I’m trying to transfer shares from my individual account in PaytmMoney to my joint account in Zerodha, where I’m the first holder in both accounts. I tried transferring using both the ‘Transfer to Own’ and ‘Gift’ categories; however, it was rejected both times with the reason given as ‘Transfer Reason Mentioned Wrong.’ PaytmMoney’s helpdesk was unable to assist me. Which reason should I choose for the trade category? Can anyone guide me in selecting the correct category?
I have not transferred out from Paytm but with other Broker has not been an issue.
After you create the request, it is approved by Paytm team so they are specifically the one’s who will be able to answer. As far as the reason you have selected, they are the only one’s that are relevant esp “Transfer to Own”.
Regarding Joint a/c, i’m pretty sure that should not be the problem. If Primary is different, then “Gift” should be ok.
Hi @barinder
The system doesn’t allow if you select the reason code as own account in case of Joint account.
You can either select “Transfer between family member” and submit or can also select “Gift” as @Chirag1 mentioned.
Thanks for your help! It worked out today, and PaytmMoney has accepted my transfer request. I chose ‘Transfer between family members’ as the category since ‘Gift’ was already rejected by them.
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