So I opened some family accounts with Dhan and I believe here are few things (summarized tips) that everyone should consider doing after opening DEMAT and Trading account with Dhan (or any other broker).
Your account is considered ready when you receive an email from Dhan that your account is ready!
Go to your Dhan Profile and scroll down and add Nominee(s). You can add up to three nominees. Currently it seems you can do this only via Dhan mobile app and not via Dhan Web (browser based), so use Dhan mobile app to add nominee(s). Nominee addition takes about one or two days.
If you have multiple bank accounts then it is a good idea to add them too. You will find Manage Bank under Money section. Add your additional accounts there. It takes a day for completing bank verification. This way you can transfer funds directly from those bank accounts to Dhan. Helpful when your primary bank account has less funds OR primary bank account internet banking is down.
CDSL EASI ACCOUNT:
Open (register) an EASI account by going to CDSL website (https://web.cdslindia.com/). This has some good features with good user interface. Skip the grouping part when registering, we will do this later.
VERIFY DEMAT DETAILS AND PROFILE UNDER EASI:
Once your EASI account is registered. Login to EASI and under Miscellaneous, click and verify all the data mentioned under two things:
- View DEMAT details
- Edit Profile
CDSL DEMAT GROUPING: (if you have more than one DEMAT account)
Once your EASI account is registered. Login to EASI and under Miscellaneous, you will find Edit Grouping option. Go to that option and add your other DEMAT accounts (must be owned by you).
This feature helps you see ALL DEMAT accounts under one single CDSL EASI account instead of requiring you to create different different EASI accounts for different different DEMAT accounts.
GENERATE CDSL e-DIS TPIN: (also see EASIEST PIN below)
Once your EASI account is registered. Go to CDSL e-DIS website for TPIN (https://edis.cdslindia.com/) and generate your TPIN. This will be required whenever you sell shares. (Unless you go for DDPI agreement with Dhan, the broker)
UPGRADE EASI TO EASIEST ACCOUNT:
Once your EASI account is registered. Login to EASI and under Miscellaneous, Upgrade BOID to EASIEST. Do not add any trusted account yet (we will do this later). Wait for DHAN to approve your upgrade to EASIEST. (it may take one or two days).
EASIEST has more features than EASI. (Google for details). This option mainly allows to transfer holdings to trusted accounts without filling paper DIS. (Delivery instruction slip)
TRUSTED ACCOUNTS: (optional step)
Once your EASIEST account is activated (EASI is upgraded). Under Miscellaneous, go to Edit Trusted accounts and add other DEMAT BOIDs whom you trust. (To which you may want to transfer your holdings easily in future - say as gift or off-market sell). You can add maximum 4 BOIDs. Once added, wait for Dhan to approve them. (it may take one or two days).
CHANGE EASIEST PIN: (not to be confused with e-DIS TPIN)
Once your TRUSTED account(s) are approved by Dhan. You will receive email which will contain EASIEST PIN. (it is different PIN from e-DIS TPIN). Then under Miscellaneous, go to Change Pin and change your PIN. This PIN will be required when transferring shares to trusted accounts via EASIEST.
Once your EASIEST account is activated. Under Miscellaneous, go to Edit Notification type, and enable all Notifications listed there (I got 3 types of event notifications which I could checkmark). This way CDSL will send you notifications for the event types that you selected.
DOWNLOAD YOUR AOF AND CMR: (and optionally, other documents)
Once all of the above steps are done, wait for period of 2-3 days till everything is updated everywhere. Lets call it a buffer period. In the mean time CDSL will also send you email about all the modifications done above.
After buffer period of 2-3 days, go to your Dhan Profile and under My Documents, download your copy of AOF (Account Opening Form) and CMR (Client Master Record) - both are very important for your records. There are other documents too, which you can download and verify if required. Documents will come to your registered email in one or two days.
After you download the latest CMR, make sure that all details are correct. Especially the nominee(s) that you updated earlier.
So that is all!
Hope above helps all the new and existing users.