POSTED BY June 21, 2011 7:14 pm COMMENTS (5)ON
How to get name changed in Mutual fund units? My wife has ICICIDirect account in her maiden name. Her demat account, trading account and savings account all were in her maiden name. Her KYC has been done on her name after marriage. So we decided to get her name changed after we heard news of KYC enforcement on on mutual funds by SEBI. As first step we got her name changed on savings account. It was done successfully. But when we visited ICICIDirect store, we came to know that they do not have any process to get name changed with Mutual funds or demat account. We were in shock. Because now direct debit of MF redemptions or dividends coming started failing and we started getting checks for all. To submit check to bank account we have to submit a written application and copy of marriage certificate every time since the name does not match with account holder.
Is there any procedure to get name changed on mutual fund holdings and demat account? We are ok to move MF holdings in offline mode since ICICIDirect is not ready to do name change.