How to Change Mobile Number in Demat Account?
- 4 min read
Opening a Demat account involves a mobile number verification process, which is crucial for ensuring the security of your account details. However, if you are wondering how can I change my mobile number in Demat account, you can use the platform of your DP or online broker.
Read this blog to learn how to change mobile number in Demat account. It also provides you with the knowledge for updating an international mobile number in a Demat account.
How to update Mobile Number in Demat Account?
Understanding the process of how to change a phone number in Demat account helps receive important transaction alerts. You can also stay up to date about the performance of your holdings.
Each online broker has a different procedure for changing mobile numbers. Irrespective of brokers, here are the common steps to change your Indian mobile number:
- Log in to the application of your online broker and go to the ‘Profile’ section. You can use your mobile number or client ID and an OTP verification process to log in.
- Navigate to the ‘Account Details’ section.
- Now edit your 10-digit contact number to update it.
- Fill out the new mobile number and click on ‘Verify’.
- You will receive an OTP sent to your newly added mobile number, and proceed to ‘e-sign’.
- Redirecting to the e-signing request page, you must enter your Aadhaar details and the OTP sent to the Aadhaar-linked mobile number.
The request to update your mobile number will be processed in 3 to 5 working days.
Procedure to Update International Mobile Number in a Demat Account
The steps below will help you to know the process of how to update mobile number in Demat account for a Non-resident Indian (NRI) account:
- You need to print the account modification and Know Your Customer (KYC) forms.
- Enter the existing mobile number and the new mobile number that you want to update. The signature submitted when opening an account must correspond with the signature on the paperwork.
- Make sure you provide a masked Aadhaar card if Aadhaar information is revealed.
- Complete form scanning.
- Complete the e-signing process and create a ticket to submit it.
- You will receive an email with a link for complete In-Person Verification (IPV) after validation of the document. It involves confirming that the individual who opened the account and the person whose papers were supplied are the same.
Final Thoughts
Understanding the process how to change mobile number in Demat account will help you receive updates regarding securities you hold and ensure effective communication with your broker.
If you are new to the stock market and want to invest in securities like stocks, bonds, and mutual funds, download the application of PL Capital Group – Prabhudas Lilladher. Using the application, you can also open a Demat account for free with zero trading charges.
Frequently Asked Questions
1. Is it possible to modify the account number in a Demat account?
Yes, you can modify your bank account number in a Demat account. You have to add another bank account to your online broker app and make it primary.
2. How can I modify my CDSL account’s mobile number?
To modify your CDSL account’s mobile number, you need to log in to your Demat account through your broker. Edit your mobile number from the profile section and verify it with Aadhaar OTP. Finally, you have to complete the e-signing process.
3. Can we use the same PAN card to open two demat accounts?
Yes, you can open multiple Demat accounts in India with the same PAN card, but each account must be opened with a different broker.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
