Do you want to Renew your Demat and Meroshare Account Renew? All investors trading on the Nepal stock exchange must renew their Demat account every fiscal year to continue buying and selling shares seamlessly. In this comprehensive guide, we will walk you through everything you need to know about renewing your Demat account and MeroShare using the various digital payment platforms available.
What is a Demat Account and MeroShare?
A demat (dematerialized) account is an account that holds your shares and securities in electronic format rather than physical certificates. MeroShare is an online trading platform provided by the Nepal Stock Exchange (NEPSE) to buy and sell shares electronically. You need an active Demat account linked to your MeroShare account in order to trade shares online in Nepal.
– Demat account: Holds your shares in electronic form
– MeroShare: Account to buy/sell shares online on Nepal Stock Exchange
Why Is It Important to Renew Your Accounts?
If you fail to renew your Demat account and MeroShare before the renewal deadline, your shares will be frozen by NEPSE and CDSC. This means you cannot sell or buy any more shares until you renew the account. Moreover, if you sell your frozen shares somehow, you will not be allowed to transfer them out of your trading account. This inability to transfer shares makes you liable for a hefty penalty of 20% of the transaction amount. Therefore, to avoid share freezes, penalties, and unnecessary hassles, make sure to renew your account on time every year.
- If not renewed, shares will freeze.
- Can not sell or transfer frozen shares.
- will have to pay a 20% fine on the share sale amount.
Renewal Fees:
Demat account renewal requires a fee of Rs. 100 and MeroShare renewal costs Rs. 50 annually. You can choose to renew them together or separately, depending on your preference.
- Rs. 100 to renew Demat.
- Rs. 50 for MeroShare renewal.
- You can pay both fees together or separately.
Available Payment Methods
Some of the most popular digital payment methods accepted for renewals include eSewa, Khalti, IME Pay, ConnectIPS, Prabhu Money Transfer, etc. Many brokers also facilitate renewals through their platforms. Choose a payment method that is most convenient for you.
- Pay with Sewa, Khalti, IME Pay, ConnectIPS
- Some brokers also allow you to renew
When should I complete the renewal?
To prevent your shares from getting frozen, avoid transaction penalties, and seamlessly continue trading, make sure to complete the renewal process before the deadline. The renewal notice period starts in mid-January every year..
I hope this simple explanation helps you renew your account easily. Here, we are going to talk about different methods to renew your Demat and Mero Share accounts.
How to renew a Demat account from eSewa
To renew your Demat account on eSewa, follow the following steps:
- Login to your Mero Share account.
- Now click on your profile icon, and then click on Mero Share Profile.
- Now click on Renew Account.
- Choose eSewa as a payment partner.
- Choose Mereshare and Demat. If you only want to renew Demat then click on Demat. If you want to renew Meroshare only, then click on Meroshare.
- Now click on Proceed.
- Now put your eSewa ID(Phone Number) and Password and Pay.
Renew Demat account from eSewa mobile Application
If you are unable to log in to your Meroshare account follow the following steps:
- Log into your eSewa account first.
- Now find the Financial Services account in the eSewa account.
- Now click on Financial Services.
- Now you will see Finance, Credit card, EMI, microfinance, and broker options listed below.
- Now click on the finance option.
- Click on Meroshare and Demat Renewal Option.
- Now put your Meroshare account username and password with your depositary participants like this and click on login.
- Now pay charge amount.
How to renew the Demat account from Khalti
To renew Demat account from Khalti, you can simply log in to your Meroshare account. Then choose Khalti as the payment partner.
If you want to renew Demat account from Khalti Application then follow the following steps:
- Login to your Khalti wallet.
- Click on View More and find Demat and MeroShare Section.
- Now click on Demat and MeroShare.
- Now choose your Depositary Participant (Where you had opened Demat account).
- For exapmple I had opened my demat account on Prabhu Capital. So, I am going to click on Prabhu Capital Icon as Depositary Participant.
- Then it will redirect to the Meroshare Website. Now Login your Meroshare and pay charge amount.
There is not any difference renew Demat with Meroshare. If you want to renew your demat with Wallet, then you can renew your demat account with your Wallet application.
If you want to renew Demat and Meroshare with Meroshare, then you can choose any wallet as a payment partner. You can renew your Demat account with Meroshare Website or Application. You can download Meroshare application from Pastore and Appstore.
If you want to renew your Demat account from Meroshare, then follow the following steps:
- Login to your Meroshare account first.
- Then click on your profile icon.
- Now click on Mero Share Profile.
- Then click on Renew Account and choose any payment partner as your wish or availability.
How to renew a Demat account from Connect IPS
To renew the Demat account with a connected IPS, you can choose ConnectIPS as a payment partner when paying the renewal amount through Meroshare.
- Login to your Meroshare account.
- Follow the steps mentioned above until you select the payment partner.
- Now choose ConnectIPS (NCHL) as the payment partner.
- Select the option you want to renew: Demat and Meroshare, Demat only, or Meroshare only, then click on Proceed.
- Now log in to your ConnectIPS account with your username and password and pay the charged amount.”
How to renew Demat account from Prabhu Pay and IME Pay
To renew the Demat account using Prabhu Pay and IME Pay, follow the above-mentioned steps.
Choose Prabhu Pay as the payment partner, and enter your Prabhu Pay ID and password to pay the charged amount.
If you prefer to pay with the IME Pay wallet, follow the same steps:
Choose IME Pay as the payment partner, log in to your IME Pay account, and pay the required charge amount. Then your Demat and Mero share accounts will be renewed.”
FAQs
Q: How to check my Demat account is Freeze or not?
Answer: Simply log in to your Meroshare Account. Go to the ‘MY Shares’ section. If your shares are shown on the Freeze balance, then your Demat account is frozen. If all your shares are shown in the Free Balance, then your Demat account is not frozen.
See the picture of my Freeze Demat account:
Do we need to renew Demat account every year?
Answer: Yes, your Demat account will expire every year, and you should renew it annually. However, if you prefer not to renew your Demat and Meroshare accounts every year, you can pay charges for multiple years at once. You can renew your Meroshare for up to 5 years at a time, but you can renew your Demat account for more than 5 years as well.
How to check the Demat and Meroshare expiry Date?
Answer: Log in to your MeroShare account, then click on the profile tab. You can now view the expiry date of your Demat and MeroShare accounts.
Why should I renew my Demat account?
Ans: If you have not renewed your Demat account, you cannot transfer shares after the sale. So, you have to pay a penalty fee of 20% of your transaction amount.
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