HELP & SUPPORT

Account Opening

Process
What documents do I need to open an account with Punch?

To open an account with Punch, you'll need your Aadhaar number, linked phone number, PAN card, and income proof documents like bank statements or salary slips.

  • Your Aadhaar number and the phone number linked to it
  • Additional documents like PAN card, if not available on DIGILOCKER
  • For income proof, you will need a Bank or DP statement, or alternate documents like salary slips, Form 16B, or an ITR acknowledgment

Step-by-step process of opening an account

Register and open your Punch trading account in four easy steps: Sign up, verify, get approved, and start trading securely and quickly.

 

Step 1: Registration

 

  • Download Punch and register with your Gmail account and phone number.

  • These will be used as your credentials for the trading and demat account, so make sure to use your primary contact details for registration.

 



 


 

Step 2: Opening a Demat account

 

  • Tap on “Open DEMAT Account.”

  • Have your Aadhaar number and linked phone number ready for OTP verifications.

 

 

  • Complete the following verification steps:

    • Personal details

    • Bank verification

    • Aadhaar verification

    • Photo verification

    • Signature verification

    • Income proof submission

 


 

Step 3: Approval Process

 

  • After submitting your documents, our team will process your application by performing customary sanity checks and verifying the existing details with KRA. If necessary, we will update your details with KRA. As KRA also verifies the details, this process may take 24-48 hours.

  • Once approved, your account will be activated, and you’ll be ready to trade on Punch.

  • You can check your account status on the activation page of the Punch app.

  • You will receive notifications about your account activation via WhatsApp and email.

 

 


 

Step 4: Start Trading

 

Once your account is approved, a “Start Trading” button will be seen on the activation page.

 

 

Tap the button and set a 4-digit PIN and biometric identity for two-factor authentication.

Log in, add funds, and you’re ready to start trading.

 

Linking bank account

Link your savings bank account to your Punch trading account for secure transfers and withdrawals. Verify quickly via UPI or manually to start trading.

 

How do I link my bank account on Punch?

  • As a first step, you will need to link your savings bank account to your trading account; this will be your primary account for transferring and withdrawing funds.

  • Currently, Punch only supports savings bank accounts, not current bank accounts.

  • During account opening, you'll be asked to link one bank account, but you can add a secondary bank account once your Punch account is activated.

 


 

Why do I need to link my bank account?

  • Linking a bank account ensures that your trading funds can move between accounts securely.

  • Verification via a penny-drop check confirms that your account is active and correctly set up.

 


 

How do I verify my bank account on Punch?

  • Verification can be done via a penny drop where Punch either deposits or requests ₹1 from your account.

  • You can choose between UPI verification, which takes about  30 seconds, or manual verification if you don’t have UPI, by entering your bank details.

 


 

Tips

  • We recommend using UPI for faster, easier bank verification.
  • Make sure to link your primary savings or salary account to ensure sufficient funds for trading.
  • Consider adding a secondary bank account after your primary account is activated for extra flexibility.

 

Aadhaar verification

Punch requires Aadhaar verification as mandated by SEBI to prevent account restrictions or closure. Use DigiLocker to securely fetch Aadhaar and PAN for registration.

 

Why do I need to verify my Aadhaar?

As per the regulations of the Securities and Exchange Board of India (SEBI), it is mandatory to link Aadhar with a trading & demat account. Not linking Aadhaar can lead to restrictions on transactions or even closure of the account.



 

What is DigiLocker?

Digilocker is a digital storage platform launched by the Government of India. It securely stores various documents like Aadhaar, PAN, driving license, voter ID, and academic mark sheets online.

 


 

How can I get PAN and Aadhaar details from DigiLocker?

  • To simplify account opening, we fetch your Aadhaar and PAN details directly from DigiLocker.

  • This method is secure and saves you the trouble of manual entry.

  • If DigiLocker contains only one of the two documents, you will need to manually enter the other to complete verification.

 

Adding a nominee

Why should I add a nominee?

Adding a nominee to your trading and demat account ensures that your securities are smoothly transferred to your designated beneficiary in the event of your demise, simplifying the process for your heirs.

 




How many nominees can I add on Punch?

  • You can add up to three nominees to your Punch  account.

  • You can specify the percentage share each nominee receives, such as 50%-50% or 30%-30%-40%.

 


 

Whom should I nominate?

  • It's advisable to nominate your next of kin—such as a parent, spouse, or children or anyone else

  • Minors can be nominated with the required additional documentation.

 


 

Can I add a nominee after completing the account opening process?

  • Yes, you can choose to add a nominee during or after the account opening process.

  • To add later, fill out the nomination form and email it to writetous@punch.trade

 


 

What documents do I need to add a nominee on Punch?

  • You will have to provide the full name and relationship with the nominee.

  • You may add additional identity proof of the nominee, such as Aadhaar or driving license, but this is not mandatory for the nomination process.

  • If the nominee is a minor, you will need to include the guardian’s name, relationship, and identity proof.

 

Photo and signature

Things to remember when taking a photo

  • Use a white background for your selfie.

  • Ensure your face is free of obstructions such as hats, glasses, or masks, and that it is not cropped.

  • Choose a well-lit environment.

  • Look for the green circle in the app to guide your positioning.

 


 

Things to remember when submitting a signature

  • You have multiple attempts to perfect your signature.

  • Your signature should match the one on your bank account or Aadhaar.

  • Make sure your signature is clear and legible.

 

Income proof submission

Why do I need to submit income proof?

  • Punch is an options-only platform, requiring an F&O trading account.

  • SEBI regulations mandate submitting at least one income proof for F&O account verification.

 


 

Which documents can I submit as income proof?

  • You can submit one of five different types of income proofs:

  • Bank statement (past 6 months)

  • DP statement (past 6 months)

  • Salary slips (past three months)

  • ITR Acknowledgement (most recent year)

  • Form 16B (most recent year)

  • We've partnered with OneMoney, an RBI-licensed account aggregator, to automatically fetch your bank or DP statements. One Money is a licensed Account Aggregator which ensures that the financial data is shared over a secure route with end-to-end encryption between intermediaries and user’s accounts.

  • If automatic fetching is not possible, you can manually upload salary slips, ITR acknowledgements, or Form 16B.

 


 

What is the minimum criteria for Bank and DP statement?

  • Bank statement: A credit transaction of at least Rs. 10,000 in the last six months.

  • DP statement: Stock holdings worth at least Rs. 10,000 in your current DEMAT account.

 


 

How do I submit DP statement?

  • Through our partnership with OneMoney, you can fetch your DP statement directly using your Aadhaar number.

  • Tap on the ‘DP Statement’ option and continue with the given steps.

  • While it typically takes about 30 seconds, server issues at the depository can cause delays.

  • Make sure your holdings meet the minimum criteria of Rs. 10,000.

 


 

How do I submit bank statement?

  • Through our partnership with OneMoney, you can fetch your bank statement directly using your Aadhaar number.

  • Tap on the ‘Bank Statement’ option and continue with the given steps.

  • While it typically takes about 30 seconds, server issues of the bank can cause delays.

  • Ensure your account has a credit transaction of at least Rs. 10,000.

 


 

If not DP or bank statement, what else can I submit as income proof?

  • If there are issues fetching your bank or DP statement, you have three alternatives:

  • Submit your 3-months' salary slips; or

  • Most recent ITR acknowledgement; or

  • Most recent Form 16B

 


 

Can I manually upload my 6-month bank statement?

  • No, manual uploads are not available.

  • We use OneMoney (an RBI licensed account aggregator) to automate statement fetching, reducing errors and delays.

  • To make the process simpler, faster and more convenient for you, we recommend using the auto-fetching feature on Punch.

 


 

What if I don’t submit an income proof?

  • Punch is an options-only platform, so income proof is required to comply with SEBI regulations.

  • However, if you haven’t submitted an income proof, we will still process and activate your equity segment under your Trading and Demat account.

  • You will be able to submit your income proof any time in the future to activate F&O segment for trading.

 

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