my friend the other day said to me that he was trying to open an account a d-mat account with some broker and he said such a lengthy and a tiring and a boring process he said I'm not even understanding what I'm doing I said what's the problem like it can be done in like less than two minutes he said Russian are you trying to compare opening a d-mat account with cooking Maggi award like will be done in two minutes I said interesting comparison I personally feel that opening an account can be done quicker than preparing Maggie what do you feel but and I welcome you all to a unique competition Maggie vs. d-mat account open right but the moment I said
this I'm sure everyone might be starting to do their own calculations as to a will be done first or B will be done first but did anyone of you try to visualize that maybe we'll get to learn something new sounds familiar to the three idiots dialog man yes I intended to say that so I am NOT going to just tell you how to open an account with a broker but because I saw many videos which said click this you need this and then go to next and then press this and put in your email id and OTP and what yeah I know I mean that is step by step how to open an account but I feel that there is a there is something to learn in each and everything we do in our lives so let's try to understand that on
what rationale on what basis is the entire account opening process setup first of all let's understand if you were to open a d-mat account in a physical format what you would have done number one you would have received a physical form then what would you be doing you would be filling up the basic details like name maybe like a mobile number your other number your mother's name all the basic details you would be filling up right that would be step number one filling up the basic details step number two then what would you be doing you would have attached the photocopies we call it a Xerox copy sometimes photocopies of what an other all these basic
details write which are like the name proof under is proof maybe you would have attached a blank check which is of course a cross-check maybe a bank statement you would have attached so we would have taken photocopies of this and then we would have attached them as a name proof or an address proof right so that would have been the step number two step number three I feel that after filling the filling of the form I would have signed it the form so after signing what would have been the last thing is I would have fixed my photograph on the on the form
if you know what used to happen earlier was that there is something wrong as an IP VIP vision in percent verification after finish up the entire form a person from the brokers brokers office used to come to visit in person to see that you yourself are the person who is submitting the accounts just to ensure the authenticity of the account opening it should not happen that my documents have illegally gone to someone else I mean someone is possessing my accounts without my knowledge and he or she is trying to open an account without my knowledge so
so to avoid such a situation IPV in-person verification used to be done in this way then after filling up the form number one after attaching the requisite documents number two after signing it after fixing my photograph the broker's person used to visit me he is to collect the form and he was to do an in-person verification use to ask me that this is this where you stay this is earnest your documents are you aware that you are opening this account and all that right now this used to be a pretty lengthy process
of course it is done even today but could there be a better substitute yes and that is what we talked about in e-comm doping process now what happens in an account opening process step let's compare one by one number one you would have filled your basic details as step number one while filling up the physical format now here what are you going to do you're going to type out your basic details like your name your other number your mail ID your mother's name all these details now we'll type out step number one completed step number two where you
used to attach or staple your big other cursor expands the rocks and all that photocopies I mean instead of stepping those photocopies to your main form what we are going to do now we are going to attach the PDFs of all these documents attach PDFs of other your a pan and your bank statement all that right after that is done we used to sign the form physically now what we want to do we are go to e sign the form okay for e signing the form you might be aware
that there's something known as a digital signature okay but not everyone might have their own digital signature and that is why many brokers have tied up with some other entities who would help them to assign so just as an example dgo is one of the service product providers who provide the service of signing the form okay so now what does happen understand you have filled in the details basic details you have filled in you have attached to the PDFs of all these documents so step number two done step number three instead of signing I have done an e signing
and last point was broker person used to visit me for an IP V in person verification now instead of that what can be done instead of that now it is done now the IP V is done by giving an access to your webcam okay we give an access to the webcam and just to ensure that it's me who is allowing to do it and OTP will be sent to your registered mobile number or your registered email id you have to write down that OCO t p on a piece of paper and you have to show
it like some prisoners show their badge number I have to pose in front of the camera showing that OTP right so that is then e IP v e in person verification now that you have understood the process very nicely now the challenge can be started we are not going to rush in that whether Maggie first or whether account opening first that will be done okay but
understanding the entire process of account opening I personally feel is very important you might have seen in many cookery shows that a chef generally has a nice preparation of whatever dishes go to prepare so similarly before opening the account what do I want to do is we are going to have all the preparation ready with us and what is the preparation here you can see that I have a folder ready with me the folder has five documents one is other card PDF
my bank statement ensure that the other card does not I mean is not password-protected okay so it has to be an unprotected other card PDF second one is bank statement six months third one is a canceled check fourth one is your pan card copy and the last one is signature now what is the signature signature is nothing but take a blank paper sign on that scan it and keep it ready with you okay these days you can just have any I mean n number of apps also
which allow you to scan any document with a normal mobile phone as well okay so keep all these documents ready and then let's start with the account opening process so now let's quickly get started on how to open an account with Xero though I am here on one of my youtube videos go to the description box and your you will see the link to open an account as click from this and that's where we go to a new page I just have to enter my mobile number I said received an OTP on my mobile okay so I'm entering the OTP I have to send up
the full name followed by the email id one more point abundant if it's not in your primary it could be an updates so here I've got an OTP here I'm gonna put that OTP just to ensure that it's me who is opening] we have filled out the basic details [Applause] okay yes the payment is already successful now so let's move on like fill up some additional details the bank details [or people of the basic details check all these boxes wherein we mentioned that we are the resident of India and we do understand some basic things and then click on continue here you have to attach a scan of canceled checkthen for incompetence I'm choosing six months bank signat you need a verification test will be not facing \so just in case if your other number is not working mine was not working right now let's try to diffuse this okay profile has been successfully verified that's it sign now one more time and yes I got a message with states that yes we have received your form for opening a zero the phone so just in case if you apply for the commodity and F&O section also we just need to repeat this entire assign process and then that so who won finally was it Maggie or was it opening an account with viola actually I won this amazing experience of number one computing my shuru task of zeros account and enjoying hot and I ate this awesome weather but honestly is more guys opening an account with zero that is actually very very very easy so you can immediately open your account which the state's network so don't forget to click on that link the process which I've told you I hope you enjoyed my video let me enjoy my Maggie till then giant you
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