Yes, you can create an account for a Minor with Glide Invest. However, the setup needs to be done manually through our customer support team. Once the account is setup, all transactions can be done through the app just like a normal user.
For a Minor, create an account on Glide Invest App using a valid email and mobile number. Make sure you verify the email once sign-up is complete. All official communication, including transaction emails and SMS from the AMCs as well as Glide Invest, will be sent to the registered email and mobile respectively. We suggest you use a suitable email and mobile number which you can monitor for the minor. The same email or mobile number cannot be used to register yourself or another user at Glide Invest.
Step-2: Get Investment Ready
This needs to be done offline through our customer support. Please collect the following in electronic format for your Minor account and mail them to firstname.lastname@example.org
If you are a Parent Guardian registering for the minor, please submit the following:
Guardian’s PAN card (Guardian must be KYC verified)
Minor’s Birth Certificate
Joint account cancelled cheque which mentions name on the cheque
Guardian’s signature (image of signature signed on blank white paper)
Are you a tax resident of any other country? (yes/no)
Are you Politically Exposed Person? (yes/no)
Are you related to any Politically Exposed Person? (yes/no)
However, if you are a Non-Parent Guardian registering for the minor, please submit the following in addition to the documents above:
Court order / proof of the appointed guardian
On successful submission of the above document, our support team will examine them from our end and revert back to you if we find any discrepancies. Next, we will create the account opening form and upload it to BSE Star for their approval.
Step-3: Await Final Approval
We will onboard your minor account from the backend and notify you once the account is successfully created. It typically takes 3 working days to get approved by the BSE Star team.
Assigning a Nominee is not permitted for minors
Upon the minor attaining the status of major, the minor in whose name the investment was made, shall be required to provide all the KYC details, updated bank account details including cancelled original cheque leaf of the new account. No further transactions shall be allowed till the status of the minor is changed to major.