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What is the procedure to transfer stocks from one demat account to another?
What is the procedure to transfer stocks from one demat account to another?
If you want to transfer your stocks from one demat account to the other you can try any of the two methods available. The first one is the manual method. The second one uses the online service of the Depositories.

Steps involved in manual transfer of stocks.:

1. First, fill the delivery instruction slip (DIS) and submit it to your current depository participant (DP). Fill in the necessary information such as the name of the stockbroker, number of shares to transfer, the Beneficiary Owner ID (BOID) of both the current and new broker. Also, mention the 12-digit International Securities Identification Number which helps in identifying securities.

2. After filling the DIS carefully, submit it to your broker who will forward it to the depository. Take the due acknowledgement receipt of the DIS from the broker.

3. The depository will confirm the transaction after due verification. It will transfer the stocks to the existing demat account to the other.

4. You can view the shares of these stocks in the other demat account once the transfer process is successful.

The Online transfer process includes the following steps.

1. Visit the online portal of Central Depository Securities Limited (CDSL) or National Securities Depository Limited (NSDL) and complete the registration process.

2. Select the facility known as EASIEST. It stands for electronic access to securities information and execution of secured transactions. Through this facility you can transfer your shares online.

3. Fill in the details in the form. Get a print out of the same and send it to the broker.

4. The broker will forward it to the depository. After due verification the stock transfer will take place.

5. You will receive the confirmation via email.

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