Can I transfer Shares from One Dmat a/c to another

[vicky8verma]

Hi,

I have a Demat a/c in Angel broking and am going for Kotak Securities. Can i Transfer all my shares from Angel to Kotak's demat account. Also is there any charge involved in doing so.

Thanks in Advance

 

[bunny]

Yes, you can transfer the shares from one demat account to another. When you opened the account with angel broking, they must have given you "Delivery Instruction Slip" booklet. Open your demat with kotak and ask the RM to guide you how to use the slip.

 

[asnavale]

Hi,

I have a Demat a/c in Angel broking and am going for Kotak Securities. Can i Transfer all my shares from Angel to Kotak's demat account. Also is there any charge involved in doing so.

Thanks in Advance

Yes, you can transfer the shares in one demat to another. You have to give the off-market transfer voucher to your Angel A/c and get them transferred to Kotak A/c. You have to do it for all of your shares. There is a fee for transferring. Your Angel representative can tell the exact charges applicable. There is another way, where you don't have to pay transfer charges. It is by linking your Angel demat with Kotak. Then you can trade the shares in Angel A/c on Kotak. But this should be permitted by the broker. Find out whether you can link the demat and the procedure to do it from the broker.

-Anant

 

[magnet]

Sorry for bumping this topic

But i am seriously thinking to shift my account.

From the start till now facing one by one new problems with angel broking.

First they took almost a month to open my account whereas the branch told it will be done in 4 days.

Later they said your account was on but it was a phone trading account not online because of which i was shocked as i already had mentioned i do deal in shares from my hdfc account and just shifting to them for brokerage advantage plus i want to start trading in currencies and commodities which hdfc doesnt allow.

Another shock my branch says is they only deals in bse nse no currencies no commodities.

They didnot activated my payout account to online nor did they informed about my cheque being made.I had to personally visit to confirm they have my cheque pending.

Their login of angeltrade doesnt work halfs the the time plus doesnt stand even in front of hdfc as they dont have portfolio managment option within it.Also i dont see options to sell my holding shares and using the direct sell option looks risky to me as i havent done short selling ever .DOnt want to fall in that loop risking and trying the same.

I tried to work on echopda and even that doesnt work.

The software have serious issues with windows 7 and the person on calls says my computer is infected and i should treat my computer rather than working the software.

In short every now and than facing troubles.

Also the payin and payout transfer doesnt look suitable to me .As say i transfer 25000 to angels account and i bought a share worth of 10000.Than 15000 still remains with angel.Now when i reverse the entry in payout and i get 15000 into my account.I can show it as principal reverse.

But i dont get an entry of 10000 in my bank account for share buy which i do see with hdfc as it reverses the remaining account at day end into account with an entry of share buy.

Also the broker person is pressing me to deal in BSE.though i bought shares in nse.I dont like all this interference.

I want to ask 2 questions

1::Why do people here say its preferable to open an account with third party rather than 3 into 1 account?

2:: Is it possible to transfer shares to another new account wherever i open without any angel interference?

I am planning to transfer all my shares and close the angel account later when they ask for next year amc charges.

They also charged me for amc and all whereas all give free first year amc.