Table of Contents

How to Transfer Your Shares from ICICI Direct to Zerodha and Close Your ICICI Direct Account?

How to Transfer Shares from ICICI Direct to Zerodha Online?

How to Transfer Shares from ICICI Direct to Zerodha Offline?

Conclusion

Are you planning to move your share holdings from ICICI Direct to Zerodha? When it comes to online trading platforms, Zerodha and ICICI Direct are two of the prominent players in India at the moment. As more investors embrace the digital landscape, these platforms have garnered significant attention for their user-friendly interfaces, diverse offerings, and competitive pricing models. Whether you are a seasoned investor or a beginner, here is a comprehensive guide to walk you through the step-by-step process of share transfer from ICICI Direct to Zerodha, in a smooth and hassle-free manner.

How to Transfer Your Shares from ICICI Direct to Zerodha and Close Your ICICI Direct Account?

In order to be able to transfer your shares from ICICI Direct to Zerodha and close your ICICI Direct account, you have to follow these steps:

Step 1: Obtain Zerodha CMR Copy

Start by obtaining a Client Master Report (CMR) copy from Zerodha, which includes your personal information and demat account details with the broker. You can access your Zerodha CMR copy through the Console portal under the Documents section within the Account tab.Next, submit this CMR copy along with the Demat Account Closure form to the ICICI Direct team. This will facilitate the seamless transfer of shares and the closure of your ICICI Direct account at the same time.

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Step 2 – Closing Your Demat Account with ICICI Direct

To initiate the closure of both your demat and trading accounts with ICICI Direct, you will need to complete two separate forms:

i) ICICI Direct Demat Account Closure Form

ii) ICICI Direct Trading Account Closure Form

Once downloaded, print out the ICICI Direct Demat Account Closure Form and carefully fill it out. Additionally, include the Zerodha CMR Copy and submit the completed form either to your nearest ICICI Direct office or via email to helpdesk@icicidirect.com.

Upon receiving the forms, ICICI Direct will meticulously verify all the necessary details, proceed to transfer your shares to your Zerodha account, and ultimately close your Demat account within a period of 7-10 days.

Step 3 – Transferring Shares to Zerodha Online

To move your shares from ICICI Direct to Zerodha, you can conveniently initiate the process through the CDSL portal. If you do not have a Zerodha Demat account yet, you will need to open one first.

How to Transfer Shares from ICICI Direct to Zerodha Online?

We have divided the online share transfer process into two simple parts for your clarity:

I. Registration on CDSL ‘Easiest’ Platform

Before proceeding with the share transfer, you need to register on the CDSL Easiest website.

a) Head to the “CDSLMyEasy” portal.

b) Click on “To Register for Easiest.” This user-friendly platform was introduced to enable easy management of securities and holdings for demat account holders, accessible anytime, anywhere.

c) Fill in your ICICI DP ID and Client ID.

d) Click “Next” and enter the OTP received on your registered mobile number.

Note: The first 8 digits of your demat account number represent the DP ID, while the last 8 digits signify the client ID. You can find your Demat account number by logging into your ICICI Direct trading account and navigating to the “Demat Allocation” Section or clicking on your name at the top of the portal.

e) Begin by providing your personal details such as a chosen username and setting up a security question.

f) Input your Zerodha BO ID (Demat account number) into the “Trusted Details” section and hit the “Submit” button. Then proceed by clicking “Continue.”

g) Moving on to the next tab, known as “Grouping,” this feature enables you to access multiple demat accounts with different brokers under a single CDSL ID. No longer will you need multiple CDSL IDs for each demat account.

To add different demat accounts with this CDSL ID, follow these steps:

1. Click on the “Add” button.

2. Enter the BOID of the demat account you wish to attach to the CDSL ID.3. Click on “ADD BOID.”(Note: If you are not planning to add multiple demat accounts, you can skip this step.)

h) Finalize the process by clicking “Finish,” and your registration will be successfully completed.Once you have completed this straightforward registration process, you will receive two emails from CDSL:

1. The first email will confirm your registration approval.

2. The second email will provide your login credentials.

II. Transferring Shares Online via CDSL Portal

How to Transfer Shares from ICICI Direct to Zerodha Offline?

For those who prefer an offline transfer method, you can choose to transfer shares from ICICI Direct to Zerodha. In this approach, you will need to fill out a Delivery Instruction Slip (DIS) booklet and submit it to your nearest ICICI Direct branch.

Keep in mind that since ICICI Direct does not offer a DIS booklet online, you will need to first fill out an application form before proceeding with the offline transfer.

a) To get started with transferring shares from your ICICI Direct account to Zerodha offline, begin by downloading the DIS application booklet form from the ICICI Bank website link.

b) Once you have the form, determine whether you hold a CDSL or NSDL ICICI Direct account.

c) If you have a CDSL ICICI Direct account, you should proceed with the DIS (Delivery Instruction Slip) method. On the other hand, if you have an NSDL ICICI Direct account, opt for the Inter-depository slip.

d) Print the form and carefully fill in the necessary details. e) Then, take the completed form to your nearest ICICI Direct branch, where they will issue you a DIS booklet containing 10 pages.

When filling out the DIS, ensure to provide the following information:

1. Depository (DP) name – Enter the name of the brokerage where you want your shares to be transferred, which, in this case, is Zerodha Broking Ltd. or simply Zerodha.

2. Target DP ID – This refers to Zerodha’s DP ID, which comprises the first 8 letters of your Zerodha demat account number.

3. Target Client ID – Specify the client ID in your Zerodha account where the shares are to be transferred, which corresponds to the last 8 digits of your Zerodha demat account number.

4. Other security details – Include the scrip (stock) name, ISIN, and quantity.Once you have filled in the DIS, return it to your nearest ICICI Direct branch. The ICICI team will verify the provided details and initiate the share transfer process to your Zerodha demat account, which typically takes 5 to 7 business days.

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Conclusion

So that is how you transfer shares from ICICI Direct to Zerodha Demat account. The online method provides a convenient and swift way for tech-savvy investors, leveraging the seamless interface of the electronic transfer mechanism. Conversely, the offline approach allows for a traditional, paper-based method suitable for those more comfortable with physical paperwork.

Whether you opt for the online or offline process, the key is to carefully follow the outlined steps and provide accurate details for a smooth transfer of your shares.

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