If you are looking to learn how to transfer shares from one Demat account to another, then worry not! You have reached the right place. Though transferring shares from one Demat account to another may seem difficult at first, it's actually a very simple process if you follow the steps carefully. Whether you are doing this to switch brokers, manage your shares better, or give shares to your family, here’s an easy guide for you to read. Let’s learn how to transfer shares from one Demat account to another, whether you wish to do it online or offline.
Why Do You Transfer Shares?
There may be several reasons you may need to transfer shares between Demat accounts:
- Changing Brokers
- Combining Multiple Accounts.
- Gifting or Inheriting Shares
- Better Management for Investments
What You Need to Transfer Shares
Now, before we go on to understanding the process, learn what you need to transfer shares.
- Active Demat Accounts: Both, the account you are transferring from and the account you are transferring to, must be active and meet KYC requirements.
- Delivery Instruction Slip (DIS): For offline transfers, you need a DIS, which you can get from your broker.
- Client ID and DP ID: You would need the Client ID and DP (Depository Participant) ID of the account you are transferring to.
How to Transfer Shares from One Demat Account to Another
Now that you know what you need to have to transfer shares, you can choose any of the following methods:
- Method 1: Offline transfer using a Delivery Instruction Slip (DIS)
- Method 2: Online transfer through the CDSL or NSDL system.
Also Learn: Differences Between Dematerialisation and Rematerialisation of Shares
Method 1: Offline Transfer Using a Delivery Instruction Slip (DIS)
Step 1: Get the DIS Slip:
Ask your broker for a Delivery Instruction Slip (DIS). This is a form that you need to fill out to transfer your shares.
Step 2: Fill in the Details:
Fill in the slip with the Client ID and DP ID of the account you are transferring, the ISIN number (International Securities Identification Number), and number of shares you want to transfer.
Step 3: Submit the DIS Slip:
Now, submit the completed DIS slip to your broker. From there, they would handle the transfer process.
Step 4: Get a Confirmation:
Once the shares are transferred, get a confirmation that they have been credited to the new Demat account.
Method 2: How to Transfer Shares from One Demat Account to Another Online
If you prefer to transfer shares online, you can do this using CDSL Easiest or NSDL SPEED-e, depending on where your Demat account is held.
Transferring Shares Using CDSL Easiest
Here’s how you can do it:
Step 1: Register for CDSL Easiest:
Ask your broker for the CDSL Easiest registration form. Fill it out and submit the required documents. Once approved, you will get login credentials to access CDSL Easiest.
Step 2: Login and Start the Transfer:
Now, visit the CDSL Easiest website and log in using the details provided. Next, go to the 'Transaction' tab and select 'Setup'.
Step 3: Enter the Transfer Information:
Enter the Client ID and DP ID of the account you are transferring to and also the ISIN and the number of shares you want to transfer.
Step 4: Submit and Verify:
Submit the transfer request and verify it using an OTP (One-Time Password). Once verified, the shares will be transferred, and you will get a confirmation message.
Transferring Shares Using NSDL SPEED-e
If your Demat accounts are with NSDL, then you can use NSDL SPEED-e to transfer shares online. Here’s how:
Step 1: Register for NSDL SPEED-e:
Contact your broker for the NSDL SPEED-e registration form. Once registered, receive login credentials to access NSDL SPEED-e.
Step 2: Start the Transfer Process:
Visit the NSDL SPEED-e website and log in using your credentials. You need to select 'Client to Client Transfer' under the 'Transaction' tab.
Step 3: Enter Transfer Details:
Enter the Client ID and DP ID of the target Demat account. Also, provide the ISIN and the number of shares you want to transfer.
Step 4: Submit and Authenticate:
Submit the request and verify it using an OTP or digital signature. Once verified, you will receive a confirmation message of the share transfer.
Important Tips for a Smooth Share Transfer
- Make sure all the information (Client ID, DP ID, ISIN, number of shares) is right so that you can avoid any delays or errors.
- Track the status of the transfer through the online platform or your broker to make sure everything is going smoothly.
- If there are any problems or delays, reach out to your broker or the Depository Participant (DP) for help.
How to Transfer an Entire Demat Account
Are you looking to transfer your entire Demat account? Here’s how you can do it:
Step 1: Open a new Demat account with a new broker.
Step 2: Request an Account Transfer Form from your current broker.
Step 3: Fill out the form with both your current and new Demat account information.
Step 4: Submit the form to your old broker.
Step 5: Your entire Demat account, including all the shares, will get transferred to the new broker.
Conclusion
Isn’t transferring shares from one Demat account to another simpler than it seems? Of course, it is, whether you do it offline or online. But if you want to make it even easier, Tradejini is a perfect platform for you, offering great brokerage services with low fees and friendly support. With the help of the Tradejini CubePlus app, you can manage your investments, trade, and transfer shares all in one place.
So, download the Tradejini CubePlus app today, without any delay!
Also Read: Discovering Your Demat Account Number: A Guide
