5 Online Methods to Renew Your DEMAT and MeroShare Account

Have your DEMAT and MeroShare accounts been renewed yet? As a capital market investor, you should renew your DEMAT account on an annual basis.

YoSin Blog - 5 Online Methods to Renew Your DEMAT and MeroShare Account 

Have your DEMAT and MeroShare accounts been renewed yet? As a capital market investor, you should renew your DEMAT account on an annual basis. Your stock and securities assets are stored in a digital format in a DEMAT account. You must renew your DEMAT account and transactions as a yearly compensation for the service provided by your depository participant (DP), which might be a broker or a merchant banker.

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5 Online Methods to Renew Your DEMAT and MeroShare Account

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Every stock market investor is required by law to renew their DEMAT account every fiscal year. As a result, DEMAT accounts must be renewed by the end of the Nepalese month of Asadh. All DEMAT accounts created from Shrawan 1, 2077 to Asadh 31, 2078, for example, must be renewed by Asadh 31, 2078. The majority of individuals forget to renew their accounts at the conclusion of the fiscal year. Even if you open your DEMAT account a day before the end of the fiscal year, you must renew it.

MeroShare is an online system that allows any investor to apply for the primary market or transfer shares. It is the CDS and Clearing Limited-supported technology that allows investors to apply online for IPOs, FPOs, and right share issues, as well as update WACC and perform EDIS after selling shares. While it is recommended that DEMAT accounts be renewed at the end of each fiscal year, it is not required for Mero Share. You may renew it on a yearly basis whenever you like. For example, if you received your Mero Share ID on Ashwin 21st, 2077, you can renew it on Ashwin 20th, 2078.

What happens if your DEMAT/ MeroShare account isn't renewed on time?

Any recipient of stocks should renew their DEMAT account yearly, according to the Securities Board of Nepal (SEBON). If this is not the case, their account will be frozen, preventing them from purchasing or selling stocks. In the dashboard, you may see your status as "ACTIVE" when you renew your DEMAT and MeroShare accounts. You'll notice "Frozen for Debit" status once the renewal payment is due.If you do not renew your account before the expiration date, it will be frozen.

Methods of DEMAT and MeroShare Account Renewal

Capital market transactions have never been easier because to improved interoperability across digital payment platforms. Users may now choose digital payment options thanks to recent advancements in payment systems such as digital wallets, mobile banking, and PSOs. Because the end of fiscal year 2077/78 is coming, this article may assist you in determining the best option for renewing your account.

We would want to urge you to use electronic or digital transactions wherever possible. However, it is possible that things will not work for all of us. If you don't have access to any of the digital payment systems, you can go to your broker or merchant banker and give them your DEMAT number and MeroShare ID. Getting ahead with the time, majority of people have adapted to online renewal process. So, here are 5 ways to renew your DEMAT and MeroShare account online.

Renew Directly Through MeroShare Portal

CDSC has been upgrading its service to the users for convenient investing journey. As a result, it has already launched the mobile version of MeroShare last year. So now, MeroShare is available in both web and mobile app version. You can directly renew your DEMAT and MeroShare account through this portal in these simple steps.

5 Online Methods to Renew Your DEMAT and MeroShare Account

In order to keep up with the times, most individuals have adopted the online renewal procedure. Here are five different methods to renew your DEMAT or MeroShare account online.

MeroShare Portal is a platform that allows people to share their ideas. CDSC has been improving its service to consumers in order to make their investment experience more convenient. As a consequence, MeroShare's mobile version was released earlier this year. MeroShare is now accessible as a web application as well as a mobile app. These easy procedures will allow you to renew your DEMAT and MeroShare account straight through this portal.

1.Go to http://meroshare.cdsc.com.np or your mobile app and log in using your MeroShare ID.

2. In the upper right corner of the Dashboard, select "MeroShare Profile."

3. Next, go to the "Renew Account" option.

4. Now choose which of the renewal options is best for you from the list below.

5. It will send you to the payment systems you choose when you select one of the available digital wallets or connectIPS.

6. Now enter the information into the designated payment systems and complete the payment process.

Use Digital Wallets to Pay

In Nepal, there are 18 digital wallets in operation. However, they may not all provide DEMAT renewal alternatives. Some wallets, such as eSewa, Khalti, and IME Pay, have integrated their renewal services directly into the MeroShare interface. They appear in MeroShare's renewal choices.

You may, however, just log in to your digital wallet and select Capital Market/Finance from the menu to complete the payment. For example, on the main screen of eSewa, there is a direct choice to renew “MeroShare and DEMAT.” These alternatives are also available through IME Pay and Khalti. You can choose your depository participant and then proceed to payment by filling in the data. It's that straightforward!

Pay using ConnectIPS 

PS ConnectIPS is a common method for stock investors and traders to pay their brokers for their purchases. Furthermore, it is gaining momentum with DEMAT renewal services as well. Because it is a payment service provider, you may link your bank account and make payments straight from it. It implies you may make a payment immediately from your bank account without first putting the funds into connectIPS.

5 Online Methods to Renew Your DEMAT and MeroShare Account

ConnectIPS has been adding more and more banks for DEMAT/ MeroShare renewals as well. However, not all banks and brokerage firms have gone operational yet. To begin, check to see if your bank account is linked to connectIPS. If it's online, you can take the following steps:

1. Go to connectIPS and log in.

2. Select Financial Institutions and then “Capital Market” from the drop-down menu.

3. Then, for MeroShare renewal and DEMAT account renewal, click on MeroShare Fee and DEMAT Fee, respectively.

4. Next, fill in your account information, including account name, BOID, DP provider, and amount. The cost of renewing your DEMAT and Mero Share accounts is NRs 100 and Rs 50, respectively.

5. To finish the procedure, click transfer and then enter your OTP.

Go to your Merchant Bank's website.

As you may be aware, there are two options for obtaining a DEMAT and MeroShare account in Nepal. You can obtain it through the broker or the merchant bank (a subsidiary of the bank that holds your account). So, if you created your DEMAT account with a bank's subsidiary capital, you may renew it on the bank's website. If you have a DEMAT with Global IME Capital, for example, you may simply renew your account on their website. 

The organization or company that supplies you with a DEMAT and MeroShare account is known as a depository participant. It is a member of the central depository, which houses all of the investors' securities accounts across the country. CDS and Clearing Limited is Nepal's central depository, and depository participants are either broker houses or merchant banks. And we, the investors, are the ones who benefit. As a result, the DEMAT account number is also known as the BOID number.

Step 1: Go to your depository participant's website.

Step 2: Look for the option to "Renew DEMAT" or something similar.

Step 3: Select that choice and fill up your information. Here's an example of Global IME Capital's renewal tab.

Step 4: Once you've entered all of your information and clicked "Submit," your information will be sent to the mobile banking system of your choice.

Mobile Banking/Internet Banking

Your mobile banking/internet banking service is the fourth option for renewing your DEMAT or Mero Share account. This option may be appropriate for you if you utilize your mobile banking services.

All you have to do now is log into your mobile banking app. In terms of this renewal service, several banks offer their own options. However, the majority of them come under the “Capital” or “Financial Markets” payment option. To proceed, you can select any of these or comparable alternatives. After then, you'll see a list of depository participants. Select your broker or capital, fill in the required information, and submit your payment.

Final Thoughts

These are the five options for renewing your DEMAT or MeroShare account via online platforms. These choices are presented since some systems do not provide all of them. Personally, I like option 1 since it allows you to select your preferred payment method via your MeroShare account. As a result, everyone can do it. If you just have a DMAT account and no MeroShare ID, however, you can pay for it using other methods. As a result, I recommend that you obtain your MeroShare ID as soon since possible, as it is past time for us to become #digital. Why wait in line when you can apply for security jobs online?

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