Transfer Stock From One Brokerage To Another – Want to move your shares from one demat account to another? Or, transfer shares to a family member or friend? Then, be prepared to visit the dealer or your bank several times. In this age of online transactions, transferring shares between demat accounts remains a physical or offline process for many.

However, some new age stock brokers like Zerodha and Angel One (earlier Angel Broking) and few others give you the opportunity to transfer shares easily online. Online transfer can be done in two ways—either through your debit account or by subscribing to Super Easy CDSL. CDSL is short for Central Depository Services Ltd, and Easiest stands for Electronic Access to Securities Information and Secure Transactions.

Transfer Stock From One Brokerage To Another

Transfer Stock From One Brokerage To Another

But not all demat account providers or depositors like stockbrokers and banks practice this. In most cases, you still have to go the old-fashioned way offline or in person— apply for a delivery instruction slip (DIS), fill out all the information on it, and drop it off at your bank or stockbroker and client manager. report (CMR). A CMR is a digitally or physically signed certificate with your date information, issued by your broker.

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A DIS is like a check, when you withdraw money from one bank account to another. Like a cheque, you can transfer stocks between demat accounts by filling and signing a DIS.

There are two types of transfer of shares. The first is closure cum-transfer, where you close the old account and transfer all the holdings to the new demat account. The second is a partial transfer, where the old account remains active. In case of foreclosure cum-transfer, the process can be done only in physical mode unless the seller prepares it online. CDSL Easiest has no provision for blocking transfer requests. Also, unlike in the case of transfer of shares, where the source and the target demat accounts may be owned by different persons, closure-cum-transfer can be done only between two demat accounts belonging to the same person (one account holders or the same joint. ).

Under the offline route, you must first apply for a delivery order slip (DIS). You can do this through your broker’s app/website or by email, or by visiting the broker’s office. In the case of banks, you can do this through net banking or visiting a designated branch. Most brokers give you the option of having it delivered to your registered address or picking it up at their office. With banks, collecting it in person may not be an option.

Next, the completed DIS should be submitted to the broker’s office/bank branch from where the transfer is initiated to his/her demit account. Note that, in the case of banks, DIS can only be sent to a few designated branches. You need to enter the basic information such as name of the transferring account holder, Deposit Participant ID and client ID of the target demo account, shares (ISIN and value), etc. An ISIN is a unique number assigned to each listed security. You must also submit a CMR. This should be obtained from the broker of the target demat account through which the shares are transferred.

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According to several investors Mint reached out to, the transfer of shares in physical mode took them from a few days to a month after the DIS was posted.

To transfer shares online, you have two options. Firstly you do this through your demat account and secondly using the appropriate depository (CDSL/NSDL) website.

Although some vendors may offer an online transfer option, the process may not be entirely online for security reasons. For example, the initial registration of the ICICI Direct e-instruction process requires at least one of the account holders to submit the form manually. Once your registration is approved, you can transfer shares to any demet accounts (pre-notified, up to five) completely online. There may also be monetary limits on the number of shares that can be transferred online.

Transfer Stock From One Brokerage To Another

You have to register online through CDSL Super Easy if the source demat account (to which the shares are transferred) is in CDSL, and NSDL SPEED-e, if it is in NSDL. The CDSL Easiest registration process is convenient and can be completed online. According to a person familiar with CDSL Easiest, in the event of a jointly held demo account, however, the form will have to be submitted physically and will require a declaration from all account holders in favor of the account operator.

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Once the registration is completed after approval from the dealer, you can start transferring shares to any other demo account, via CDSL or NSDL. All the investors Mint spoke to have only transferred shares between CDSL demat accounts (intra-depository transfers) through Easiest and had a smooth experience. Inter-depository transfers, however, come with additional steps.

To ensure that the fraudulently transferred shares are removed from your demat account, there are safeguards built into the system. According to Harshad Malushte, head – DP operations, HDFC Securities, as an additional security measure, the request for transfer of shares through CDSL/NSDL should be approved through an OTP sent to your registered email ID and mobile number.

No charges apply if you close your demet account and transfer all your savings to another demo account. In the case of share transfer only, the cost is minimal—a small percentage of the transfer value or a flat fee like ₹15-25 per share. In case of transfer of money involving specific consideration (payment of transferred shares), stamp duty is applicable.

When you transfer shares, are records of your original purchase prices and values ​​kept? One investor pointed out that such information of transferred shares was not visible in his dematoge target account (Groww), and he had to extract this information from his source account (Angel) and save it for future use. But according to another investor, he was able to see this information after the share was transferred from his Zerodha to Paytm Money demat account. “Some dealers are giving customers the option to update the purchase price and date manually on their mobile app or web portal,” said Hina Qureshi, senior vice president and head of digital business, Mirae Asset Capital Markets (I) Pvt. Ltd.

How To Transfer Shares From One Demat Account To Another?

“The transfer of shares from one demet to another demet owned by the same person is not a taxable transfer,” says Neeraj Agarwala, partner, Nangia Andersen India. He explains that when shares are transferred from A to B as a gift, tax is due. in their relationship. If A and B are members of the same family (in a relationship defined as parent and child or spouses), there will be no tax impact. However, if they are not part of the same family, the employee will be taxed in the hands of B if the total amount of gifts received is more than R50, 000 per year.

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Transfer Stock From One Brokerage To Another

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In Kind Transfers

You are now subscribed to our newsletters. If you do not receive an email from our side, please check your spam folder. As you build your portfolio and grow your investments, you may find that you want to change your brokerage at some point. If you are a stockbroker or mutual fund investor and hold, it is not uncommon to transfer securities from one broker to another.

Transferring or switching merchant accounts doesn’t have to be complicated. ACATS or money transfer can not only help you make the change quickly, but it can also help you save time and frustration.

Unlike other eligible non-ACATS brokers, SG offers the ACATS method to all of our customers from TD Ameritrade. As a faster and easier transfer method than the traditional DTC method, ACATS helps save you time and energy while reducing the chance of errors. More importantly, ACATS allows you greater flexibility in transferring different types of assets in full or partial forms, including stocks, options, and cash balances, which may not be available from eligible non-ACATS brokers.

ACATS stands for Automated Customer Account Transfer Service. If you want to transfer your investment between buyers, this system can help you complete the process with fewer obstacles. ACATS gives investors the freedom to work with a broker that best matches their investment goals. With the help of ACATS, you don’t have to sell your investment, transfer the cash, and then repurchase the shares through a new dealer. Instead, the National Securities Clearing Corporation (NSCC) facilitates transfers between brokerages.

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Most buyers accept ACATS transfers


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