What is the Demat Account Number Format?

A Demat account or a Dematerialized account allows the holding and trading of various forms of Securities in an electronic format. It provides the investor with ease of access, there is no need for any paper-based records. Demat account reduces the overall transaction expenses incurred by investors, besides enabling them to work from anywhere.

Simply speaking, a Demat account is similar to your bank account. Just like we need a bank account for transactions of money, a Demat account is required to deal in equity and other market assets. You can easliy open free demat account with us.

What is a Demat account number?

A Demat account is a unique 16-digit alphanumeric number assigned on your Demat account. It serves as your identification variety for all transactions associated with your Demat account.

The format of a Demat account range generally follows the following pattern:

• First 6 digits: Represent the depository player (DP) code.
• Next 10 digits: Represent the particular account variety inside that DP.

Example:
A Demat account number look like : 1245560000001474
The first 6 digits (124556) include in the DP code.
The Next 10 digits (0000001474) represent the account number into that DP.

The point to note here is that the Demat account number and the DP ID is obviously not the same. The DP ID is allotted by either the NSDL or the CDSL to a DP. As I have mentioned, the Demat account number format varies if issued by CDSL or NSDL.

Demat account number format

Now there are 2 Demat account number format:

1. CDSL Demat account number: If the depository is CDSL, your Demat account number or (Beneficiary Owner) BO ID will be a 16-digit number.
2. NSDL Demat account number: If the depository is NSDL, your Demat account number will be a 16-digit alpha-numeric number with the beginning 2 characters being ‘IN’.

Demat number in terms of being a combination of the DP ID and your customer ID.  If you are confused about your Demat account, and wondering how to find your Demat account number, here is an easy way for you to find out.

• In the case of CDSL, let’s say your Demat account number is 0987654321234567. In this case, 09876543 is your DP ID and 21234567 is your customer ID.
• For NSDL, if your Demat account number is IN78909876543210, in that case, IN789098 is the DP ID and 76543210 is your customer ID. In case you forget your demat account number you can find demat account number from pan also.

How to Find your Demat account number?

1. Demat Account Statement: Your Demat account number is prominently displayed to your account declaration.
2. DP's Website or App: Most DPs offer an choice to view your account information on-line.
3. DP's Customer Service: You can touch your DP's customer support to inquire approximately your account quantity.

How is DP ID Different from Demat Account Number?

Your Demat account number has quite a few details embedded in it. You may be surprised to learn that the series of digits has been assigned to your name to serve specific purposes. For instance, the first eight digits of your depository participant identity (DP ID) is the identity of your Demat service provider.

The remaining eight digits are the beneficiary's identity. The combination of the two is your unique Demat ID, it is also referred to as the beneficiary ID. This is very similar to the bank codes such as IFSC and MICR which identify your bank along with you as a customer.

If your depository is CDSL, all 16 digits in your DP account are the number. This is your DP ID. On the other hand, if your depository is NSDL, the first two digits are alpha (code) while the remaining 14 digits are the DP number.

The DP ID can be summed up as:

DP ID + Beneficiary ID = Demat ID

Conclusion

So to understand the operations of a Demat account it is imperative to know the Demat account number formats and it's makeup. This will help in identifying and dealing in trades better keeping in mind the laws and rules for that particular registry.
The difference between Demat account number, DP ID, BO ID is quite evident, investors should note how each of their unique IDs is formed and should keep them confidential in all accounts. Trade responsibly and lawfully.