Can an existing account holder open an account for a family member or friend using their registered mobile number and email ID?
Can an existing account holder open an account for a family member or friend using their registered mobile number and email ID? Find a clear answer in this FAQ by 021 Trade.
No, an existing account holder cannot open an account for a family member or friend using their own registered mobile number and email ID. Each trading and demat account must be linked to the unique mobile number and email ID of the respective account holder. This ensures that clients can directly receive and track all communications and reports from exchanges, depositories, and 021 Trade.
However, clients may use their existing contact details to open a non-individual account—such as a HUF, partnership firm, or corporate account—provided they are authorized to represent the entity.
