Traderji.com - Discussion forum for Stocks Commodities & Forex


Charges for transfer of shares from one DP to another DP

Discuss Charges for transfer of shares from one DP to another DP at the Investors Grieviences within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi Gurus, I am closing my account with Sharekhan and moving to SMC online. I ...


Go Back   Traderji.com - Discussion forum for Stocks Commodities & Forex > TOOLS & RESOURCES > Investors Grieviences

Investors Grieviences Discuss your personal grieviences and frustrations with stock market intermediatories like brokers, registrars, bankers, etc.


Reply
 
Thread Tools
  #1  
Old 19th November 2011, 05:46 PM
Member
 
Join Date: Dec 2010
Posts: 1
Thanks: 0
Thanked 1 Time in 1 Post
v.avinash20 is on a distinguished road
Default Charges for transfer of shares from one DP to another DP

Hi Gurus,

I am closing my account with Sharekhan and moving to SMC online.
I have opened DP account with SMC in same name and PAN.
I have 11 script with Sharekhan which I would like to transfer to SMC.

Sharekhan states :
You need to fill up the "Off Market" trade portion of your Delivery Instruction Slip to transfer the share to another DP.
The charges for off-market transfer of shares will be levied as under.
"Minimum Rs.30/-per ISIN OR 0.03% of value of transaction (whichever is higher)"
This amount will be charged in your monthly DP Bill.

SMC Online states:
I will be charged Rs. 12 per ISIN for the transfer

But I went to your forum and found that there should not be any charges for transfer of shares if we close the account.
This was in 2005-2006

http://articles.economictimes.indiat...y-participants
http://www.sebi.gov.in/faq/faqdemat.html (Point 15)

IS THIS STILL APPLICABLE ?
Should the Depository charge for transfer of shares from one DP to another if we close the account ?

Any answer to my query is highly appreciated.



Reply With Quote
The Following User Says Thank You to v.avinash20 For This Useful Post:
NTrader42 (22nd November 2011)
Sponsored Links
  #2  
Old 22nd November 2011, 02:19 PM
Member
 
Join Date: Mar 2009
Posts: 119
Thanks: 11
Thanked 19 Times in 17 Posts
abdriver2000 is on a distinguished road
Default Re: Charges for transfer of shares from one DP to another DP

I have transferred shares from one account in HDFC to another and no charges were levied. Not sure, if this was due to both accounts being HDFC.
Reply With Quote
  #3  
Old 29th November 2011, 12:14 PM
Member
 
Join Date: Mar 2011
Posts: 29
Thanks: 50
Thanked 20 Times in 14 Posts
prabuanand is on a distinguished road
Default Re: Charges for transfer of shares from one DP to another DP

There should be no charges for share transfer if you're closing your Demat account as per http://www.sebi.gov.in/faq/faqdemat.html (Point 15).

Eventhough i have not yet done this myself, the right procedure is as follows. Don't give DIS to your current broker for off-market transfer. Instead ask for account closure form. If they don't have a form, then write a plain paper request based on this format 0173069www.icicibank.com/Personal-Banking/demat/PDF/Dematclosure.pdf

Transfer charges will be waived if account/s of transferee DP and transferor DP are the same, i.e., identical in all respects . To avail of the waiver, a Client Master List (CML) for the target account/s needs to be submitted along with the Closure Form.


Reply With Quote
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads for: Charges for transfer of shares from one DP to another DP
Thread Thread Starter Forum Replies Last Post
Transfer of shares.. anishmf Beginners Guide 2 1st July 2010 01:26 PM
Transfer of shares er_shukla Introductions 0 6th June 2010 10:44 AM
transfer of shares dwarakanatha Introductions 0 14th November 2009 02:40 PM
Transfer of shares vman63 Beginners Guide 2 4th November 2009 09:23 AM
transfer of shares to huf voramanan Taxation Matters 0 16th May 2008 11:06 AM


All times are GMT +5.5. The time now is 05:31 AM.

Indemnity, Disclaimer & Disclosure Notice:
By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

Recommended Websites - www.TradersEdgeIndia.com - www.TradingPicks.com - www.MasterOfTrading.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247