A
3 in 1 trading account also called a 3 in 1 Demat account. It is an account
where you can buy and sell shares, you can hold shares and you can allocate and
receive money. Normally, a bank account allocates and receives money while a
Demat account holds shares, and a trading account is responsible for buying and
selling shares. There are several reasons why you should opt for a 3 in 1 trading
account as opposed to the normal 3 separate accounts.
- Less paperwork
Opening
3 separate accounts will have significantly more paperwork and therefore,
significantly more hassles as compared to the 3 in 1 trading account or the 3
in 1 Demat account. This is a great advantage and should not be overlooked
because it can be overemphasized that a significant amount of paperwork has to
be done with 3 separate accounts.
- Quicker transfer of funds
This
is because sometimes you will have to log into two different accounts on two different
bank websites to complete the transaction. This is not the case with a 3 in 1 trading
account. Therefore, please use a 3 in 1 trading account
if you need to transfer funds quickly.
- Safer transfer of funds
Using
one account for the transfer of funds not only saves your time but improves
your security as now there are fewer accounts to take care of and to make sure
they are not hacked.
- Lesser chances of the bank making a mistake
Even
though you may say this is the banks problem, it is your loss if the funds are
not transferred accurately. Therefore, you must make sure that you do make use
of the 3 in 1 trading account. It is easier for the bank because your 3 in 1 trading
account can be linked to your savings account.
- Banks give advantages
Banks
give several advantages to consumers who use 3 in 1 trading accounts including
the fact that a diversified range of assets is available to invest in including
stocks, mutual funds, bonds, debentures, and company fixed deposits. Another
advantage banks give to consumers who use 3 in 1 trading accounts are that
global research tools like stock comparisons are used.
These
are just some of many advantages of a 3 in 1 trading account. It is crucial
that you realize that you can do a lot with a 3 in 1 trading account which
cannot be done with 3 separate accounts including advantages not listed in this
article. Therefore, it is highly recommended to get a 3 in 1 trading account.
