Is it possible to transfer shares from one demat to another demat

Discussion in 'Brokers & Trading Platforms' started by shanmg, Aug 17, 2005.

  1. shanmg

    shanmg New Member

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    Hi

    Recently I opened demat+trading account in Geojit and i want to open an account in Sharekhan(as it scores more compared to Geojit). My doubt is,

    *if i hold any shares in the demat account opened through Geojit, can i close that demat account and transfer the shares to the new account which i open in Sharekhan?if it is so whats the procedure?

    *Is it possible to open just trading account in Sharekhan and use the demat account provided by Geojit?

    *whats the procedure to close the demat accounts???

    :confused: :confused: :confused:
     
  2. bhangima

    bhangima Member

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    You can transfer shares from one a/c to another demat a/c just the way you can transfer money. However, you will be charged with some amount (something like 0.05 percent) when you "take the shares out of" a given demat a/c (there should not be any charge at the depositing end). Again, there may be difference between service providers in this aspect.

    As for closing the a/c, you just need to tell them that you want to close, the way you do in case of a normal bank a/c.

    Using the trading a/c by one service provider when you have the Demat a/c with someone else - this also should be possible - unless sharekhan made it a "package" offer (like all or none). If I remember it right, Sharekhan folks allow you to do so. You may just call them and check.
     
  3. shanmg

    shanmg New Member

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    thnkssssssss bhangima
     
  4. madie

    madie New Member

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    hey one more thing. if u are trasfering all your holding from one demat account to a new demat account and both the demat accounts are in your name then there are no trasfer charges. this is as per NSDL circular , so do take care of this .

    happy trasferring.
     
  5. MAHESHN

    MAHESHN New Member

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    How Can I Transfer Shares From My Icici Demat Account To Another's Icici Demat Acount?please Any One Tell Me...
     
  6. MAHESHN

    MAHESHN New Member

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  7. adgmt

    adgmt New Member

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    I have demat a/c. in Bank of India & trading a/c. with asit c. mehta. (Bank of India has tie up with Asit C Mehta). Now I want to transfer some shares to my mother's Demat a/c. which is also in Bank in India same branch. So what procedure i have to follow for this? Thanks in advance.
     
  8. nishantvarma

    nishantvarma Member

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    Hi ,

    Is it possible to transfer from ICICIDirect to Indiabulls ? What brokerage do they charge for this ?
    ICICI is NDSL and IB is CDSL . So please clarify how much they charge etc .
    Also is it worth doing that especially to keep shares in IB for longer term ?
    I like icicidirect.com certain features btw . Let me know ur thoughts .
     
  9. CaptainCarrot

    CaptainCarrot New Member

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    Dear Madie,

    Can you please guide me to the relevant circular? I tried searching for this, but had no luck online.

    Thanks a ton!
     
  10. ajinkys

    ajinkys New Member

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    my mother has shares of a company in physical form ( certificate ) and it's a joint account with one of her friend who used to work with her ( as 2nd applicant ) . they BOTH have their ' before marriage names ' on the share certificate .
    we want to transfer the total ownership of the shares on my mom's NEW ( after marriage name) name
    this was like back in 1986 im sure her friend is pretty much married and hence must be having a new name and add. and signature ( i assume )
    it would really help me if someone just briefs me the detail procedure in lucid terms as i barely know anything about transfer form and where do i get it and other things .
    thank you in advance .
    i stay in thane ( mumbai )
     
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