How can I transfer shares from other Demat account to 5paisa account?
- The following is the process for transferring shares online from one Demat account to another.
- The investor needs to register on CDSL or NSDL website.
- Investor needs to select an option of a facility named “Easiest- electronic access to securities information and execution of secured transactions”.
- After that, the investor needs to provide his/her details.
- After filling the form, the investor can print it out and hand it over to the Depository Participant.
- The DP then takes care of the proceedings further. The DP verifies the form filled by the investor.
- Once the investor is verified by the DP, he/she will receive an email on registered email ID which will contain login details.
- He/she can use the password to log in to the account and start transferring shares independently.
The following is the process of transfer of shares from one Demat account to another in brief.
Step 1- The investor fills the DIS (Delivery Instruction Slip) and submits it to the current broker.
Step 2- The broker forwards the DIS form or request to the depository.
Step 3- The Depository will transfer your existing shares to the Demat account.
Step 4- Once all the shares are transferred, the same will be reflected in the investor’s new Demat account.
Below are some details regarding DIS
When an investor opens a Demat account with a stockbroker, he/she is provided with a delivery instruction slip or DIS along with the welcome kit. While applying offline, the investor has to fill the form or slip. Here are the fields to watch out for, while filling in the details:
- Target Client ID: It is a 16-digit identification number that is allocated to the investor. It is the broker’s ID, also known as Beneficiary Owner ID (BO ID)
- ISIN: International Securities Identification Number or ISIN as is 12 digits long. It assists in identifying securities like stocks, equities, notes bonds, funds, etc. It should be mentioned in the slip, along with details of the shares with the quantity.
- DP Name: Here, the name of the stockbroker or Depository Participant must be mentioned.
- Inter Depository: This field is required to be filled up if the investor wants to transfer shares from one depository to another.
- Off Market: This space is filled up for carrying out the transfer of shares within the same depository.
Once all the required information have been filled up and the investor has signed the DIS, the following are the final steps:
- Submission of signed DIS to the current broker by the investor.
- The investor should take the due acknowledgement receipt of the DIS from the broker.
- After this, the broker will require some days to transfer the shares to the investor’s Demat account with the new broker.
Time Required for Transfer of Shares
The current broker requires approximately 3-5 business days for transferring shares from the investor’s old Demat account to the new broker. The charges levied for this service varies from broker to broker.
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