New Delhi: Transferring shares from one Demat account to another is generally a straightforward process. However, when transferring shares, it’s crucial to ascertain whether the shares are held with CDSL or NSDL. This is because the transfer method depends on the depository associated with your broker.
If both your existing and new brokers are affiliated with the same depository, the transfer will be intra-depository (or off-market). Conversely, if they are affiliated with different depositories, an inter-depository transfer will occur.
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It’s important to note that various charges may apply for transferring shares between Demat accounts, including transaction fees and taxes. These fees can vary depending on the Depository Participant (DP) and the type of shares being transferred. Therefore, it’s advisable to verify any applicable fees with your DP before initiating the transfer. Additionally, double-checking the provided details during the transfer process is always recommended to avoid errors.
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Here Is How To Transfer Shares From One Demat Account To Another: Online
- The investor fills out and submits the Delivery Instruction Slip (DIS) to their current broker.
- The broker then forwards the DIS form or application to the depository.
- Subsequently, the depository initiates the transfer of shares to the demat account.
- Once all shares have been successfully transferred, the same is reflected in the investor’s new Demat account.
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Steps To Transfer Shares Online:
- To begin, the investor should click on the “Register Online” button available on either CDSL’s or NSDL’s websites to provide their name.
- Next, they will select the option titled “Easiest electronic access to securities information and execution of secured transactions.”
- Subsequently, the investor must furnish the required details.
- Once the details are provided, the investor can print the form and send it to their Depository Participant after completing it.
- Following submission, the DP will manage the remaining procedures, including verifying the investor’s completed paperwork.
- Upon authentication, the investor will receive an email confirmation at their registered email address.
- Use these to log in and initiate the transfer from one Demat account to another.
