Switched banks recently, or want to add a second bank account for IPO applications? Mero Share actually involves two different types of bank updates — one you can do yourself in a few clicks, and one that requires visiting your Depository Participant (DP). Mixing these up is a common source of confusion, so here's exactly how each works.
Type 1: Adding or Editing a Bank for IPO Applications
If you simply want to add a new bank account to apply for IPOs (or fix a bank you entered incorrectly for this purpose), this can be done directly within Mero Share:
- Log in to meroshare.cdsc.com.np or the Mero Share app.
- Go to your profile/account settings and look for the "Bank Details" section.
- Click Add Bank to link a new account, or edit an existing entry.
- Select your bank from the dropdown list and enter your account number.
- If it's a new bank, you'll need to obtain a CRN (C-ASBA Registration Number) from that bank separately before you can use it for IPO applications.
- Save your changes.
This lets you maintain multiple linked bank accounts and choose which one to use each time you apply for an IPO or FPO.
Type 2: Changing Your Primary Demat-Linked Bank Account
If you need to change the main bank account tied to your Demat account — the one used for dividend payouts and official KYC records — this is a more formal process, since it involves updating your core Demat account information with your DP.
- Download the "Application for Amendment in Demat Account Information" form from your DP's (bank's) website.
- Fill in your Demat account holder details and the new bank account information.
- Attach a photocopy of your citizenship certificate and sign the form.
- Submit the form to your DP — either at their branch or through their designated online submission channel, if available.
- Your DP will process the update and reflect the change in CDSC's system, which then syncs to your Mero Share profile.
CDSC's own guidelines emphasize that any change of address or bank account details should be reported to your DP immediately to keep your records accurate.
Why the Two Processes Are Different
The IPO bank list in Mero Share is essentially a convenience feature — it lets you choose which account to block funds from (via C-ASBA) when applying for an IPO. Your primary Demat-linked bank account, on the other hand, is part of your official KYC record with CDSC and is used for dividend credit and other core account functions — which is why it requires a formal amendment process rather than a simple in-app edit.
Common Issues When Updating Bank Details
- Forgot your CRN: Contact the specific bank where you want to apply for IPOs — they issue CRNs directly, not CDSC or Mero Share.
- Insufficient balance error during IPO application: Double-check you've selected the correct bank account with adequate funds before submitting.
- Update not reflecting: Primary bank account changes via your DP can take a few business days to sync — check back after 2–3 working days.
Frequently Asked Questions (FAQ)
Can I have multiple bank accounts linked to Mero Share?
Yes, you can add multiple banks for IPO application purposes and choose which one to use each time you apply.
Do I need to visit my bank branch to change my primary bank account?
In most cases, yes — since this is a formal Demat account amendment, though some DPs may offer online submission options. Check with your specific DP first.
Will my dividends go to the old bank account if I forget to update it?
Yes. Dividends are credited to whichever bank account is currently on record with your DP, so it's important to complete the amendment process promptly after switching banks.
Conclusion
Updating your bank details in Mero Share isn't a single process — it depends on whether you're adding a bank for IPO applications (quick, self-service) or changing your primary Demat-linked account (formal, DP-level). Knowing the difference saves you from confusion and ensures your dividends and IPO applications always go to the right place.
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