Can I close my Demat account with one DP and transfer all securities to my account with another DP?

Yes. You can submit account closure request to your DP in prescribed form. Your DP will transfer all your securities, as per your instruction, and close your Demat account.

Learn More What should I do if my address is changed? Do I need to write to each company separately?

In case your address is changed, you only need to inform the new address to your DP(s). When DP enters the new address in the depository computer system, it will be automatically conveyed to all companies in which you hold shares.

Learn More Can I add or delete names of account holders (second or third account holder) after opening the account?

No. Names of the account holders for a depository account cannot be changed. If you want to change name or add / delete an account holder, you need to open a new account in the desired holding pattern (names) and transfer the securities to the newly opened account. The old account may be closed.

Learn More Can I operate a joint account on “either or survivor” basis just like a bank account?

No. The Demat account cannot be operated on “either or survivor” basis like the bank account.

Learn More What is ‘Standing Instruction’ given in the account opening form?

In a bank account, credit to the account is given only when a ‘paying in’ slip is submitted together with cash/cheque. Similarly, in a depository account ‘Receipt in’ form has to be submitted to receive securities in the account. However, for the convenience of investors, facility of ‘standing instruction’ is given. If you say ‘Yes’ …

Learn More Can I change details of my bank account?

Yes. Since in the depository system monetary benefits on your security balances are paid as per the bank account details provided by you at the time of account opening , you must ensure that any subsequent change in bank account details is informed to your depository participant.

Learn More Why should I give my bank account details at the time of account opening?

It is for protection of your interest. Your bank account number will be mentioned on the interest or dividend warrant, you are entitled to, so that such warrant cannot be encased by any one else. Further, a DP cannot open the account if bank account number is not given.

Learn More Can someone else operate my account on my behalf on the basis of a power of attorney?

Yes. If you authorize any person to operate your account by executing a power of attorney and submit it to your DP, that person can operate the account on your behalf.

Learn More What do I do if I have physical certificates with the same combination of names, but the sequence of names is different? I.e. some certificates with husband as first holder and wife as second holder and other set of certificates with wife as first holder and husband as the second holder?

In this case you may open only one account with husband and wife as the account holders and lodge the security certificates with different order of names for dematerialization in the same account. You will fill-up an additional form called “transposition cum Demat” form. This would help you to effect change in the order of …

Learn More Can I open a single account for securities owned in different ownership patterns such as securities owned individually and securities owned along-with my wife ?

No. The Demat account must be opened in the same ownership pattern in which the securities are held in the physical form. e. g. if one share certificate is in your individual name and another certificate is jointly held in your and your wife’s name, two different accounts would have to be opened.

Learn More Do I have to keep any minimum balance of securities in my account with my DP?

No. The depository has not prescribed any minimum balance. You can have zero balance in your account.

Learn More Am I restricted to having account with only one DP?

No. There are no restrictions on the number of DPs you can open accounts with. Just as you can have savings or current accounts with more than one bank, you can open accounts with more than one DP.

Learn More Can I open more than one account with the same DP?

Yes. You can open more than one account with the same DP. There is no restriction on the number of accounts you can open with a DP.

Learn More What should I do when I want to open an account with a DP?

You can approach any DP of your choice and fill up an account opening form. At the time of opening an account, you have to sign an agreement with the DP in a NSDL prescribed standard agreement, which details you r and your DP ’s rights and duti e s. You have to submit the …

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