Few queries:
How to open Non POA Demat Account with Zerodha?
I have recently opened an account with Zerodha, the POA generated online, has one clause,
Clause 23.
“To authorize Zerodha to transfer the securities to any of the demat accounts of Zerodha as mentioned in Annexure B”
Does this mean, the securities will be transfered to your account from my account, whenever, you want, as I am issuing POA to you?
To add shares to your demat you do not need a POA. However, To sell shares in your DEMAT, you need to sign and submit the POA.
Print the POA, sign the form and sent it you their Bangalore HQ.
It does not work that way. This is a mandatory requirement by all Demat Providers.
@ankurjalgaonkar : i have my demat account with a cooperative bank and trading account with 2 different brokers one is a big brokerage house, Ltd company and the other is a very old Nse member proprietorship firm.
POA is not needed .
Ok… wanted to know, do we need POA to transfer shares from one demat account to another?
@ankurjalgaonkar : EITHER you have to give poa ,normally to a broker where you have trading account and the broker will do on your behalf OR you have to do it yourself through Speed e ( nsdl ) or Easi ( cdsl) or dis slip .
Who are top 3 discount brokers+DP with NSDL?