Can we transfer ETFs to another demat account like how we do for equity?
Yes, you can transfer ETFs to another demat account like
you transfer equity shares. Here’s how you can do it:
Steps to
Transfer ETFs:
- Using Delivery
Instruction Slip (DIS):
- Obtain DIS: Get the Delivery Instruction
Slip (DIS) booklet from your current depository participant (DP).
- Fill Out DIS: Complete the DIS with the
following details:
- ISIN (International Securities
Identification Number) of the ETF.
- Name of the ETF.
- Number of units to be
transferred.
- Demat account number of the
recipient.
- DP ID of the recipient’s
broker.
- Submit DIS: Submit the filled DIS to your
current DP for processing.
- Online Transfer (if available):
- Log In: Log into your demat account if
your DP offers online transfer services.
- Initiate Transfer: Enter the required details,
such as the ISIN, recipient’s demat account number, and DP ID to initiate
the transfer online.
Important
Considerations:
- Charges: There may be charges for
transferring ETFs, similar to equity transfers. Check with your DP for
specific fees.
- Processing Time: Transfers typically take a few
days, depending on the DP’s procedures.
- Accuracy: Ensure all details provided are
accurate to avoid delays or errors in the transfer.