Stocks reap the life out of a trader- so precious they are! So is there protection too! A TPIN, short form of Trading Personal Identification Number is a 6 digit code used for securing, verifying and passing clearance for all stock market transactions and activities.
It strictly ensures that only the authorised user enters the market via his TPIN and carry out his own decided market tasks so as to place orders, modify them, sell them or change other facilities of this trade.
WHERE CAN I USE THE TPIN?
- Stock Market Activities: When trading stocks using stockbroker channels, the TPIN is needed. It adds an extra degree of security against unauthorised transactions by guaranteeing that the individual placing the trade is authorised.
- Account alterations: A TPIN is frequently required for verification when making any modifications to your account settings, including upgrading private data, bank account details, or linking or disconnecting bank accounts.
- Demat Account Administration: The TPIN is needed to enable certain actions relating to the dematerialized (Demat) account, such as moving investments, guaranteeing them, or carrying out other significant duties.
- First account setup: In order to activate and start trading or monitoring their stakes, customers must have their TPIN when they initially set up an account or when restoring it.
WHAT ARE THE BENEFITS?
- Increased Protection: It prevents unauthorised access, allowing only the account holder to perform vital actions.
- Fraudulent Control: Requiring a TPIN for highly confidential transactions minimises the likelihood of fraud and unauthorised trading activity.
