How to transfer share in one DMAT to another DMAT account ?

Question

I have a dmat account in X bank in other city... I have newly opened a dmat account in Y bank.... how can I transfer my shares in X bank account to Y bank account....both the account are in my name..with same PAN number..

Answer 1

You can transfer shares from one a/c to another demat a/c just the way you can transfer money. However, you will be charged with some amount (something like 0.05 percent) when you "take the shares out of" a given demat a/c (there should not be any charge at the depositing end). Again, there may be difference between service providers in this aspect.

As for closing the a/c, you just need to tell them that you want to close, the way you do in case of a normal bank a/c.

Using the trading a/c by one service provider when you have the Demat a/c with someone else - this also should be possible - unless sharekhan made it a "package" offer (like all or none). If I remember it right, Sharekhan folks allow you to do so. You may just call them and check.

Answer 2

At the time of opening demat account with X bank he must have given you a transaction slip book ( like a cheque book). Fill the details of your Y bank in that transaction slip and sign and hand it over to the X bank. If the signature is tallied then X bank will transfer all the shares listed in the transaction slip to your Y demat account. The ISIN nos required to fill in this slip are available in the Demat statement of X bank Demat account.The normal time period is 3 days.

Answer 3

Use One Dmat form enter the another demat number & demat name & Demat ID on OFF Market side & cross Market Trade side and Write the Script & INE number & Qty and Signature below mentioned and submit to One Dmat office they will then transferre that Script to another Dmat & debit you an amt. for every script.

Answer 4

call the helpline of the bank to where u want to transfer your demat account...

Answer 5

fill up inter depositary slip of the previous demat account &submit it to new account

Answer 6

hi Sumithra, the respond is: it relies upon. in case you opt for for to proceed the two the demat money owed, you will ought to pay the expenses as desirable. yet once you opt for for to close one demat account, you are able to pass the shares for unfastened. you are able to ask the DP correct to the technique for the comparable.