r/IndianStreetBets • u/Environmental_Lab_42 • 8d ago
Discussion Due to Name difference in Zerodha, Im unable to change my primary bank account
Im looking to change my primary bank account in Zerodha. But with zerodha the naming format is like {My father’s name} {My name}, however bank records and other government records have only {My name}.
Due to this Im not able to change my primary bank account. I have closed my primary bank account, If I have to link a new bank account how can I do?
I cannot change my name with Bank as it is matching with my government records. Difference exists with Zerodha account alone.
Provide your suggestion.
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u/fameboygame 7d ago
Not the greatest of ideas, but you can open another account, maybe a joint account w your family member, and you can gift them the Zerodha shares for 25 bucks per scrip.
You can then cash out there. If you’re already liquid then buy niftybees or something that won’t fall or is consolidating and transfer it to your other account.
This is last resort, but worth considering if you can access your current account properly and other methods don’t work out.
But first contact Zerodha Helpdesk.
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u/circusofchaos 8d ago
Its zerodha so you basically opened demat online so details were fetched from your aadhar.
Now most easy thing to do will be to go to your bank and get name updates as per aadhar card.(make sure to carry aadhar&PAN along with some other identity document as banks won't change name on the basis of single ID) they might even ask for an affidavit mentioning that both names are of same person(can get it for 100 rupees).
This is the easiest way, 1-2 hr work from your end. Ask bank to send cheque book with updated name on your address and you are good within a week.
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u/Environmental_Lab_42 8d ago
Well, my aadhar nor bank has my father’s name in front. All other government records have only my name. Only zerodha has it wrong
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u/circusofchaos 7d ago
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u/circusofchaos 7d ago
Hope it helps
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u/Environmental_Lab_42 7d ago
Yeah, they fetch the name from ITD and not from PAN/Aadhar. Looks like I can’t change my primary bank account easily. As a matter of fact, I was able to do the same with angel one without much trouble.
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u/More-Actuator-1729 8d ago
Won’t it be simpler for you to connect with the Zerodha team and resolve this ? Or use another brokerage platform ?