How to Change Bank Account in Zerodha

Introduction

Zerodha is one of the leading stockbrokers in India and provides a seamless trading experience to traders and investors. One of the most important thing to do in your Zerodha trading account is to keep your bank account details updated. If you have changed your bank or want to update your primary linked bank account, you need to follow a structured process to ensure smooth fund transfers and compliance with regulatory requirements.

Changing your bank account in Zerodha is not as simple as updating a few details; it requires proper documentation and verification. But with the right guidance, you can do it hassle-free. In this detailed guide, we will walk you through the step-by-step procedure, the documents required ,and what to do to change Bank account in Zerodha

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How to Change Bank Account in Zerodha

Step-1: Log in to Zerodha Console

1. Open your web browser and visit Zerodha Console.
2. Log in with your User ID and Password.
3. Complete the Two-Factor Authentication (2FA) process.

Step-2: Go to the ‘Bank Account’ Section

1. After logging in, click on your profile name on the top right corner.
2. Select ‘Bank & Demat’ from the dropdown.
3. Here you will see the list of your linked bank accounts.

Step-3: Add a New Bank Account

1. Click on the ‘Add Bank Account’ button.
2. Enter your new bank account details:
   • Account Holder Name (Must be same as your Zerodha account name)
   • Bank Account Number
   • IFSC Code
3. Upload a canceled cheque or bank statement for verification.
4. Click ‘Proceed’ to submit your request.

Step-4: Verify and Approve the Change

1. Zerodha will send you a confirmation email regarding your bank change request.
2. If required, complete the Aadhaar based eSign process.
3. Your request will be reviewed and the update will be done within 24-48 hours.

Step-5: Set the New Bank Account as Primary

If you want to make your new bank account as the primary, you need to upload a signed account modification form along with the new bank account proof. You can download the Bank Account Modification Form from Zerodha Support Portal.

What to Do After Changing Your Bank

Once you Change Bank Account in Zerodha, do the following:

1. Update Fund Withdrawal Details

• Your withdrawals will be processed to the newly added primary bank account. Make sure the details are correct.

2. Update UPI ID (If Applicable)

• If you use UPI for fund transfers, update the UPI ID linked to your new bank account.

3. Verify Small Deposits

• Zerodha may test deposit a small amount (e.g., ₹1) to verify the bank account update. Check your bank statement for this.

4. Re-enable Auto-Debit Mandates (If Any)

• If you had enabled auto-debit for SIPs or mutual funds, you need to re-register the mandate for your new account.

5. Inform Your Bank About Trading Transactions

• Some banks may flag trading-related deposits and withdrawals.

• Download the Bank Account Modification Form from Zerodha Support Portal.

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Learning about Primary and Secondary Bank Accounts

Before proceeding with the steps, let us define what are primary bank accounts and secondary bank accounts in Zerodha:

Primary Bank Account: Your primary bank account that’s connected to Zerodha. It serves to deposit funds in your trading account as well as withdraw profits made in trading. You’re allowed to maintain one primary bank account only.
Secondary Bank Account: You can associate up to two secondary bank accounts with your Zerodha account. These accounts are only for depositing money into your trading account. Withdrawals are allowed only to your main bank account.

Conclusion

Changing your bank account in Zerodha is a simple yet important process for smooth fund transfers and trading. Follow the above steps carefully and you will have a peaceful transition to your new bank account without interruptions.

Keeping your bank details updated is mandatory for avoiding fund transfer failures, regulatory compliance and to secure your investments. If you face any issues during the process, reach out to Zerodha’s support team.

Stay updated, stay secure and trade worry free!