Yes. As per the new regulations, users and investors have now the flexibility to open their demat account via WhatsApp itself. WhatsApp is one of the most popular messaging platforms. Not only does it allow you to socialize, but it also can be used for a wide range of other things. It has moved beyond the possibility of being a social media app and can now be used for opening bank accounts, demat accounts and more.
WhatsApp introduced the WhatsApp payment feature that allows people to send and receive payments via UPI. WhatsApp has partnered with NPCI for regulating the process of opening a bank account and demat account easily.
How to open a demat account in WhatsApp?
With the latest changes in the regulations, it has become extremely easier to open a demat account. If you are opening the demat account via WhatsApp, here are all the steps you need to follow:
- Save the WhatsApp Number of the broker from whom you want to open the account.
- Enter the message that you want to open a WhatsApp account.
- Enter the WhatsApp number, email address.
- You will receive an OTP. Verify it.
- You will be redirected to a new page for completing the account registration process.
How to invest in an IPO via WhatsApp?
Investing in IPOs via WhatsApp has become easier as well. Some of the common steps to follow for the same include the following:
- Send a high message to the WhatsApp number of the account where you want to open the demat account.
- Once your demat account is ready, check the IPO option.
- Enter the OTP that you receive in the registered number.
- Choose the IPO you want to subscribe to.
Security isn’t an issue
Security over Whats app has always been a major concern. Many platforms are providing the benefit of not sending any documents via WhatsApp. This helps to save you against the risk of any data theft. This is done to ensure the safety of the users. The users can however share the documents via email or upload in the portal itself. Many companies still accept mail of the documents.
Quick understanding of documents required to open a Demat account.
