What is a Dormant Account?
A dormant account is one that has had no trading activity for 365 consecutive days. In such cases, the exchanges consider the account dormant and mark it as inactive. To reactivate a dormant account, you need to verify your Know Your Customer (KYC) details.
Why you need to keep your trading account active and not dormant:
Regulatory Compliance: Maintaining an active account ensures compliance with SEBI regulations and KYC norms, helping to avoid potential issues or penalties.
Smooth Access to Services: Regular activity helps keep your account information up-to-date, ensuring seamless access to trading services, tools, and support provided by FYERS.
Investment Opportunities: Staying active allows you to take advantage of market opportunities without delays caused by account reactivation processes.
Ease of Transactions: Regular use of your account keeps your KYC information up-to-date, making any future transactions smoother and faster.
If your account is in dormant status, kindly refer to this article for the reactivation process.
Related Articles
Why was my trading account reactivation application rejected?
If your offline application for reactivating a dormant account has been rejected, it may be due to any of the following reasons: Recent, clear photograph not attached. Documents not self-attested. KYC form has scratches or markings. Required fields ...
How to unfreeze my trading account?
If your account is frozen, you can unfreeze it by following these steps: After logging in, click on Unfreeze Account. You will receive OTPs on your registered email and mobile number. Enter the OTPs in the respective fields to verify your request. ...
How can I add or update bank account details in my FYERS account?
Adding a secondary bank account to your FYERS Trading account is straightforward. Here's a step-by-step guide: Navigate: Sign in to the 'My Account' Portal. Head to the ‘Manage Account’ section. Here, you'll see your current bank details. To add ...
How does voluntary freezing of trading account work?
Voluntary freezing of your FYERS trading account allows you to temporarily disable the online access to your account along with all trading activities. This ensures that no one can access your account and no trades can be executed until the account ...
How to close only my trading account with FYERS?
To close only your trading account (without a Demat account) with FYERS, follow these steps: Fill out the Closure Form: Complete the Account Closure Form. Ensure all details are filled out in block letters in English. Courier the Form: Send the ...