is it possible to trnsfr money in my demata/c to anothera/c which is not with my name

Hi Folks,

please clarify my doubt here...

some body told that if your login id and password known to others , they can tansfer your amount/shares in demat a/c(name: X) to their a/c(Name:y). Is it right?
if so, how itz possible?bcz, it's only possible if it is only with linked a/c or other broker a/c with same name only. Somebody please clarify my doubt...

-Thanks,
Ashk

Re: is it possible to trnsfr money in my demata/c to anothera/c which is not with my

no i do not think it can happen....

Re: is it possible to trnsfr money in my demata/c to anothera/c which is not with my

Yes it is possible through off market transfer but only if easiest facility is activated and obviously offered by your broker. If only easi facility is used then this transfer is not possible,so if your broker is near your place and you do not have a secured personal computer then it is advised to go for only easi facility.

Re: is it possible to trnsfr money in my demata/c to anothera/c which is not with my

This facility is offered thru CDSL easiEST @2k per day for first yr and 1k for 2nd yr onwards.

What is Account of Choice Transfer? And who can use the said facility?
Accounts of Choice Transfer permits transfer of securities from the BOs account to any other demat
account including the CM settlement accounts. All the on-market, off-market, early-payin and inter-
depository transactions are authenticated by means of a digital signature (e-token), which is provided
by CDSL at an additional cost. CMs would be able to register for the account of choice option only for
submitting transactions on easiest. Any BO can opt for Account of Choice Facility.

Re: is it possible to trnsfr money in my demata/c to anothera/c which is not with my

Hi alroyraj,
how to know whether easi fecility is activated or not?
can you please guide ...

Re: is it possible to trnsfr money in my demata/c to anothera/c which is not with my

easi never comes pre activated. On opening a new demay barringt account with cdsl or nsdl, an email they will send you with the user id and password to activate the easo facility. This has to be done within 3 months.
Later if you want to upgrade to eas-est,you can do it from easi provided the broker offers it. Most brokers have this facility barring a few like RK Global and Globe Capital.