How to Check Demat account Status? Different Ways to Know it

How to Check Demat account Status? Different Ways to Know it

For the purpose of trading on the stock market, a Demat account is an essential requirement. A Demat account, which functions like a bank account, is held with either NSDL or CDSL, and you can open and access your Demat account through a depository participant such as a stockbroker. The stocks purchased are in your Demat account as if money were held in accounts like a bank account. They're bought and sold according to the shares you buy and sell.

A Demat account also provides similar functions as those provided by a bank account, enabling its holder to view passbook details and statements of his or her accounts. You can also check the balance of your Demat account and view a Demat's holdings statement in comparison to checking bank balances. As an alternative, it is electronically saved in your Demat account. By doing this, you may stop worrying about the certificate getting lost or damaged. Opening a Demat account online can save your time and offer hassle-free trading in the stock market.

How to Check Demat account Status?

Checking your Demat account status is important to track your portfolio and ensure all holdings and transactions are accurate. There are a few simple ways to verify your Demat account status through  Depository Participant (DP), NSDL/CDSL website, SMS alerts 

Open Demat Account

Table of Content

  1. How to Check Demat account Status?
  2. How to Check Demat account Status Online
  3. Steps to Check the Demat account Status
  4. Where to Check Demat Account Status?
  5.  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 to do it online. You can visit the website of your Depository Participant (DP) and log in to your account. Once you log in, you will see a dashboard that displays the status of your Demat 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 some 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 send an email to your DP. You can send an email to their customer care email ID, requesting 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: Login 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 currently 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 required prints/saves for maintaining updated records of your portfolio. This can help investors maintain portfolio health and security properly.

Where to Check Demat Account Status?

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.

 What is the Need to Check your Demat Account Status? 

Checking your Demat account status regularly is important for two main reasons:

  1. 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.
  2. 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 the following way, which is mentioned in the above 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-friendly BlinkX trading 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.