Can I deposit funds from a friend or relative's bank account into my trading account?
No, as per SEBI regulations and FYERS policy, only bank accounts registered in your name can be used to deposit funds into your trading account. Transfers from accounts held by others—even close family members—are strictly not permitted.
Why Third-Party Transfers Are Not Allowed
- Regulatory Compliance: SEBI mandates that trading account funding must originate from the account holder's own verified bank account.
- Identity & Ownership Verification: This rule helps prevent fraud, money laundering, and misuse of trading accounts.
Transfers made from unlinked or third-party accounts will be automatically refunded within T+2 working days to the source account.
What if…
| Scenario | What you can do |
|---|
| You transferred funds from a relative’s account | Wait for automatic refund (within 2 working days). |
| You want to use another personal account | Add and verify it as a secondary account in FYERS. |
| You need to fund urgently | Use one of your already registered bank accounts. |
Last updated: 12 Jun 2025