How to Transfer Shares From one Demat to Another Online?

So, if you are looking for ways to transfer shares from one Demat account to another first you need to open a Demat account. Irrespective of whatever reason you want to move your stocks, we are here to help. We understand the trouble and have listed some simple steps to assist you. In this article, we educate you on how to transfer the shares from one Demat account to another online. If you follow the steps mentioned below, it will simplify the entire process for you. 

Why Transfer Shares from One Demat Account to Another?

You might want to transfer shares from one account to another if you have multiple Demat accounts. You can transfer shares from one Demat account to another if you’re going to consolidate your holdings or move your investments from one particular broker to another. You can also use this facility as a means of transferring ownership of shares from one person to another. Either way, you can do the transfer process without much hassle. 

It is important to note that there is no fee for transferring shares between two accounts held by the same holder, whereas a fee is levied for each transaction where the holders are not the same.

Here are a few common examples of why you might want to move your shares from one account to another.

• You may have a separate investment portfolio for each financial goal (retirement, vacation home, etc.). When you open a new account, it’s often better to transfer the shares from your old account into the new one. All your stocks will be in one place then.

• You may have multiple investment advisors managing different aspects of your investments. If this is the case, you’ll want your advisor’s name on all of your accounts. It will help them access all of your information for trading and investing purposes.

Stakeholders Involved in Transferring Shares from a Demat Account

Here are the parties involved in transferring assets from one Demat account to another.

• Investor
• Current and new broker
• NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited)

Share Transfer Process from one Demat Account to Another

To transfer shares of a company from one dematerialized account to another, you need to do the following:

• Apply with required documents and payment of fees to the depository participant (DP) that holds your current dematerialized account.
• The DP will then transfer the shares from your current dematerialized account to the new one.
• You may then submit the share certificates and a declaration form for cancellation at your current DP.

H2 – Considerations to Follow When Transferring Shares from One Demat Account to Another

Here are a few things to consider when transferring shares from one Demat account to another.

• Your current DP will likely levy a service fee for the transfer. Charges depend from one DP to another.
• The process will be free of cost if you are closing your account with the DP.
• If you want to close your account, you need to return the unused delivery instruction slip (DIS) to the DP. 

Transfer Time for Sending Shares from one Demat Account to Another

Transferring shares from one Demat account to another is just a matter of transferring the ownership of those shares. It is the same thing you would do if you were selling them on a stock exchange. You have to ensure that you follow all the requisite steps and share documents requested by your DP. It will take about 3-5 working days for the transfer to happen.

Bottom Line

As you can see, it is not difficult to transfer shares from one Demat to another online. The entire process is quite simple and hassle-free. All you need to do is go through a few steps, and you will get done with it. The whole process will take only 20-30 minutes of your time if you have all the documents ready beforehand. So, we suggest that you keep all your documents ready before you start the transfer as it will save you a lot of time.

If you are looking to open a Demat account, Choice India will be an ideal platform. Head over to our account opening section to know more. You can also contact us, and one of our customer representatives will assist you with opening the Demat account.

---