Hey fellow traders, is there a private bank account which allows online ASBA facility or UPI for IPO applications in HUF name?
Online ASBA is preferred over UPI.
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Bank of Baroda provides online ASBA facility , open as a HUF bank account
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I am told BOI, HDFC and Equitas Small Finance Bank provide online ASBA for HUF savings accounts.
I will be talking to HDFC & Equitas tomorrow. Will post an update as soon as I can.
Without being biased towards any bank, we see higher success rates for the top banks like ICICI, HDFC, Kotak, Axis and likes. Before building Dhan, I spent good amount of time in payments - even then this was true for PG success rates.
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I agree. Top tier banks have robust payment infrastructure.
On a side note, many people across India faced server down issues on Flipkart where HDFC payment gateway was used. I also faced login issues and debit card payment issue (both HDFC). Hope they fix it pretty soon.
Hi @PravinJ!
I’m in the process of HUF a/c opening with Dhan and hit a roadblock here as the team is asking for a unique mobile number which is different from the number linked to my personal dhan a/c.
Zerodha is allowing to open the HUF a/c with the same mobile number even if we have a personal demat a/c with them.
As you know, just to keep a secondary mobile number active we need to spend around 3000-4000 rupees per annum which is a waste of money as we customers just get no value. Request you to create a process where we can have same mobile number linked with personal as well as HUF a/c as it makes our lives easier.
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Ohh, that is unfortunate. My HUF PAN has been created. I’m in the process of getting a bank account for HUF. Post that I was planning to open an account with Dhan but now I will have to open with Zerodha.
@PravinJ please allow same mobile number for HUF accounts like Zerodha does.
@PravinJ Very bad experience in the opening of HUF account. Was put on hold for more than 10 days for a/c opening and today when I called for an update, informed me that it’s not possible to open a huf account. I’ve already opened the HUF trading account with the kotak securities and the a/c with zerodha is in the process of opening. Don’t understand why it’s not possible with Dhan. Hope @PravinJ you look into the issue as I have very good experience with Dhan with my individual account and would like to have HUF account with Dhan only.
That’s very unfortunate. Any reason Dhan provided? I hope you get to open your account with Dhan soon.
I am yet to receive my chequebook for my HUF account, once I receive I will also open an account. However, Dhan doesn’t allow the same mobile number, so I have to choose whether to buy a 2nd sim or go with Zerodha.
May I DM you for some discussion on HUF etc.?
Yes sure.
@PravinJ Expecting some solution here, please.
Hi @svineels Request you to forward details on feedback@dhan.co or share with @ravimukherjee. We will review this.
Yes, for now - we require unique mobile numbers.
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Thanks. Will be following up with @ravimukherjee.
Request you to provide an option of using the same mobile number in future please.
Just opened HUF account month back with Dhan.it took more then 3 weeks due to CKYC issue.Have bank account with Kotak.
Shifted plan to open HUF account with Angel Broking. Completed the process today. Will come back to dhan when they accept same mobile number for HUF accounts as well and have someone knowledgeable on the HUF onboarding team. There’s room for improvement here.
My experience with HUF demat account so far:
Decided to use my 2nd sim for HUF demat with Dhan. Couriered them the printed & signed account opening form on 22nd Oct. It reached their office on 25th Oct. Got an SMS on 31st that my UCC is being registered with exchanges and finally on 4th Nov, I received email from Dhan that my account is ready to trade.
@Divyesh I have mentioned introducer name in my HUF AOF (myself only). Mentioned my individual account UCC id also to avoid confusion. But Dhan email support team tells me it’s not mapped under any referral. Can you help me here?
Got to know that enabling DDPI for HUF account costs Rs. 500 + GST. Have to wait for Dhan to send some docs and then send them back after signing. Wish it could have been signed during account opening time only. Would have saved time + some money.
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