Why does the 5paisa Demat account opening process takes more time than expected 72 working hours?
A 5paisa Demat account can be opened as fast as within 72 working hours if the KYC is verified and the documents submitted are correct.
If the user chooses to update their KYC details during the account opening flow itself, then it has to be verified by the KYC Registration Agency (KRA) before the Demat account is opened as per SEBI guidelines. So, KRA may take up to 72 working hours to verify the KYC details, which could be the reason for delaying the account opening process.
Note- If the KYC information is not approved/verified by the KRA then, 5paisa send an email explaining the reason and will further mention the documents required. Also, the users can also reach out to 5paisa via email@example.com
inquiring about the delay.