Demat Account Transfer: If you also have more than one demat account, then you can share your shares or holdings from one account to another. For this, you can follow the manual or online method.
To invest money in the stock market, it is very important to have a demat account. You cannot buy or trade any shares without Demat. The most important thing with Demat is that you can open more than one demat account and keep your shares or holdings in different demats. But if you want to transfer all your shares in one account, then you have that option too.
According to Kotak Securities, the method of transferring shares from one demat account to another is easy, although there can be many reasons behind this. Many times there is a problem in their maintenance when running multiple demat accounts at the same time. Many people also transfer shares to save the brokerage amount.
How to share from one Demat account to another
There are two ways you can follow to transfer your shares or holdings from one demat account to another. For this, you can follow the manual or online method.
Transfer manually
For this, you will have to get a Delivery Instruction Slip (DIS) from your broker. In this DIS, necessary information related to transfer of shares will be given, which you will have to fill and only after that the shares will be transferred.
- Beneficiary Broker ID- This will be the 16 digit ID of the broker. In this slip you will have to provide the ID of both the existing and the new broker
- International Securities Identification Number- This is created to identify the individual shares and is to be entered carefully in the slip as the same will be transferred to the ID you have entered
- Mode of Transfer- If you want to do intra-depository transfer then you have to choose off market. If not, then another inter-depository option has to be selected.
After giving all these details in the slip, you have to put your signature in the last. After this it has to be submitted to the existing broker. The broker will charge you for this transfer. However, the charges for different brokers may be different.
Transfer online
Central Depository Securities Limited (CDSL) provides you an EASIEST feature through which you can transfer shares from one demat account to another in an online manner. First of all you have to login to CDSL website. For this you have to follow the tips given below.
- Click on Register Online Link
- Select the EASIEST option
- Fill the details, take a print out and send to your Depository Participant (DP)
- DP will send it to the Central Depository, who will verify your details
- After 1-2 days you will get the login credentials on your mail
- You can now see the list of brokers by logging in
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