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How to Check Demat Account Status? Different Ways to Know it
A Demat account is a crucial part of stock market participation, allowing electronic holding of securities in dematerialised form. It functions like a bank account, allowing easy access to holdings and account details. Regular checking ensures accurate records, monitoring of securities, tracking of corporate actions, and seamless transaction execution. Checking can be done through online portals, mobile applications, or periodic statements from Depository Participant (DP). By doing this, you may stop worrying about the certificate getting lost or damaged.Opening a Demat account online can save you time and offer quick and easy trading in the stock market. This blog will address how to check my Demat account status, explaining where to check and what factors to consider before proceeding.
What is Demat Account Statement?
A Demat Account is required to keep and trade all shares and securities in electronic form, including bonds, ETFs,Mutual Funds, debentures, and more. This computerised technology facilitates trade without requiring any human documentation. When money is credited or debited from a bank account, it is cross-checked against the bank statement. The same is true for the trading process; once a deal has been executed, it is important to check the Demat Account Statement to determine the trade status and whether it was successful or failed.
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Table of Content
- What is Demat Account Statement?
- How to Check Demat Account Status Online
- Steps to Check the Demat Account Status
- Where to Check Demat Account Status?
- How to Check the Demat Account Balance?
- Things to Pay Attention While Examining the Demat Account Statement
- What is the Need to Check your Demat Account Status?
How to Check Demat Account Status Online
The easiest way to check your Demat account status is online. Visit the website of yourDepository Participant (DP) and log in to your account. Once you log in, you will see a dashboard that displays the status of yourDemat account. You can also see your portfolio, transactions, and other details related to your Demat account.
Call Customer Care
If you do not have access to the internet or prefer to speak to someone directly, you can call the customer care number of your DP. You can ask the representative to provide you with the status of your Demat account. They will ask for verification details like your name, PAN card number, and other relevant information before sharing your Demat account status.
Through Email
Another way to check your Demat account status is to email your DP. You can email their customer care email ID and request to share your Demat account status. The DP will verify your identity before providing you with the required information.
Steps to Check the Demat Account Status
Here is the step to check the Demat account status:
- Step 1: Log in to your depository participant (DP) website or app using your client ID and password. This could be NSDL/CDSL or your stock broker if they provide Demat services.
- Step 2:On logging in, your Demat account dashboard will open. Go to the 'Portfolio' or 'Holdings' section to view all the securities in your Demat account.
- Step 3:Check the list of securities along with their current balance. This will let you verify your existing holdings.
- Step 4:Go to the 'Transactions' or 'Account Activity' section to see the statement of transactions made in your Demat account over any selected period.
- Step 5:Review credit and debit transactions, pledges, corporate actions, blocks on securities, etc., to ensure all account activities are accurate.
- Step 6:If you find any discrepancies, raise a complaint immediately with your DP or depository. You can also view account balances, limits, holding values, account statements, etc. for a complete picture of the Demat account status.
Check periodically and take, if necessary, prints/saves to maintain updated records of your portfolio. This can help investors maintain proper portfolio health and security.
Where to Check Demat Account Status?
So how to check if my Demat account is active or not; this is a common question traders and investors may ask so simply put, you can check the status of your Demat account on the website of your DP. Every DP has a website that provides details related to their services, including account opening, trading, and account management. You can log in to your account on the DP's website and check the status of your Demat account.
If you do not have access to the internet or prefer not to use the online method, you can call the customer care number of your DP. They will provide you with the status of your Demat account over the phone.
How to Check the Demat Account Balance?
The following is the breakdown of how to check your Demat account balance:
Online Portals:
Most Depository Participants (DPs) offer online portals or mobile applications that allow you to log in and view your Demat account holdings, transaction history, and current balance conveniently.Periodic Statements:
Your DP is required to provide you with periodic statements, typically monthly or quarterly, detailing your Demat account's holdings, transactions, and balance.Consolidated Account Statement (CAS):
If you hold multiple Demat accounts with different DPs, you can access a Consolidated Account Statement (CAS) that provides a comprehensive view of your total holdings across all accounts.
Things to Pay Attention While Examining the Demat Account Statement
When reviewing your statement, it's essential to understand the various details presented to make informed decisions. Here's a beginner's guide to the key elements to look for while reading your Demat account statement:
Personal Details:
You have to verify that the account details, such as your name, address, and contact information, are accurate and up-to-date.Account Identification:
Another thing is that you should check for the account number, Demat account number, and any other unique identifiers associated with your account to confirm you're reviewing the right statement.Securities Holdings:
Furthermore, it is suggested to review the list of securities you hold, including stocks, bonds, mutual funds, or any other assets.Transaction History:
Go through the transaction details, including buy and sell orders, corporate actions (dividends, splits, etc.), and any other activities that have impacted your holdings during the statement period.Current Market Value:
Make it a habit of noting down the current market value of your holdings, which reflects the worth of your investments based on the latest market prices.Portfolio Performance:
Understand your investments' performance, including any gains or losses, to assess the overall health of your portfolio.
What is the Need to Check your Demat Account Status?
Checking your Demat account status regularly is important for two main reasons:
Track your investments:
Your Demat account statement provides a detailed overview of your holdings, including the quantity, price, and market value of each security. This information can help you track your investment performance and make informed decisions about your portfolio. By reviewing your Demat account statements regularly, you can also identify any discrepancies or unauthorised transactions. This can help you protect your investments from fraud and other risks.Stay updated with your holdings:
To stay up-to-date on your account balance and holdings and receive all the benefits and entitlements associated with your account. Your Demat account statement provides you with a real-time snapshot of your account balance and holdings. This information can be useful for planning your financial future and making informed investment decisions.
Conclusion
Checking the status of your Demat account is essential to ensuring the safety and security of your investments. It is easy to check your Demat account status online, and you can do it with the help of this article. Make sure to keep track of your Demat account status regularly to stay updated on your investments' performance and avoid any fraudulent activities. Additionally, if you are new to trading and need help understanding it, you may check out the user-friendlytrading app, which provides online support and direction.
FAQs on How to Check Demat Account Status
No, you need to log in to your Demat account to check its status. The status will not be available to non-account holders or individuals who are not authorised to access the account.
To check your Demat account status, you will need to provide some basic information such as your name, DP ID, client ID, and PAN card number. You may also need to answer some security questions to verify your identity.
Yes, you can check the status of your Demat account with multiple DPs if you have opened multiple Demat accounts with different DPs.
You should check the status of your Demat account regularly, at least once a month. This will help you to stay updated on your investments' performance and avoid any fraudulent activities.
If you find any discrepancies in your Demat account status, you should immediately contact your DP and raise the issue. They will investigate the matter and take appropriate action to rectify the problem.
Check your Demat account status regularly, especially after transactions. Frequent monitoring helps you stay updated on your investment
Securities in closed demat accounts are transferred to the suspended account. Addressing and resolving any pending issues before closing the account is crucial to ensure a smooth securities transition.
A Demat account statement provides a detailed record of your holdings and transactions. Demat account status indicates whether your account is active or inactive.
