Should I first close my account with Karvy or Pratik?
No, Sebi has given 15 days during which your account remains active. So, before closing your existing account with Karvy or Pratik, open a new one with another DP and transfer your shares to that account. What are the costs I have to incur? DPs do not charge any account opening fees. However, you have to pay an annual account maintenance fee, which again varies across DPs. It would depend on your relationship with the DP. In the case of banks, it would depend on whether you maintain an account with them. I have two demat accounts, one with Karvy and the other with HDFC Bank, which has been directed not to open fresh accounts. Where does that leave me? HDFC Bank has just been instructed not to open fresh accounts. However, the existing account holders can continue to operate them. Thus, you can just transfer your shares from your Karvy account to the HDFC Bank account. This way you won?t have to open another account. Any investor, who has multiple accounts, can just transfer their share
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