Table of Contents
Why Transfer Shares From Zerodha Demat Account to Dhan Demat Account?
How to Transfer Shares From a Zerodha Demat Account to Dhan Demat Account?
How to Avoid Share Transfer Rejection?
Switching from one brokerage to another is not uncommon. In the ever-evolving landscape of financial markets, it is a decision that is often taken by investors who wish to explore new avenues to optimize their investment strategies. Are you considering moving your shares from Zerodha Demat Account to Dhan Demat Account? Know the steps to make the process of transferring your holdings seamless.
Open an account with Zerodha.
Why Transfer Shares From Zerodha Demat Account to Dhan Demat Account?
Transfer of shares from one Demat account to another is nothing but a strategic decision. Such a decision is made by investors for various reasons. When it comes to transferring your shares from Zerodha Demat Account to Dhan Demat account, this move might be influenced by various factors:
It is important for you to understand the unique services and features offered by Dhan Demat account. As an investor, you might like to get your shares transferred from Zerodha Demat Account to Dhan Demat account for a more competitive and customized suite of services, such as:
- Research insights
- Advanced trading tools or
- A different type of fee structure that aligns with your trading preferences better.
Also, the stellar reputation of the customer service of Dhan Demat account might be another good reason to make a transfer. A responsive, seamless support system is important for addressing a smooth trading experience and resolving issues. If you get a better customer service from Dhan Demat account than Zerodha Demat Account, you have another compelling reason to make the transfer of shares.
Read on: Zerodha to Upstox: How to Transfer Shares?
Changes in investment goals or strategies can prompt you to look for a demat account that aligns with your evolving needs better. Dhan Demat may offer investment products, specialized services, or research tools that specifically cater to your existing financial objectives. In such cases, a switch is a better option.
It is essential for you to assess whether your chosen demat account is compatible with your trading habits and goals. If you find that Dhan Demat aligns better with your preferred asset classes, trading frequency, or risk tolerance as an investor, the decision to transfer shares becomes a strategic move to optimize your overall investment portfolio.
How to Transfer Shares From a Zerodha Demat Account to Dhan Demat Account?
You have to follow a step-by-step process in order to get shares transferred from Zerodha Demat Account to your own Dhan demat account.
Submit the DIS
First of all, you have to submit the delivery instruction slip or DIS to this address mentioned below.
Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru – 560078
Transfer Request Verification
After the DIS slip is received by Zerodha, there will be a verification of the transfer request conducted over email or on call for the purpose of security.
The email or call is made within 48 business hours of the receipt of documents on the part of Zerodha. Keep in mind that only after successful verification, the transfer request from Zerodha Demat Account will be processed.
Video Verification
In case the value of transfer from Zerodha Demat Account is more than 5 lakh rupees, there will be a need for video verification of every account holder involved.
Beneficiary Detail Verification
If Annexure A is sent for adding beneficiary, you (the sender) will get an email for beneficiary detail verification for off-market transactions. It is necessary to follow these important steps in order to get the beneficiary details verified:
- You have to click on the link that you find in the email sent to you from Zerodha.
- Next, you have to enter your Zerodha Demat Account number and PAN number. The Zerodha Demat Account number that you have to enter is supposed to be your 16-digit ID.
- Next, you have to click on Submit.
- After that, you have to make a tick on the details of the beneficiary.
- Following this, you should click on the button to generate One Time Password or OTP.
- After you enter the OTP, you have to click on the button ‘Accept’.
- Finish the process by clicking on ‘Ok’.
Once you complete all these steps successfully, an OTP and a link to the CDSL website will be sent to your email id as well as your mobile number that you have registered with the broker. It is important for you to note that you should enter the One Time Password on the executed date before 8:00 p.m.
Read on: Zerodha Fund Transfer: Top 4 Ways to Transfer Funds to Zerodha Trading Accounts.
How to Avoid Share Transfer Rejection?
If you do not want the share transfer from Zerodha Demat Account to be rejected, you have to abide by these important guidelines:
- First and foremost, you should not sell shares which are being transferred prior to the DIS execution approval. Keep in mind that in rare circumstances, there might not be any rejection of the sale transaction. In that case, it can proceed to auction. In such types of circumstances, you (the client) have to bear the auction charges.
- You have to make sure that the requisite fund balance is there in your trading account.
- Following this, you have to offer the NSDL CMR copy if you select Transfer to Own Account(s) as the reason for your transfer of shares from Zerodha Demat Account to Dhan account.
- In case of any overwriting or corrections you have to make a countersign.
There is a charge applicable – 25 INR per ISIN or 0.03% of turnover – whichever is more. Additionally, you have to pay 18% by way of GST or Goods and Services Tax. The charges will apply even if you do not enter the OTP from your end.
Open an account with Angel One.
Conclusion
When you follow these steps diligently, transfer of shares from Zerodha Demat Account to Dhan Demat Account becomes a simple process. It is crucial to stay informed and communicate with the customer support teams of both brokerages, if you encounter any issues. This holds true for any financial transaction. By choosing Dhan Demat Account over Zerodha Demat Account, you can gain access to a user-friendly platform as well as take a step towards optimizing your investment journey. Always consider the terms and conditions associated with share transfers, including any fees or charges that may apply, before you get shares transferred.
