transferring shares from one demat a/c to another.

#1
Question for Traderji and other knowledgeble friends:

What is the procedure for transferring the Shares from one demat a/c to another? For example, if I want to switchover to a different online demat service provider (and discard the previous service), how do I transfer the shares from the old a/c to the new one? Common sense (?) tells me that the transfer should be something similar to the cash funds, but I request someone to shed moe light on this, and also I would like to know if there would be any "charges" involved in such kind of transfer.

Forgive me if this is a repeat question at the forums, but I have not noticed such discussion so far. Thanks in advance.
 
#2
You have to fill up the demat transfer slip under "Off Market Trades" and your shares will be transferred to the other personal account.

There will be a charge for this.
 
#3
Further there would only be a charge in the account from which you are issuing the debit instruction. The account in which the shares/scrips are being credited would not be charged as SEBI/NSDL has waived all charges for credit (or buying) as we refer it.
 
#4
harjeev said:
Further there would only be a charge in the account from which you are issuing the debit instruction. The account in which the shares/scrips are being credited would not be charged as SEBI/NSDL has waived all charges for credit (or buying) as we refer it.
yes , and the transfer takes place in a day or two.
 
#5
i am facing the same problem... but i dont even have the online access of that demat account. in this case what is the offline procedure to transfer the shares? and how much time it will take?
 

alroyraj

Well-Known Member
#7
What is the procedure for transferring the Shares from my friends demat a/c (ICICI) to my demat account (SBI) ?
Every broker provides a delivery instruction Book to the account holder. These you need to get from your friend or else he needs to obtain it from his broker and hand it over to you. It is like a cheque book having numbered slips. It will be only given to the account holder. So he needs to give it to you. Then he needs to sign it after filling his account and your account. The transfer is called an off market transfer. It usually is charged at min rs 15 or 0.02% of the market value.
Another lesser used option is to have the online transfer via CDSL but both of you need to have a CDSL demat account and have it activated. After activation you need to have the digital token dispatched. SO it is quite time consuming too using this method.
 

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