Published : 20 Jan 2023
Online transfer of shares from one Demat account to another · Shares can also be shifted from one Demat account to another online. The following steps give an idea of the process. · The investor needs to register his name on the CDSL or NSDL website by clicking on the “Register Online” button.
· Then comes the selection of an option of a facility named “Easiest- electronic access to securities information and execution of secured transactions”. · The DP then takes care of the proceedings further. He verifies the form filled by the investor. · Once the investor is verified of his authenticity, he will receive an email in his registered email ID.
· He can use the password to log in to the account and start transferring shares independently. After that, the investor needs to provide his details. · After filling the form, the investor can print it out and hand it over to the Depository Participant.
Manual Transfer of Shares Shares can be transferred manually. Here the process of transfer of shares from one Demat account to another is offline: · Target Client ID: It is a 16-digit identification number that is allocated to the investor. It is the broker’s ID, also known as Beneficiary Owner ID (BO ID) · ISIN: International Securities Identification Number or ISIN as is 12 digits long. It assists in identifying securities like stocks, equities, notes bonds, funds, etc. It should be mentioned in the slip, along with details of the shares with the quantity.
· DP Name: Here, the name of the stockbroker or Depository Participant must be mentioned. · Inter Depository: This blank is required to be filled up if the investor wants to transfer shares from one depository to another. · Off Market: This space is filled up for carrying out the transfer of shares within the same depository.
Once all the required information has been filled up and the investor has signed the DIS, the following are the final steps: 1. Submission of signed DIS to the current broker by the investor. 2. The investor should take the due acknowledgement receipt of the DIS from the broker. 3. After this, the broker will require some days to transfer the shares to the investor’s Demat account with the new broker.