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

[shanmg]

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???

 

[bhangima]

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.

 

[shanmg]

thnkssssssss bhangima

 

[madie]

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.

 

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[adgmt]

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.

 

[nishantvarma]

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 .

 

[CaptainCarrot]

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.

Dear Madie,

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

Thanks a ton!

 

[ajinkys]

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 )