ICICI Direct DP ID

Undoubtedly, CDSL and NSDL are the major depositories in India that have been registered with the SEBI. Every broker has a DP ID, that helps clients to access their demat account. If you are having an ICICI Direct account, then here is all the information about ICICI Direct DP ID. 

These depository participants can be either a brokerage company, a financial institution or a bank. In this article, we will be talking about the concept of DP ID and specifically ICICI Direct DP ID and how to find it.

Before answering that what is ICICI direct dp id, it is important to be familiarized with DP also known as Depository Participant.

A depository participant acts as a bridge between an investor and stock exchanges in India.

NSDL and CDSL assign a DP ID to every depository participant and every depository participant assigns a unique demat account number to each and every client of theirs. 

When CDSL is concerned, we can also call it a Beneficiary Owner ID (also known as BOID).

As soon as a new account is opened with ICICI Direct, a demat account number is assigned to the new client and a welcome kit is sent to him/her which contains all the account-related information. 

 Let us see how we can get ICICI Direct DP ID.

DP ID of ICICI Direct

Now, let us see what is the DP ID of account holders with ICICI Direct brokerage firm?

Actually, the DP ID of ICICI Direct assigned to the clients is a combination of two things which are as below:

The first thing is the DP ID and the other thing is the customer ID of the client. The DP ID  of ICICI Direct is a code assigned to the account holders and consists of 8 digits that are different for everyone.

Since there are two different depositories, they provide you with different DP ID. Depending upon the depository it is good to learn about the ID.

Once you open a Demat account with CDSL or NSDL, you will be issued with a Demat account number which is usually a 16 digit number. 

The first eight-digit of this number is the DP ID of that particular trader or investor and the rest of the 8 digit number is the Client ID or the user ID of the account holder. 

Let us understand the relationship between ICICI direct dp id and client id as below:

For instance, an investor opens a Demat account with CDSL and receives a Demat Account Number: 8472030235203679

Hence, the DP ID of the account holder will be  84720302 and the Client ID will be 35203679.

By the way, on a side note, remember that each broker charges depository charges as well, so does ICICI. Here is a detailed review of DP Charges in ICICI.

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ICICI Direct DP ID CDSL 

ICICI Direct has its tie ups with both the depositories of India – CDSL and NSDL to keep the stocks, shares, bonds, debentures, etc. of the demat account holders in a dematerialized form. 

Tracking a customer by their names is quite difficult since a huge number of people are registered with these depositories. Hence, they offer a unique 8 digit code to each of their clients to keep the process smooth and hassle-free.

The ICICI Direct DP ID for CDSL or NSDL are highly different from one another and one must note them somewhere safe. 

ICICI Direct DP ID CDSL: If you open a demat account with CDSL, then you will be receiving an eight digit number. What makes this number different from NSDL is that it is a numeric code without any alphabet.

Let us see an example of a CDSL ID. It can be anything like 20987890.

ICICI Direct DP ID NSDL: On the other hand, if you have opened a Demat account with NSDL,  then the DP ID will consist of 2 parts – Alphabets and Numeric. The first two letters are IN and the rest is a 6 digit numeric code.

For example: The NSDL ID will be something like this – IN321450.

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How to Find ICICI Direct DP ID

If you want to know your ICICI Direct DP ID, the first thing you need to do is to log in to your ICICI Direct account using the unique user id and password that has been sent to you in the welcome kit at the time of the account opening. 

Once you have access to your account, go to the section of “ICICI Direct Customer Service“.

This will show you some options out of which you would be required to go to the section of “My Account”. 

Here, you could see your demat account number that has been assigned to you by ICICI Direct and the first 8 digits of this account number is your ICICI Direct DP ID and the rest of the eight digits is your client ID.

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Conclusion 

CDSL and NSDL assign a DP ID to all the depository participants in India which could be brokerage firms or financial institutions including banks. The brokerage firms assign an account number to all the clients that open accounts with them. 

This account number consists of two parts. The first part is an 8 digit DP ID and the last 8 digits are the customer id of a client. 

To know your ICICI Direct DP ID, you need to log in to your account and check your account number mentioned in the “My Account” section of the “Customer Service” section. The first 8 digits is your ICICI Direct DP ID.

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Willing to Open a Demat Account, please refer to the below form-

 

 

 

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