How can I recover my Demat account number?

 

Whether you are already indulged in stock trading or planning to get in the same, you might be aware of Demat account that is largely a prerequisite for stock trading. No matter who you are and how much amount you wish to invest, having a demat account is mandatory for every investor today. The account is used to hold securities in electronic form. But what if you forgot the demat account number. There is no need to worry as you can easily recover your demat account number. So, let’s start with some basics first.

What is a Demat Account? Are Demat Account number and DP ID (Depository Participant Identification) same?

Your Demat Account number and DP ID (Depository Participant Identification) are not the same and also it is nowhere related to the Demat Account holder. DP ID is basically a number allotted to the Depository Participant such as a broking firm, bank or financial institutions by the CDSL and NSDL.

There is no such thing like best demat account in India as all top brokers in India provide demat account services through CDSL and NSDL.

Each depository appoints agents who work on their behalf straight with you. These agents are called depository participants. A depository participant is termed as an intermediary between the investor and the depository.

All depository participants in India are registered under the Securities and Exchange Board of India (SEBI). Unless an agent has a valid certification from SEBI, they cannot work as your depository participant.

On the other end, a Demat Account number is a blend of the DP ID and the customer ID of the Demat Account holder. Typically, the first 8-digits of your Demat Account number is your DP ID where the last 8-digits of your Demat Account number is the customer ID of the Demat account holder. Even if you associated with top 10 stock brokers in India, the structure remains the same.

How to recover your Demat account number?

There are primarily 3 ways to recover your Demat account number.

1.    1.   You can speak to the customer care guys and quote your PAN card number and the representative will instantly your demat account details.

2.    2.   Refer to the welcome kit, which contains the details mentioning the same.

3.    3.   If you want to recover your demat account number, you could refer to the CAS report that comes to you every month in your email. You will be asked to enter your PAN number and D.O.B in DDMMYYYY format without any space to retrieve the same and you can easily recover your demat account number.

At a time when most of the stock trading services have turned online, it is not that difficult to retrieve the Demat account number for an investor. All you need is the right channel for the same.

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