In overall, transferring shares between Demat accounts is a simple procedure. It is essential to verify whether shares are held by NSDL or CDSL before transferring them. This is so because the transfer method is determined by the broker-affiliated depository.
The transfer will be intra-depository (or off-market) if your new and current brokers are associated with the same depository. On the other hand, there will be an inter-depository transfer if they have connections to separate depositories.
It’s important to remember that fees, taxes, and transaction costs could all be incurred when moving shares between Demat accounts. Depending on the Depository Participant (DP) and the kind of shares being transferred, these costs may change. For this reason, it’s best to confirm with your DP whether any costs apply before starting the transfer. Furthermore, it is usually advised to verify the information supplied twice during the transfer procedure in order to prevent mistakes.
Here Effortless Share Transfer: Your Guide to Moving Shares Between Demat Accounts
- The Delivery Instruction Slip (DIS) is completed by the investor and sent to their present broker.
- The broker then sends the application or DIS form to the depository.
- The shares are then transferred to the demat account by the depository.
- After successful transfer of all shares, the investor’s new Demat account reflects the same.
Steps To Transfer Shares Online:
- The investor should first enter their name by clicking the “Register Online” button on the websites of NSDL or CDSL.
- After that, they’ll choose “Easiest electronic access to securities information and execution of secured transactions.”
- The investor then needs to provide the necessary information.
- After providing the necessary information, the investor can print the form, fill it out, and mail it to their Depository Participant.
- The DP will oversee the following steps after submission, which will include confirming that the investor has completed all necessary documentation.
- The investor will receive an email confirmation at their registered email address upon authentication.
- To begin the transfer of funds from one Demat account to another, use these to log in.
