Wednesday, June 21, 2017

Opening a new account with rksv/upstox

Today I will give you the process to open a new account with upstox also called as rksv earlier without sending any forms by post by sitting at the comfort of your home. As you might be already knowing, upstox is purely for stock market transactions(discount broker they call) and it charges very low(dead low) compared to your banks.

You can simply goto and hit signup to follow the process. But before you do that, you need to have below things mandatory:
  1. A cheque book
  2. PAN card
  3. Last filed ITR form/Last three months payslip/Bank Statement
  4. Aadhaar card linked with the mobile number you are giving
The cheque book should contain your name and should match with the bank account details you give. Make sure you have internet banking account also for the bank account details you are giving. This is because you can only add money to your upstox account(more about add money latter) or withdraw money from your upstox account into that one bank account only. It is impossible to do it from another bank account.

Now follow the process in the website. At the end of the process it asks you to upload video of you holding pan card close to your face. Some times it doesn't work. But don't worry, just hit submit. They will latter share one whatsapp number with you to share the video, if you didn't attach the video before. Any doubts, please comment below, will answer within 24 hours.

Note: Adding money to your upstox account means, transferring money from your bank account to upstox account. You cannot directly use your bank money to trade in stock market.

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