What is a DP ID in a demat account, and how is it different from a Demat account number?

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The Custodian Participant ID is an eight-digit code assigned by the Custodian to the Custodian Participant. Once you open a demat account with a DP, this ID will be linked to your best demat account. By conducting transactions to buy or sell securities through a demat account, DP ID ensures that the transactions are routed to the appropriate DP beneficiary for proper processing.

Demat account number is a 16 digit code assigned by the DP at the time of opening a Demat account. Coupled with DP ID, this code helps to identify the investment in your demat account. For stock transactions, the demat account number allows debits or credits required for securities counting. Check more on top trading app India.

Differences between DP ID and Demat Account Number:

Grant of permission:

DP-ID: is assigned by the administrator.

The best Demat Account Number: Allocated by DP.

Realignment of operations and identification of parent companies:

DP ID: Ensures the correct routing of electronic transactions between the sender and the DP recipient. Check more on top trading app India.

The best Demat Account Number: Identifies the holdings in the demat account.

Understanding CDSL and NSDL:

The two SEBI-regulated depository institutions in India are Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL). CDSL is operated by Bombay Stock Exchange, Bank of India, Bank of Baroda, State Bank of India and HDFC Bank. On the other hand, NDSL is promoted by Unit Trust of India, IDBI and National Stock Exchange.

While you cannot trade securities directly by opening the best demat account with a registered custodian, depository participants, often banks, act as intermediaries connecting you with the custodian.After opening a Demat account, you will receive a welcome letter from NSDL or CDSL with your account details, including your 16-digit Demat account number, also known as Beneficial Owner ID (BO ID) at CDSL. Check more on top trading app India.

In CDSL, the best Demat account number is a combination of 16 digit numbers while in NSDL it starts with IN followed by 14 digits.

Demat Account Customer Number: Customer ID

This is a unique identification code assigned to the demat account by the depository participant. This is usually an alphanumeric combination whose first eight digits represent the DP ID and the remaining digits represent the investor ID number. This ID reflects the total balance in the best demat account.

For example, if dealer ABC has DP ID 12131415 and the DP assigns a unique code 67891011, the customer ID for ABC would be 12131415-67891011. Check more on top trading app India.

Customer Number Search in Demat Account: Customer ID in the best Demat account can be found in various ways:

Contact NSDL or CDSL with your PAN card details.

Call DP Helpline and provide PAN details.

Visit the official websites of CDSL EASI or IDeAS-NSDL to get the necessary information. Check more on top trading app India. So, all the best for your venture!

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