I have a joint demat account with 1st holder : X and second holder: Y
now , if I want to interchange the first and second joint holders viz,
1st holder: Y and second holder: X, Is it admissible in Joint demat a\cs?
One more; i want to transfer and close my individual demat account to my joint account with the same DP, should I use DIS or without DIS
pl clarify
1 Like
it may not be possible to inter change names in joint demat account if you already have securities in the account. if the account balance is nil securities better to close the same and opened a fresh demat account .
closing demat account and transferring all securities to another demat account with the exact name will not incur any charges ( cdsl to cdsl or nsdl to nsdl )wherein transferring the securities through Dis will incur charges,
the joint a\c, in which, I wish to interchange joint a\c holders` names, has NIL securities. In that case is it not possible to interchange? pl reply
May not be possible since for all practical purposes the owner of account is first named holder and you want to change it and make him second named shareholder. however you may kindly ask the helpline of your DP since i do not have ant practical experience of these process.
the DP is none other than Zerodha, and my repeated queries, did not elicit the pertinent reply as I have got an individual and a joint a\c, in which, I wish to close the individual a\c and interchange the joint a\c holders` names , hence
without a correct response, I am confused to proceed in this
1 Like