Steps to follow to change your mobile number & address in demat account

If you are a new investor, you must be thinking about a number of questions related to investments. For example, you may think, “What is a demat account?” or “What is the process of opening a new demat account?”

Well, a demat account holds all your securities in an electronic (or dematerialised) form. The process of opening a demat account is also easy. You have to contact a broker and provide your proof of identity, proof of address, bank account details, and recent passport-sized photos.

At times, investors who already have a demat account are not sure how to change their mobile number or address for that demat account. It is extremely important to provide your latest mobile number and address to your broker. Otherwise, he will not be able to send you important communications regarding your investments at the correct address.

How to update your mobile number in a demat account?

Step 1: Log into your demat account and you will be able to see a tab called “Update Contact Details.” Click on it.

Step 2: You will have to provide your registered mobile number here. This is the number that you have already provided to your broker. Once you enter it here, you will receive a one-time password (OTP). Please enter this OTP to sign in.

Step 3: After signing in, you will have to provide your date of birth.

Step 4: Now, you will be able to see your already registered mobile number with your broker. There will be an option there to edit the registered mobile number.

Step 5: At this step, you will have to provide your date of birth or bank account number for verification.

Step 6: Now, you will be required to provide your new mobile number.

Step 7: Again, an OTP will be sent to your old mobile number that is registered with your broker. You need to verify this OTP.

After your mobile number is updated, a confirmation will be sent to you to this effect on your already registered number.

But, what if you want to change your address in a demat account? Here are the steps to follow:

Step 1: Visit the website of your broker and log into your demat account.

Step 2: You will be told to provide your registered mobile number. After that, you will receive an OTP on that number. Please use it to sign in.

Step 3: At this step, you should provide your date of birth to verify your details.

Step 4: Now, you will be able to see an option called “Edit” under your “Current Address.”

Step 5: You will have to validate your details by providing your PAN number or your bank account number.

Step 6: Your broker’s website will redirect you to the DigiLocker. There, you will have to choose a KYC mode, which can be your driving licence or Aadhar card.

Step 7: Now, you will have to verify your details based on the details on your KYC document. After that, a request will be sent to change your address.

Once your address is changed, you will get a confirmation on the registered mobile number. 

Conclusion

For all those who are about to begin investing in the stock market, it is not difficult to learn “What is a demat account?” As far as the process of opening a new demat account is concerned, you will be able to understand that in a few minutes.

Learning these processes is not difficult. However, you have to adhere to them. If you do not follow them properly, you may not be able to open your demat account.

Similarly, to change your mobile number or address, you should follow the process thoroughly. If you have doubts, you can even visit the nearest branch of your broker and have a face-to-face conversation with his representatives. Meanwhile, if you are comfortable calling up the call-centre to get your doubts sorted, you can do that as well.