Managing your Mero Share and DEMAT account just got easier with MyPay- Nepal's digital wallet. Whether you're new to this process or looking for a quick guide, here’s a step-by-step walkthrough on how to renew your account using the MyPay app.
Before we dive into the renewal process, it's important to understand what Mero Share and DEMAT are:
- Mero Share: A platform provided by CDSC (Central Depository System and Clearing Ltd.) that allows you to manage your shares electronically.
- DEMAT Account: Short for Dematerialized Account, it holds your shares in an electronic form, eliminating the need for physical share certificates.
Together, Mero Share and DEMAT accounts make the process of trading and managing shares seamless and hassle-free.
Follow these simple steps to renew your Mero Share and DEMAT account using the MyPay digital wallet:
- Open the MyPay app on your smartphone.
- Make sure you have a sufficient balance in your wallet. You can see your wallet balance displayed at the top of the screen.
- On the home screen, look for the option labeled "Mero Share and DEMAT Renewal" and tap on it. This will take you to the renewal page.
- You will see a dropdown menu under "Depository Participant." Tap on it to select your depository participant from the list provided. The list includes various options like:
- Asian Capital Limited
- Blue Chip Securities Limited
- Garima Capital Limited
- And many more...
This ensures that your renewal request is directed to the correct institution.
- Next, you’ll need to enter your 8-digit BOID (Beneficiary Owner Identification) number in the "Client ID" field. This number is unique to your DEMAT account and is essential for the renewal process.
- Under "Renew Account," you’ll find three options:
- MeroShare Renew Now
- DEMAT Renew Now
- MeroShare & DEMAT
Select the option that best suits your needs. For example, if you want to renew both Mero Share and DEMAT, choose the third option.
- Once you’ve filled in all the necessary information, click on the "PROCEED" button.
- Review your details to ensure everything is correct.
- Confirm the renewal. The app will deduct the renewal fee from your MyPay wallet balance.
- After successful payment, you will receive a confirmation message indicating that your renewal was successful.
- If you encounter any issues, MyPay offers a "Help & Support" section where you can get quick assistance.
- Convenience: Renew your account from anywhere at any time without visiting a bank or broker.
- Security: MyPay ensures that your transaction is secure and your data is protected.
- Efficiency: The renewal process is quick and straightforward, saving you valuable time.
Renewing your Mero Share and DEMAT account through MyPay is a smart choice for anyone looking to streamline their financial management. With just a few taps on your smartphone, you can ensure that your accounts are up-to-date, allowing you to focus on what matters most—growing your investments.
Download the MyPay app today and experience the ease of managing your finances at your fingertips!
