Demat account: There is no need to panic if you forget your Demat account password. All you have to do is visit the website of your brokerage house and reset the password. This is an easy process. Know in this news how you can reset the password of demat account.
To invest money in the stock market, Demat for Share Market is as important as it is important to remember all the documents and passwords related to Demat. However, having multiple demat or other accounts makes it difficult to remember passwords. If you are also stuck in such a situation and have forgotten the password of Demat account, then there is no need to panic. Today we will tell you how to re-open your demat account if you have forgotten your demat account password. Angel Broking explains what you should do after forgetting your password.
There are many types of questions in the minds of people regarding Demat, one of which is also that if you forget the password, then how will you log in to the account again. There is no need to worry too much for this. If you have opened your demat account through Angel Broking then you will go to their site and click on forget password, after that you will be asked for user code mobile number, after which you can login again. You can do this by visiting the websites of different brokerage houses. Apart from this, you can also reset your password by calling the toll-free number of your brokerage houses or by mailing on their official e-mail id.
Purpose of opening demat account
The biggest reason for opening a demat account is to keep the securities in electronic form rather than in physical form. This reduces the chances of fraud and theft. By opening demat, you can easily buy, sell shares and you will not have to wait much for this. Demat accounts are safe.
Can I have more than one demat account?
You can have any number of demat accounts if you want. No legal action will be taken against you for holding more than one demat account. Having more than one demat account has some advantages but also some disadvantages. Having more than one demat account makes it difficult to remember their login ID.
How to Close Demat?
First of all download the account closure form online and fill it. After this, sign that form in front of the Depository Participant (DP) officer. Explain that a brokerage firm or a bank can be a DP. Although no amount is involved in closing the Demat account (Demat A/c), it is a completely free process. Before closing the Demat account (Demat A/c), you have to keep in mind that the Demat account is not closed just by mailing online or making a request. For this, you have to go to the bank branch and fill a form and submit the necessary papers.
