Demat account helps you to take advantage of online trading platform where you hold your financial security on a standardized electronic system. An investor can have multiple demat accounts. If you have multiple demat accounts, you can transfer shares from one account to another. This work is done both online and offline.
Offline Share Transfer
- Shares can be transferred offline from one demat account to another demat account if the shares are held in the depository of NSDL or CDSL.
- For this you need to fill delivery instruction slip.
- These things have to be filled in the form- ISIN number of the share to be transferred, Company name, Demat account and DP ID of the account to which the shares are to be transferred.
- After filling the form, this form has to be submitted at the office of the broking company.
- After the form is processed, the shares will be transferred to another demat account.
- this Keep in mind that the broker may charge you a fee for processing the share transfer application. By the way, there will be no fee for closing the old demat account.
Online Share Transfer
- Shares held in CDSL depositories can be transferred online.
- You have to use ‘EASIEST’ platform.
- First of all You have to register on this link https://web.cdslindia.com/myeasi/Home/Login.
- Fill the details of the Demat account in which the shares are kept.
- Its Add the Demat account to which the shares are to be transferred.
- After 24 hours you can transfer the shares once the account is added.
Demat Account Opening Process
- Visit the official website of the preferred Depository Participant (Broker).
- Fill in the simple lead form, giving your name, phone number and place of residence.
- Next You will get an OTP on the registered mobile number.
- Enter the OTP to receive the next form. Enter your KYC details like date of birth, PAN card details, contact details, bank account details etc.
- Your demat account is now opened. You will get the details like demat account number on your email and mobile.
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