Depository banks have called upon their customers to renew their Demat accounts by Ashadha 31. Failure to do so will result in the freeze of your Demat account. This means your account balance will be frozen, and share trading operations will not be possible but you can apply for IPO. So, to get the completed work, you should hurry up and renew your Demat account online.
For a complete stock market solution, both Demat and Mero share accounts are essential. While the Mero share account expires in twelve months counting from the day it is created, the expiry of the Demat account is different. There is a myth about Demat’s 12 monthly account validity First, let’s clear the air about this.
You can renew your Mero share and Demat account by physically depositing the amount with the bank or broker Office as well as you can renew your Mero share and Demat account online using Nepal’s digital payment system.
Learn how you can renew your Demat and Mero Share account in the step-by-step process given below.
As per the regulation of the Securities Board of Nepal (SEBON), any beneficiary of securities should renew their demat account annually. If it is not, their account will be frozen which restricts them to buy or sell securities. As soon as you renew your Demat and Meroshare account, you can see your status “Active” in the dashboard. Once the renewal amount is due, you will see the status “Frozen for Debit”.
If you are going to renew your Demat and Mero Share account, you need to know that it comes with a cost. The cost of demat renewal for one year is Rs 100 while the cost of Mero share renewal for one year is Rs 50. You can also approach the concerned bank for payment of renewal but it will be inefficient. Hence, it is preferred to renew the Demat and Mero Shares directly from the Mero Share account or through multiple digital wallets.
CDSC is upgrading its service for users for a convenient investment journey. As a result, it launched a mobile version of Mero Share last year. So now, MeroShare is available in both web and mobile app versions.
You can directly renew your Demat and Mero share account through this portal in these simple steps
- Log in to your MeroShare ID at http://meroshare.cdsc.com.np or in your mobile app.
- Click on “Meroshare Profile” on the top right corner of the dashboard.
- Then click on the “Renew Account” tab.
- Now choose which one of these renewal options is suitable for you ways to renew your Demat and Meroshare account online
- After you have selected any of the given digital wallets or ConnectIPS, it will redirect you to the payment method chosen by you.
- Now enter the details on the guided payment system and proceed with payment.
There are 18 digital wallets working in Nepal. However, not all of them may provide the DEMAT renewal option. Some wallets like eSewa, Khalti, and IME Pay have linked their renewal services directly with the Mero share portal. They appear in the upgrade options in MeroShare.
To renew your Demat and Mero Share accounts via eSewa you need to follow these steps.
Step 1: Click on “Finance/EMI”.
Step 2: Choose your desired “Finance”.
Step 3: Enter the last 8 digits of your Client ID.
Step 4: Enter your Full Name and Contact number.
Step 5: Select the type of service you want to renew (DEMAT or MeroShare account or Both).
Please note, the DEMAT renewal fee is Rs. 100, MeroShare renewal fee is Rs. 50 and if you want to renew both, then the combined fee will be Rs. 150.
Step 6: After selecting the type of service, enter Remarks and click on “Proceed”.
Step 7: Complete your transaction by clicking on “Confirm”.
In this way, your DEMAT renewal procedure has been completed Through eSewa.
To renew your Demat and Mero Share account via IME Pay you to need to follow these steps.
Step 1: Select the “Demat/Meroshare” icon on the home page.
Step 2: Find and select your Demat/Meroshare provider from the list given below.
Step 3: Fill in the required information in the text field and click on the next arrow button at the bottom of the screen.
Step 4: Enter your 4-digit IME Pay Wallet PIN number.
Step 5: Review your transaction details and tap on the “Pay” button.
Step 6: Your Demat/Meroshare has been successfully renewed. Tap the “View Receipt” or “Done” button to return to the home page.
To renew your Demat and Mero Share accounts via Khalti you need to follow these steps.
Step 1. login into your Khalti App
Step 2. Click on the Demat/Meroshare icon on the main screen.
Step 3. Find and select your Demat/Meroshare provider from the list given below.
Step 4. Enter your customer ID (16-digit demat account number), full name, mobile number, and amount (Rs 100 for Demat and Rs 50 for Meroshare); and click send.
After successful payment, Demat / Meroshare team will review your payment and you will receive a confirmation email regarding the renewal of your account.