How to Transfer Shares From another Demat Account to Angel One?

Transferring shares from one Demat account to another, especially to a reputable broker like Angel One, can be straightforward if the necessary steps are followed. Two primary methods exist to conduct this transfer: online transfer through CDSL (Central Depository Services Limited) or the ACATS (Automated Customer Account Transfer Service) system for eligible stockbrokers. Each method has steps and considerations to ensure a successful and smooth transfer of shares.

Online Transfer of Shares through CDSL

The online transfer of shares via CDSL is a popular and convenient option. Here are the steps to follow:

1. Register Online with CDSL: Visit the CDSL website (www.cdslindia.com) and choose the ‘Register Online option. Select the EASIEST option (Electronic Access to Securities Information and Execution of Secured Transaction) and provide the required details, including the DP ID (broker’s ID) and BO ID (Demat account holder’s ID). Complete the mobile number verification using the one-time password (OTP) received, and the registration will be processed within 24-48 hours.

2. Fill and Submit the Transfer Form: After registration, fill in the transfer form and select ‘Print Form.’ Submit the printed form to your current DP (Depository Participant).

3. Verification and Password: Your DP will verify the form and send a password to your registered email ID.

4. Initiate Share Transfer: Log in to your CDSL account using the provided password and transfer shares to Angel One.

Manual/Offline Transfer of Shares

Understanding the association of shares with either CDSL or NSDL is crucial for manual or offline transfer of shares between Demat accounts. The transfer process depends on the depository linked with your broker.

Depository Association: Determine if the shares are held with CDSL or NSDL, as it dictates the transfer process based on your broker’s affiliation.

Intra-Depository Transfer: If both your existing and new brokers are associated with the same depository, shares undergo an intra-depository (or off-market) transfer.

Inter-Depository Transfer: Conversely, if brokers are associated with different depositories, shares undergo an inter-depository transfer.

Steps for Intra-Depository Transfer:

• Utilise a Debit Instruction Slip (DIS) provided by your Depository Participant (DP).
• Provide ISIN codes and enter the names of shares to be transferred.
• Input the target client ID, a 16-character code representing the new Demat account.
• If applicable, select the transfer method: ‘off-market’ for intra-depository or ‘inter-depository’.

Completion Steps:

• Submit the filled and signed DIS slip to your existing broker or DP and obtain an acknowledgement receipt.
• Transfer typically takes 3-5 business days, with potential charges applied by the current broker, varying among brokers.

Exceptional Circumstances in Share Transfer:

• Transfer between the Same Depository and No Credits Due: This is a straightforward process if no debits or credits are pending with your current broker.

• Transfer between Different Depositories: Submit a Debit Instruction Slip (DIS) to your present broker for transferring shares to Angel One.

• Transferring Account with Open Positions: Close any open Futures and Options (F&O) positions before moving the account.

• Transferring Account with Credits Due: Resolve any credits pending with your current broker before initiating the transfer.

Transferring Shares through ACATS (for eligible stockbrokers): The ACATS system simplifies the transfer process but requires both the old and new stockbrokers to be ACATS-compliant. Here are the steps involved:

1. Fill Transfer Initiation Form: Complete the transfer initiation form with your new stockbroker.

2. Discussion and Validation: Your new stockbroker contacts the old one to discuss the transfer terms and procedures, and validation begins.

3. Account Transfer: Upon accurate paperwork, the transfer should be completed within 7 working days.

Understanding the steps and potential challenges involved will ensure a seamless transfer of investments without incurring unnecessary taxes or fees. Always check the compliance status of both brokers and gather the required documents to facilitate a hassle-free transfer of shares.