How to Change Mobile Number in demat account

In today's digital age, having a demat account is essential for managing your investments efficiently. Keeping your demat account details, especially your registered mobile number up to date is essential for managing your investments. Your mobile number serves as a vital link between you and your Depository Participant (DP), enabling you to receive important notifications, alerts, and transaction confirmations. You must learn how to change the mobile number in a demat account, ensuring your investment journey remains smooth and secure.

Understanding the importance of updating your mobile number in your demat account

• Communication: Your registered mobile number in your demat account is an important way of communication between you and your Depository Participant.
• Security measure: The mobile number allows you to stay informed about your account activities and preventing unauthorised transactions. You can enhance the security of your account by enabling two-factor authentication
• Timely updates: By keeping your mobile number updated, you can receive timely alerts for all debit and credit transactions in your demat account. You get promptly notified about corporate actions, such as dividends, bonus issues, and rights issues.
• Account recovery: You will need your mobile number registered with your DP to retrieve your account details and reset your password if required.

Because of these benefits, you should change registered mobile number in demat account if your number changes.

How can I change my mobile number in demat account?

You can update the mobile number linked to your demat account through your Depository Participant. The process of how to change mobile no in demat account is as follows -

Initiating the mobile number update request

• Visit your nearest bank branch or office of your Depository Participant with the following documents:
• For NSDL demat account: SMS alert form
• For CDSL demat account: Account details modification request form.
• Fill out the relevant form to modify mobile number in demat account, providing your new mobile number and other required details.
• If you're updating the same mobile number across multiple demat accounts, submit a declaration along with your request.

Alternatively, you can also initiate the mobile number update request online by following this demat account contact details change process:

• Log in to your Axis Direct account at https://www.axis.bank.in/investment/demat-account
• Navigate to the "Edit Profile" section and click on the "Edit" icon next to your mobile number.
• Enter your new mobile number with the country code and save the changes for changing contact number in demat account.

Verifying your identity and authorising the change

To ensure the security of your account, your DP will verify your identity before processing the mobile number update request. This may involve:

• Submitting a copy of your PAN card and a recent photograph
• Providing a cancelled cheque or bank statement to verify your bank account details
• Authenticating the request through an OTP sent to your registered email address or mobile number

Once your identity is verified, and the request is authorised, your new mobile number will be updated in your demat account within one working day.

Conclusion

Understand the steps to change mobile number in demat account. Keeping your mobile number updated in your demat account is a simple yet crucial aspect of managing your investments effectively. By following the steps outlined here of how to change phone number in demat account, you can ensure that you stay connected with your DP and receive timely updates about your account activities. Remember, a proactive approach to managing your demat account details can go a long way in safeguarding your investments and making informed decisions.
Open an Axis Direct demat and Trading Account to manage your investment portfolio conveniently electronically. This 3-in-1 account is your Savings, demat, and Trading Account, saving your a lot of time. You can invest in a wide range of securities and also get investment tips for managing your portfolio.

Frequently Asked Questions

Can I change my mobile number online in all demat accounts?

Most Depository Participants offer online facilities to update your mobile number. However, the process of how to update mobile number in demat account may vary slightly depending on your DP. It's always a good idea to check with your DP for specific instructions.

What documents are needed for updating my mobile number?

To know how to update phone number for demat account, some documents are needed. Generally, you will need to submit a copy of your PAN card, a recent photograph, and a cancelled cheque or bank statement. Your DP may also require you to fill out a specific form for mobile number update procedure for demat account.

Can I use one mobile number for multiple demat accounts?

Yes, you can use the same mobile number for multiple demat accounts. However, you will need to submit a declaration stating that you wish to update the same mobile number across all your demat accounts.

Disclaimer: This article is intended solely for informational purposes. The views expressed in this article are personal. Axis Bank and/or the author shall not be liable for any direct or indirect loss or liability incurred by the reader arising from reliance on the content herein. Readers are advised to consult a qualified financial advisor before making any financial decisions. Axis Bank does not endorse or guarantee the accuracy of any third-party content or links included in this article.