1.Can I open more than one account with the same DP?

Ans. Yes. You can open more than one account with the same DP. There is no restriction on the number of accounts you can open with a DP.

2. Am I restricted to having account with only one DP?

Ans. No. There are no restrictions on the number of DPs you can open accounts with. Just as you can have savings or current accounts with more than one bank, you can open accounts with more than one DP.

3. Do I have to keep any minimum balance of securities in my account with my DP?

Ans. No. The depository has not prescribed any minimum balance. You can have zero balance in your account.

4. Can I open a single account for securities owned in different ownership patterns such as securities owned individually and securities owned along-with my wife ?
 
Ans. No. The demat account must be opened in the same ownership pattern in which the securities are held in the physical form. e. g. if one share certificate is in your individual name and another certificate is jointly held in your and your wife’s name , two different accounts would have to be opened.

5. What do I do if I have physical certificates with the same combination of names, but the sequence of names is different. i.e. some certificates with husband as first holder and wife as second holder and other set of certificates with wife as first holder and husband as the second holder?

Ans. In this case you may open only one account with husband and wife as the account holders and lodge the security certificates with different order of names for dematerialisation in the same account. You will fill-up an additional form called ” Transposition cum Demat” form. This would help you to effect change in the order of names as well as dematerialise the securities.

6. Can someone else operate my account on my behalf on the basis of a power of attorney ?

Ans. Yes. If you authorise any person to operate your account by executing a power of attorney and submit it to your DP, that person can operate the account on your behalf.

7. Why should I give my bank account details at the time of account opening?

Ans. It is for protection of your interest. Your bank account number will be mentioned on the interest or dividend warrant, you are entitled to, so that such warrant cannot be encashed by any one else. Further, a DP cannot open the account if bank account number is not given.

8. Can I change details of my bank account?

Ans. Yes. Since in the depository system monetary benefits on your security balances are paid as per the bank account details provided by you at the time of account opening , you must ensure that any subsequent change in bank account details is informed to your depository participant.

9. Can I operate a joint account on “either or survivor” basis just like a bank account?

Ans. No. The demat account cannot be operated on “either or survivor” basis like the bank account.

10. Can I add or delete names of accountholders (second or third accountholder) after opening the account ?

Ans. No. Names of the accountholders for a depository account cannot be changed. If you want to change name or add / delete an accountholder, you need to open a new account in the desired holding pattern (names) and transfer the securities to the newly opened account. The old account may be closed.