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FAQs

Broking FAQs

Q.
My HSBC InvestDirect Securities (India) Ltd (HISL) broking account is linked to a non-HISL de-mat account. Is there any impact to my non-HISL de-mat account due to the closure of my broking account?
A.
No, your non-HISL de-mat account will be unaffected by the closure of your HISL broking account. However, to buy and sell shares, you will need to link another broking account to your de-mat account.
Q.
Are there any tax implications for me because of my HISL trading and de-mat accounts being closed?
A.
Please do consult a chartered account for information on the tax implications if any.
Q.
Can I retain the de-mat account with HISL though I understand that the broking services are discontinued?
A.
No. Both retail broking and de-mat business of HISL have been discontinued from 03 December 2013.
Q.
I have an IL&FS Securities Services Limited (ISSL) de-mat account for which charges (including Annual Maintenance Charges) are settled through my HISL broking account. Will this continue?
A.
DP charges will not be settled from your HISL trading ledger balances and you will be required to directly settle the same with ISSL.
Q.
I have been introduced by your empaneled Sub-broker/ Authorised Person/ Referral Agent. Can I handover documents or place request / queries to the said intermediaries?
A.
As part of the discontinuation process, termination of arrangement with sub-broker/ authorized persons and referral agents is also under progress. In view of the same, please route all your queries or service requests directly to the customer care team.
Q.
Can I access my statements / ledgers online ?
A.
Yes, you can type the following URL https://www.trade.hsbcinvestdirect.co.in/ and access your statements by using your login ID and Password.

De-mat FAQs

Q.
I have a de-mat account with another Depository Participant. Can I transfer my shares from the HSBC InvestDirect Securities (India) Ltd (HISL) DP to my other de-mat account?
A.
Yes, you can transfer the shares through a closure-cum-transfer form or by executing a Delivery Instruction Slip for an off-market transfer.
Q.
Will I be charged for transferring my de-mat holdings to another Depository Participant?
A.
There will be no charges for transfer of shares through a closure-cum-transfer to any other de-mat account with the same holding pattern as your HISL de-mat account - i.e., the recipient de-mat account should be in the same combination of names and in the same order as in your HISL de-mat account. You need to however clear your pending dues (if any) at the time of submission of Account Closure Request.

Steps:
1. Fill in the attached Original Account Closure Form
Tick Closure Initiated by BO
"Reason for closing the account?: To be filled as "Closure of Depository Participant"
"Balance remaining (if any) in the account": Check box to be ticked - "Transferred to another account"

2. Client Master Report (for the DP a/c to which the holdings are being transferred) duly attested by your Depository Participant, to be sent in along with the Account Closure Form. In case you do not have any other demat account, you may visit the SEBI website for details of Depository Participants.

In case the holding pattern in the account you are transferring the shares is different, you would need to do an off-market transfer through submission of executed Delivery Instruction Slip (DIS). Please do consult a chartered account for information on the tax implications, if any.

We request not to hand-over any blank Delivery Instruction Slips/ blank Cheques for transfer of de-mat holdings/ settlement of dues to anyone representing/ claiming to represent HISL. Please do ensure that all details are properly filled and in case of cheques / DIS, these are drawn in favour of "HSBC InvestDirect Securities (India) Limited".

Q.
Can I retain the broking account with HISL though I understand that the de-mat services are discontinued?
A.
No. Both retail broking and de-mat business of HISL have been discontinued from 03 December 2013.
Q.
How much time will it take to transfer securities to my other de-mat account?
A.
For free balances, the transfer process will be completed within five working days of receipt of the transfer instructions and clearance of dues, subject to adherence to requisite procedures.
Q.
What will happen to stock that is lying in my de-mat account and has a lock-in/pledge?
A.
You would need to provide a closure request along with the attested Client Master Report (CMR) copy for transfer of lock in shares. The request will be sent to the Registrar and Transfer Agent (RTA) for transferring the lock in shares to your designated de-mat account as requested in the closure letter.
Q.
My de-mat account is dormant and I need to transfer the shares lying in the account.
A.
Please provide the closure request letters along with the CMR copy (Client Master Report) for closing the Demat account and getting the securities lying in your account transferred to your other Demat account with any other DP.
In case you do not have any other Demat account in your name with other DP and wish to transfer the shares to Demat account of any other person, please provide the Delivery instruction slip (DIS) along with the closure request letter.
Q.
What if I have not been able to transfer my securities to another de-mat account before the required date?
A.
All securities in the account may be frozen on the surrender of the HISL DP license. Therefore, we strongly recommend that you transfer your securities at the earliest.

FAQs in respect of investment in mutual funds and insurance

Q.
I have invested in mutual funds through my WMS account with HSBC InvestDirect Securities (India) Limited ("HISL"). What will happen to my account?
A.
Your investments will not be impacted in terms of NAV or any other features.HISL was acting in the capacity of sub-distributor of The Hongkong and Shanghai Banking Corporation limited ("HSBC"). The said arrangement has been discontinued . You would continue to be serviced directly including receiving periodic statements by the respective AMCs.
http://www.hsbc.co.in/1/2/miscellaneous/call-us
Q.
I do not have a WMS account but I have invested in mutual funds through HISL. What will happen to my investments?
A.
Your investments will not be impacted in terms of NAV or any other features.You would continue to be serviced directly including receiving periodic statements by the respective AMC. We however request you to approach your AMCs on an immediate basis to transfer the broker code to another distributor or change the broker code to "Direct". We have communicated to AMCs to change the broker code to "Direct".
Q.
How do I redeem / switch my Mutual Fund investments?
A.
You may approach the AMC directly and submit a written request for the same. You may also approach distributor of your choice basis completion of appropriate modalities and servicing arrangement
Q.
I hold an insurance policy from Canara HSBC OBC Life Insurance Co. Limited, bought through HISL. How will I be serviced?
A.
You are kindly requested to get in touch with following personnel of the Insurance Company.
Toll-Free Numbers (from 8 am to 5 pm): 1800-180-0003 (BSNL/MTNL) or
1800-103-0003 (Other service providers)
Customer Service Email ID: customerservice@canarahsbclife.in ; OR write to

Ms. Amruta G, Head - Policy Servicing Department
Email: amruta.g@canarahsbclife.in
Phone: +91 124 4535000 Ext. 5311
Address: Canara HSBC OBC Life Insurance Co. Ltd.
Unitech Trade Centre, 2nd Floor, Sushant Lok,
Phase - 1, Sector - 43, Gurgaon, Haryana - 122 009