What is DMAT account?

DMAT account is a short name of dematerialized account in which all shares which were earlier in paper or physical form are now electronically converted and kept in this account. 

 Today all the stocks are bought and sold in electronic format and is transferred to new buyer DMAT account within the system. When a buyer buy any stock then the seller transfer the stock electronically in buyer's account. 

 This dmat system makes the transfer much easier and faster then physical transfer. It also reduces the risk of damage and theft which was more in physical format system. 

 It is mandatory to provide PAN number and bank account number for opening a DMAT account. It simply works as a Bank account where for payment you issue cheque, here also when you have to give shares, stocks etc you give a transaction slip and the stocks are transferred to beneficiary account.

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