Complete Guide to Angel Broking KYC in Hyderabad: A Step-by-Step Process

Introduction

Angel Broking, a leading stockbroking firm in India, adheres to strict regulations set by the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI). As part of these regulations, Angel Broking is required to conduct a Know Your Customer (KYC) process for all its clients to ensure their identity and prevent financial fraud. This comprehensive guide provides a step-by-step explanation of the KYC process for Angel Broking in Hyderabad, ensuring a hassle-free and compliant experience for new clients.

Understanding KYC Requirements

KYC helps financial institutions verify the identity and address of their clients. This process aims to prevent money laundering, terrorist financing, and other financial crimes. The following documents are required for KYC:

• Identity Proof: PAN card, Aadhaar card, Voter ID card, Passport
• Address Proof: Utility bills (electricity, gas, water), Bank statement, Ration card, Lease agreement

Step-by-Step KYC Process

1. Account Opening:

• Visit the Angel Broking website or download the Angel Broking mobile app.
• Click on "Open Demat Account" and enter your basic details.

2. In-Person Verification (IPV):

• Schedule an IPV appointment through the app or website.
• Visit the designated Angel Broking branch in Hyderabad with your original KYC documents.
• A representative will verify your documents and capture your photograph and signature.

3. Video Call Verification (VVC):

• If you are unable to visit a branch, you can opt for VVC.
• Download the Angel Broking VVC app and schedule a video call appointment.
• A representative will conduct a live video call and verify your documents and appearance.

4. Document Submission:

• Scan or take clear photographs of your KYC documents.
• Upload the documents securely to the Angel Broking portal or app.

5. Biometric Verification:

• If required, you may need to provide biometric verification by visiting an authorized Angel Broking branch.

6. KYC Approval:

• Once your documents are verified and approved, Angel Broking will send you a confirmation email or SMS.
• Your account will be activated, and you can start trading.

Additional Information

• Minor Accounts: Minors below 18 years can open a Demat account under the supervision of their guardian. The guardian must provide their KYC documents along with the KYC documents of the minor.
• NRIs: Non-Resident Indians (NRIs) can also open an Angel Broking account. They must provide an attested copy of their passport and Overseas Citizens of India (OCI) card or Person of Indian Origin (PIO) card.
• Foreign Nationals: Foreign nationals residing in India on a valid visa can also open an Angel Broking account. They must provide a copy of their passport and visa along with their KYC documents.

Stories of KYC Humour

Story 1:

A man goes to a bank to open an account.
Teller: "We need to do a KYC check."
Man: "Okay, knock yourself out."

Moral: Always cooperating with KYC procedures.

Story 2:

A woman applies for a credit card.
Bank: "What is your husband's income?"
Woman: "I'm a widow."
Bank: "In that case, what was your husband's income before he passed away?"
Woman: "He died in a car crash."

Moral: KYC questions can sometimes be unexpected.

Story 3:

A man is filling out a KYC form.
Form: "What is your occupation?"
Man: "I'm a comedian."
Form: "What is your income?"
Man: "It's funny, you have to ask."

Moral: A sense of humor can lighten up the KYC process.

Tables: KYC Documents

Tips and Tricks for KYC

• Ensure your documents are clear, legible, and up-to-date.
• Scan your documents in high resolution (300 dpi) if uploading online.
• Keep a digital copy of your KYC documents for future reference.
• If you have any questions or difficulties, contact Angel Broking customer support.

Common Mistakes to Avoid

• Do not provide false or misleading information.
• Do not use photocopied or laminated documents.
• Do not upload documents that are blurry or difficult to read.
• Do not submit expired documents.

Pros and Cons of KYC

Pros:

• Prevents financial fraud and money laundering.
• Protects customers from identity theft.
• Ensures compliance with regulatory requirements.

Cons:

• Can be time-consuming process.
• Requires submission of personal information.
• Can be inconvenient for those without easy access to KYC documents.

Call to Action

If you are planning to open a Demat account with Angel Broking in Hyderabad, follow the step-by-step KYC process outlined in this guide to ensure a smooth and compliant experience. By completing KYC promptly, you can unlock a world of financial opportunities and start your investment journey with confidence.