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Why did Zerodha send an email stating multiple accounts have been created using the same mobile number or email ID?

As per the SEBI circular (WEB), stock brokers need to upload unique mobile numbers and email addresses for each client. Clients can only update unique mobile numbers and email IDs to their Zerodha account.

If an existing client used the same contact details for a family member's account, they must submit a declaration and ID proof either online or offline. Family members include spouses, dependent children, and dependent parents. The ID proof can be any of the following: birth certificate, marriage certificate, passport, masked Aadhaar or PAN.

If an existing client uses the same contact details for a non-individual account (HUF, corporate, partnership, etc.), they need to submit a declaration offline.

Example scenario

Mr X, his wife, and his parents have an account with Zerodha. The mobile number and email ID linked to the wife's and parents' accounts belong to Mr X. The wife and parents are required to submit the declaration.

Online

  1. Print the family account declaration form (PDF).
  2. Fill in the details. Sample copy (PDF).
  3. The signature on the forms must match the signature provided while opening an account. To learn how to view the documents submitted while opening an account, see How can the provided documents be checked after the account is opened?
  4. Scan the forms.
  5. eSign and submit the form and ID proof by creating a ticket. To learn how to eSign, see How to eSign documents?

Offline

  1. Print the family account declaration declaration form (PDF) or the non-individual account declaration form (PDF).
  2. Fill in the details. Sample family account declaration copy (PDF). Sample non-individual account declaration copy (PDF).
  3. Courier it along with the ID proof for family accounts to:

    Zerodha Customer Support Centre,
    680, Fortuna 1, 15th Cross Road,
    8th Main Road, 2nd Phase, J. P. Nagar,
    Bengaluru, Karnataka, 560078

Did you know? Zerodha’s internal policies do not allow a new client to open multiple accounts using the same contact details.