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How to Transfer Shares from Dhan Demat Account to Zerodha Demat Account: A Comprehensive Guide for 2024

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How to Transfer Shares from Dhan Demat Account to Zerodha Demat account?

Things You Should Remember

Conclusion

Dhan and Zerodha are two of the top brokers in India at the moment, and are used by many. As a savvy trader, there are times when you would like to prefer one over the other, for some reason or another. Are you looking for transfer of shares from your existing Demat account in Dhan to your Zerodha Demat account? We have a complete guide to help you transfer shares easily from Dhan Demat account to Zerodha Demat account in easy steps, so as to ensure optimum convenience for you.

Open an account with Zerodha.

How to Transfer Shares from Dhan Demat Account to Zerodha Demat account?

Zerodha is known for its various advantages for investors and traders out there. Naturally, transfer of shares to its Demat account from Dhan or any other broker is a good strategy. Zerodha Demat account is popular for its advanced trading tools, research insights and affordable fee structure that is found to align better with the trading preference is of many investors in India. Its superlative customer service is also another important reason why many traders opt for it.

Zerodha boasts of a seamless and highly responsive support system for addressing and resolving issues while trading. Transfer of shares to its demat account can help satisfy your evolving needs and easily take care of your existing financial goals.

You can transfer shares from Dhan demat account to Zerodha Demat account in two ways. These include:

Closure cum Transfer

In case you need to close the account existing currently (after share transfer to Zerodha Demat account) you have to follow this method.

  • In order to start the process you have to get the Closer Cum Transfer forms from Dhan.
  • Submit it along with a Client Master Report or CMR, signed in a digital or physical way and sealed properly.

Note that this specific method of transfer of shares is used for the purpose of Self-Transfer. It is not used for transfer of securities to some other individual. In case the transfer of shares happens between joint accounts, the sequence of the primary as well as the secondary account in the current account and also the Zerodha account needs to be the same.

For instance, if you are the primary holder and your brother happens to be the secondary holder of the current Dhan demat account, in order to facilitate share transfer to the joint demat account in Zerodha, you need to be the primary account holder and your brother has to be the secondary holder of the account, and not the other way around.

It is necessary to point out here that transfer of security is only possible in the same BO or Beneficiary Owner status. In other words, transfer of security can only be done to an individual account from an individual account and not to a Joint Account, HUF Account, NRI account from an individual account and vice versa. You can find the Beneficiary Owner Status on the Client Master Report. In case the securities happen to be under a lock-in-period, it is impossible to transfer them to NSDL from CDSL or vice-versa with the help of the CMR.

Check out Zerodha Charges – Account Opening Charges, Account Maintenance Charges etc.

Off-Market Transfer

This is the second method. In case it is necessary for you to transfer securities to Zerodha with no closure of your account existing currently with Dhan, you have to follow this process.

  • In order to start this method, you have to get the DIS or Delivery Instruction Slop from Dhan.
  • Fill out all your demat account details, as necessary, and then submit to Zerodha.

You can transfer securities between any BO or Beneficiary Owner status. This means that transfer of securities can be done to an individual account from an individual account and from an individual account to HUF account, NRI account or Joint account and vice versa.

In case NSDL is the depository of your existing broker (Dhan in this case), you have to use inter-depository slips. Make use of intra-depository slips if the depository of your Dhan broker is CDSL.

Some brokers permit share transfer online. It is important for you to get in touch with Dhan to find out whether online share transfer to Zerodha Demat account is allowed.

By following any of these two steps, you can facilitate the transfer of shares from your Dhan demat account to Zerodha Demat account without any difficulty whatsover. Keep in mind that some technical issues or other factors can also play important to role in the share transfer process. In case you meet with any difficulty, it is a good idea to get in touch with the customer support representatives of both brokers. It will help obliterate the problems and get share transfer happen in a smooth and seamless fashion on your part.

Open an account with Angel One.

Things You Should Remember

It is important for you to note that the acquisition prices and trade dates for every share transfer to Zerodha Demat account can be updated manually, for proper portfolio tracking purposes. For securities transferred, the Buy Average price will show as Not Applicable or N/A until you update the price.

The shares that are transferred can be viewed under holdings on Kite and Console.

For closure cum transfer across all brokers, you do not have to pay any charge whatsoever.

You have to get in touch with your existing broker for off-market transfer charges.

You cannot transfer shares from a resident account or NRO account to an NRE account.

Read on: Zerodha to Upstox: How to Transfer Shares?

Conclusion

In 2024, Zerodha stands as one of the top choices as a broker, catering to diverse needs with its powerful features and tools. While Dhan is catching up fast, and has become quite popular in the recent years, if you wish to transfer securities to your Zerodha Demat account for some reason, you can do it with little difficulty when you follow our step by step guide. We hope that you find it easy!


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