Do you have plans to invest in the share market in the near future? If you do, then you will have to open a dmat account at one point of time or the other. But as a person who has never invested in the share market, you might be confused about the exact process which you should follow in order to open such an account. Here we will discuss in detail about the questions which are included in the questionnaire of a demat account:-
What documents are required to open a Demat account?
This is one of the first questions which you will come across in the questionnaire which will address all your queries regarding how to open a demat account. First and foremost, you will need to submit a filled up account opening form available in the website of the brokering firm or in their branch office.
With this filled form, you will have to submit your identity and address proof and passport-sized photographs of recent times. You will also need to carry your original documents for verification. As an identity proof, you will need to submit either your PAN card, residential telephone or electricity bill, passport, driver’s license, passport, driver’s license etc.
You can submit any document with your residential address as a proof of address such as passport, ration card, driving license, voter’s ID or bank passbook. Once the application gets verified, you will be provided with your login details. Thereafter, you can log within your Demat account for checking your holdings.
What should you do if you forget your passport?
In case you forget your password while opening demat account, then you won’t have to worry too much. You can recover your account by setting a new password through the brokerage firm’s site by using the Forget Password Option which is available as part of the login form.
It will enable you to enter the user code and contact number. Then, you will be able to reset your password. You can also contact your brokerage firm with your query and they will receive guidance on ways to rest the password for your demat account.
Do I need a email address for opening an account with the brokerage firm?
The availability of an email ID is an extra advantage since you will get the statements and transaction details and statements on your ID. The brokerage firm will send you the transaction alerts which will be made through your trading/Demat account.
The details will be sent by the end of the day. Therefore, you will get updates of the latest transaction details. This will ensure that no unauthorized transactions are made from your trading/demat account.