How Do You Transfer Shares From Another Demat Account to ICICI Direct?

Last Updated: Mar 19, 2024 Value Broking 2 Mins 2.4K

A Demat account is an essential tool for any investor in the stock market. Apart from storing shares and securities, it also allows for the seamless transfer of shares between accounts. This article aims to provide a step-by-step guide on how to transfer shares from another Demat account to ICICI Direct, a popular trading platform.

Transferring shares from another Demat account to ICICI Direct can be easily done online for convenience and speed. Follow these steps to initiate the transfer:

Steps to Transfer Share from Another Demat Account to ICICI Direct

Step 1: Register online: Visit the ICICI Direct website and navigate to the ‘Register Online’ section.

Step 2: Select the transfer option: Choose the specific option for transferring shares from another Demat account.

Step 3: Complete the required details: Fill in the necessary information as prompted by the form.

Step 4: Submission to Depository Participant (DP): Print out the completed form and submit it to your Depository Participant (DP) associated with ICICI Direct.

Step 5: Verification by central depository: The DP forwards the form to the central depository for verification, where your information will be authenticated.

Step 6: Receipt of login credentials: Within a few days, you’ll receive login credentials via email after successful verification.

Step 7: Log in and transfer shares: Log in to your ICICI Direct account using your received credentials. Access the option to transfer shares and follow the guided steps to complete the transfer from the other Demat account.

It’s important to note that online transfers offer greater convenience and swiftness compared to offline methods, facilitating a seamless transfer of shares to your ICICI Direct account.

Transferring shares between Demat accounts, including to ICICI Direct, is a straightforward process with the right documentation and knowledge. It allows investors to manage their portfolios more efficiently. However, knowing the potential tax implications is crucial to ensure a smooth transfer process. Consulting a tax expert or financial advisor can provide valuable insights before executing any share transfers.