How to Transfer Shares From Another Demat Account to Sharekhan?

Last Updated: Mar 21, 2024 Value Broking 3 Mins 1.4K

A vital part of managing your investments is moving shares between Demat accounts. Both online and offline techniques are available for this. The online process is gaining ground even if the offline approach is more popular. This article explains how to move your shares effectively by breaking down the procedures for both strategies in an understandable manner.

How to Transfer Shares Offline?

1) Information Gathering

Prepare the relevant data before starting an offline share transfer:

List of shares to be transferred.

Each security has an ISIN (International Securities Identification Number). Financial securities are identified by this 12-digit code only

2) Desired Client ID

The new Demat account is indicated by the Target Client ID, a 16-character identifier that combines the client’s and DP’s IDs.

3) Selecting Transferring Mode

If both Demat accounts are located in the same depository, the transfer type is intra-depository or off-market.

4) Inter depository transfer

If the accounts are with various depositories, this is known as an inter-depository transfer.

5) Debit Instruction Slip (DIS) Submission

The DIS slip can be obtained from your DP (Depository Participant); fill it out and sign it. Obtain an acknowledgment receipt before submitting it to your current broker or DP. Within three to five business days, the shares will be transferred, with various brokers charging different possible fees.

How to Transfer Shares Online?

Step 1: Register Online

For online share transfers, follow these steps:

Visit the CDSL website (www.cdslindia.com).
Click on “Register Online.”
Select the EASIEST option (Electronic Access to Securities Information and Execution of a Secured Transaction).

Step 2: Fill Out the Form

Fill out the form with essential details:

DP ID (broker’s ID).
BO ID (Beneficial Owner, the Demat account holder).
Email, phone number, and more.

You’ll receive a one-time password (OTP) on your registered mobile number. Enter the OTP in the provided box. Your registration will be complete within 24 to 48 hours once your mobile number is validated.

Step 3: Print the Form

After completing the form, choose “Print Form” from the menu.

Step 4: Verification and Password

Once your DP verifies the form, you’ll receive a password via email. Use this password to log in and initiate share transfers.

Conclusion

Both online and offline share transfers between Demat accounts are options. Online transfers provide the convenience of digital processing, whereas offline transfers entail physical forms. Remember to compile all relevant information and select the proper transfer mechanism based on the state of your accounts as depository. You may effectively handle your share transfers and guarantee the correctness and safety of your investments by adhering to these few measures.