How to know your demat account number & check dp id
Any Demat Account has a specific 16-digit account number allocated to the Demat Account holder by the Depository Participant, or DP. The Demat Account Number is what it's called. When you open a Demat Account online, the depository (CDSL or NSDL) will send you a welcome letter with all of your account details, including your Demat Account number. In the case of the CDSL, the Demat Account number also known as the Beneficiary Owner ID or BO ID.
The Demat Account format varies depending on whether the CDSL or the NSDL is using. In the case of CDSL, the Demat Account number begins with "IN" and is followed by a 14-digit numeric code, while in the case of NSDL, the Demat Account number begins with "IN" and followed by a 14-digit numeric code. CDSL is an example of a Demat Account number, 01234567890987654, while NSDL is an example of a Demat Account number IN01234567890987
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What is a Depository Participant?
Agents of the Depository may refer to as Depository Participants (DP). Brokerage companies, financial companies, and banks are the most common Depository Participants, serving as links between customers and stock exchanges. The Depositories Act of 1996 governs the relationship between the depository and the Depository Participant.
What is the difference between a DP ID and a Demat Account Number?
The DP ID (Depository Participant Identification) and the Demat Account number are not the same and have little to do with the Demat Account holder. The CDSL and NSDL assign a number to the Depository Participant, such as a broking company, bank, or financial institution.
The DP ID and the customer ID of the Demat Account holder are combined to form a Demat Account number. The first eight digits of your Demat Account number are typically your DP ID, while the last eight digits are the account holder's customer ID.
If a Demat Account holder, for example, is unsure how to locate my Demat Account number, they may do an essential exercise. If the CDSL Demat Account number is 0101010102020202, the DP ID is 01010101, and the Demat Account holder's customer ID is 0202020202. In NSDL, if a Demat Account number is IN12345698765432, the DP ID is IN123456, and the customer ID of the Demat Account holder is 98765432.