CDSL Transfer shares error - Add Beneficiary - Help appreciated

General
1

CDSL Transfer shares error - Add Beneficiary:

Beneficiary set up for off-market transactions is not present for input demat account number

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2

which broker?

I am guessing the said broker has not subscribed to CDSL’'s easiest facility… The problem is many brokers have not enabled this facility.

I had covered this issue over 2.5 yrs back in my story : Make It Mandatory for Brokers To Subscribe to CDSL’s Easiest Facility To Transfer Shares: Retail Investors

3

Bro, this is the page is the authorization page after you setup the transaction via easiest. First, you need access to easiest where you have to add beneficiary

4

Thanks for the reply.

Are you sure, the error is with the target broker?

I’m trying to transfer shares from Zerodha to other broker accounts - the same ERROR with many other brokers - could not add as beneficiaries, to transfer shares.

Are you sure that this is NOT with the host broker (Zerodha, in this case).

5

i can assure you that it is not a zerodha problem… Issue is with other brokers only.

6

name the target broker/(s)

7

To transfer securities from your Zerodha Demat account to another Demat account, you must authorize the receiving account as the beneficiary.
To do this,

  1. In the CDSL OTP authentication page Enter seller’s (​transferor’s) YOUR PAN and Demat Account No. ie your PAN and Zerodha BO ID AND CLICK ON BO SELLER BUYER LINK.
  2. Tick on the beneficiary details and click on Generate OTP.
  3. Enter the OTP and click on Accept.
  4. Click on OK

The detailed step is explained in the GIF file in the support article.

8

if target broker is not on easiest, the process can’t go thru

9

It is not necessary for the target account to be registered with CDSL easiest or Easi, as adding beneficiary details is mandatory for the transferor, even if the target account is with NSDL.

10

Enter sender pan and demat account number here

11

Beneficiary was added, which i can’t authorize.

12

Once you have entered the seller (transferor) PAN and BO ID, click the BO SELLER BUYER link to authenticate the same.

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1 Like
13

I was clicking on SUBMIT button.

there is no sense, providing submit button, here - what a stupid app?

Will check it again, tomorrow, after markets reopen.

THanks a lot, @Vignesh_Gopal_B

14

Any Update on this? I am also having the same issue.