore other trading solutions.

Besides Equity Options and Future, you can also invest in Mutual Funds. Also, note that commodities and currency trading options are not available for NRI clients.

Explore the app today and start your trading journey at once.

Espresso NRI Trading account holders may not receive assistance if they are into intraday trading options. Here is your chance to opt for future and options trading.

Your demat and trading account also opens up options for initial public offerings. You are indeed in luck if you invest in a private company share.

Unfortunately, services like portfolio management services (PMS) or personalized portfolio creation (PCG) aren’t available for NRI account users.

This trading platform is known for its efficient customer support services. The Espresso NRI support team is reachable via a quick call at 022 6767 0700.

Contact them by phone, and they will help you resolve any doubts. For account opening assistance, directly call 022-67672020.

Also, if you face any issues, they can be best contacted through email. Shoot an email to [email protected] for any complaints.

They are quite responsive over their social media handles, too. Make sure to visit their Facebook and Twitter pages for more details.

If you are still in doubt about how to proceed in opening your demat and trading account, here is a quick list of ways you can access the Espresso NRI App on different platforms.

Espresso App for Android and iOS: You can quickly visit the app store and download the trading app to create an account. A few features that keep the app stand out are,

• User Friendly Interface for beginners.
• Multi-exchange streaming of MarketWatch. This provides detailed knowledge of scrips and contracts.
• Smart trading with easy access to analytical charts, price alerts and customizable watchlists.
• Secured trading with robust security protocols.

Espresso Web Trading Platform: If you are not comfortable using a smartphone to manage your trading account, you can directly log in with your credentials on the web platform.

Here, you can enjoy having all the information on one screen. Manage your stocks, explore smart charts, and see market movers in your customization dashboard.

Here is a quick look into Espresso Advisory for NRI and its new features.

• Stay informed about stocks and their performance with graphs and charts. The technical reports in the booking platform are beneficial for your stock market journey.
• One of the best features of this platform is the stock tips it provides regularly. These tips give you proper insight and help you make appropriate decisions.
• Unfortunately, they do not have features of Fundamental reports or IPO reports. Do not worry; you can contact your relationship manager for detailed advice.
• The most significant benefit of having a relationship manager is that you remain always on track. But, relationship managers are chargeable to users.
• You can even benefit from the automated advice on the website and mend your strategies accordingly.

Espresso NRI Charges

The trading platform issues transaction charges that differ based on different stocks. However, you may also have to bear some hidden costs to maintain your account.

Therefore, you should know about Espresso hidden charges carefully. Here is a list of some standard charges that apply.

• DP Charges of Rs.13.5 per share are included when you are selling a stock.
• YAs per SEBI regulation, Rs.10 per crore is charged for all trading segments.
• Nevertheless, if you decide to discontinue with your broker, you have to bear a charge of Rs.25.
• There is also a reactivation fee of Rs.20 in case you are on a long break and return to your journey.
• Needless to mention, your overall brokerage account always has a GST of 18%.
• If you trade during a call, you are liable to pay a charge of Rs.50 per trade.
• If you want to convert a physical certificate to an electronic version, you need to pay Rs.30.
• These charges are primarily minimal and are mandatory to bear for an account.

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Espresso NRI Account Review – Conclusion

Proper knowledge about a platform is essential before investing even a penny.

A detailed Espresso NRI account review will help you compare the platform with other competitive trading platforms and choose wisely.

The app is rated with a 4+ review in the Play Store. It is undoubtedly a safe and secure platform to initiate your trading journey as an NRI investor.

FAQs on Espresso NRI account Review

Here are various FAQs related to the Espresso NRI Account.

How to Open an NRI Demat Account in Espresso?

You can easily open your NRI demat Account online and offline. Know more about the steps in the review above.

How do you convert Espresso’s account to NRI?

If you have an existing Espresso account as an Indian resident, you can easily convert it into an NRI demat account. The previous account is closed here, and a new account is opened.

What is AMC for NRIs in Espresso?

You only need to bear a charge of Rs 500 plus 18% GST to maintain an NRI trading account.

What is Account Opening Fees for NRIs in Espresso? 

The account opening fee in Espresso for NRIs is free.

Which Assets are Restricted for Trading in Espresso for NRIs?

NRI residents cannot have more than a 10% investment share of an Indian company.

According to SEBI regulations, a maximum of 5% of the company paid up capital on a repatriation (NRE) or non-repatriation (NRO) basis. Also, investments are subjected to TDS,

Can a NRI invest in a Mutual Fund in Espresso?

Being a NRI, you can invest in Mutual funds in Espresso. But for that, you need to have a non-PIS NRI account.

What is the Brokerage for Espresso NRI?

The brokerage rate is Rs.50 per trade for PIS per trade and Rs.30 for non-PIS.

Can Espresso’s NRI Account be opened online?

Yes, you can open an Espresso NRI account online.

What is the Helpline Number for Espresso NRI?

You can contact Espresso for any help or clear doubts through its helpline number 022-67670700

What are the documents required to open an Espresso NRI Account?

Underneath are the documents you will need or must have to open an Espresso NRI account:

• Cancelled cheques
• Self-attested copy of passport.
• Self-attested copy of Indian address proof.
• Salary slips for six months
• Income tax return acknowledgement or Form 16
• Net Worth certificate
• Demat holdings statement