This is about Upstox:
When i opened an account, they automatically credited an ETF (1 quantity, 50/-), without telling a reason. Who complains when you get a freebie anyway. Till you want to close the account.
They won’t let you close the account till you have a holding in your account. If you are like me and never used Upstox, and your account is dormant, you will have to do EKYC again, then sell the freebie to close the account. Sell an ETF that you didn’t buy in the first place !
This is a great strategy because it stops inactive and dormant accounts from going out by creating another layer of deterrence. Those who use the platform are less likely to close it anyway.
Is it because the number of account holders matter when they go to an investor for financing.
Transparency is the biggest reason why i like Zerodha.
In my free time, i will do the KYC again to close this account for sure.
| Subscribe To Our Free Newsletter |
