Table of Contents
What are the Ways to Transfer Shares from Zerodha to Upstox?
Why Transfer Shares from Zerodha to Upstox?
How to Transfer Shares from Zerodha to Upstox Offline: A Step-by-Step Guide
How to Ensure a Smooth Transfer of Shares from Zerodha to Upstox: Important Guidelines
If you are an investor or trader in the Indian stock market, you may have accounts with different brokerage firms at various times. This can lead to a need to transfer your shares from one demat account to another. While the process may seem daunting at first, it is relatively straightforward once you understand the steps involved. Go through the process of transferring shares from Zerodha to Upstox, two popular online brokerage platforms in India.
Open an account with Zerodha.
What are the Ways to Transfer Shares from Zerodha to Upstox?
There are two different methods to transfer shares from Zerodha to Upstox:
Off-Market Zerodha to Upstox Share Transfers:
An off-market transfer refers to the direct transfer of shares from one demat account to another. To make an off-market sale, submit the filled DIS slip along with the transferee’s payment bank details (the person receiving the shares) to Zerodha at the address mentioned earlier. Stamp duty is applicable as per the relevant slab.
The charges for off-market Zerodha to Upstox transfers are ₹25 per ISIN or 0.03% of the transfer value (whichever is more) along with 18% GST. Ensure you have the necessary balance in your account to cover these charges.
Online Zerodha to Upstox Share Transfers:
If the receiving demat account is held with CDSL, you can perform Zerodha to Upstox share transfer online. You have to refer to Zerodha’s guide on how to transfer shares using CDSL Easiest for more details.
Read our informative post on How to Register for CDSL Easiest?
Why Transfer Shares from Zerodha to Upstox?
Transferring shares from Zerodha to Upstox can be motivated by various reasons.
- One key factor is diversification, as Upstox might offer different investment opportunities or features that align better with an investor’s strategy or preferences.
- Additionally, a change in brokerage platforms could be driven by cost considerations, as fees, commission structures, or trading tools may differ between the two platforms.
- Some investors may choose to transfer shares for a more user-friendly interface or enhanced customer support.
Ultimately, the decision hinges on individual goals and priorities, whether it is optimizing costs, accessing new markets, or seeking a more user-centric trading experience.
How to Transfer Shares from Zerodha to Upstox Offline: A Step-by-Step Guide
Before you proceed, please note that Zerodha to Upstox share transfers typically incur charges, and it is essential to be aware of these fees before initiating the transfer.
Step 1: Check Eligibility
Before you initiate the transfer, ensure that you meet the eligibility criteria for transferring shares between demat accounts. Typically, the following conditions must be met:
- Both the sending (Zerodha) and receiving (Upstox) accounts should be in your name.
- Ensure that both your Zerodha and Upstox accounts are active and have a valid Client ID.
- The shares you wish to transfer must be available in your Zerodha demat account.
- Check with both brokerages for any specific requirements or conditions.
Step 2: Obtain a Delivery Instruction Slip (DIS)
To initiate the share transfer, you will need a Delivery Instruction Slip (DIS). If you do not already have one, you can obtain it by following the instructions provided by Zerodha. The DIS is a crucial document used to authorize the transfer of your securities.
Step 3: Fill Out the DIS
Ensure that you accurately fill out the DIS with the necessary details. You can refer to the instructions provided by Zerodha on how to correctly fill out the DIS. Note that a single DIS can transfer a maximum of 5 securities (ISINs). If you wish to transfer more than 5 securities, you will need to use the DIS Annexure form.
Step 4: Submit the DIS to Zerodha
Submit the filled-out DIS to Zerodha at the following address:
Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru – 560078
Step 5: Verification Process
After Zerodha receives your DIS, it will verify the transfer request through a call or email. This verification is essential for security purposes. If the transfer value is found to surpass ₹10 lakhs, it may be necessary for the broker to demand a video verification of all individuals who are account holders. Typically, Zerodha will contact you for verification within 48 working hours of receiving your documents. The transfer request will only proceed once verification is successful.
Step 6: OTP Verification
Once the verification process is complete, Zerodha will send a link to the CDSL website and an OTP to your registered mobile number and email ID. You must enter this OTP before 8 PM on the executed date to confirm the transfer.
Open an account with Upstox.
How to Ensure a Smooth Transfer of Shares from Zerodha to Upstox: Important Guidelines
You should follow these important guidelines to ensure seamless Zerodha to Upstox share transfer process:
- Do Not Sell Shares Before Approval: Avoid selling the shares you intend to transfer before the DIS execution is approved to prevent any complications.
- Ensure Sufficient Funds: Make sure your trading account has the required balance to cover the Zerodha to Upstox transfer charges.
- Transfer to Own Account: If you are transferring shares to your own account(s), provide the NSDL CMR copy.
- Countersign Corrections: If any corrections or overwriting are made on the DIS, make sure to countersign them.
- Know about the Transfer Charges: Be aware that Zerodha to Upstox transfer charges of 0.03% of turnover or ₹25 per ISIN (whichever is higher) plus 18% GST are applicable. These charges apply even if you fail to enter the OTP.
Check out Zerodha Vs Upstox Comparison 2023.
Conclusion
Transferring shares from Zerodha to Upstox, or between any two demat accounts, is a relatively straightforward process when you follow the right steps. By following this step-by-step Zerodha to Upstox share transfer guide, you can seamlessly transfer your shares and continue your trading or investment journey with Upstox. However, it is essential to ensure that you meet the eligibility criteria and understand the associated fees and charges. Always reach out to the customer support teams of both brokerages if you have any questions or concerns throughout the transfer process.
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