I have a trusted account in CDSL easiest and want to transfer shares online from one BO to another. However, I donot see the option to transfer shares.
How can I transfer the shares online?
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@VenuMadhav Yes i have a trusted Account. But its still not clear how to transfer in Easiest account. There are multiple options , which iâm not that clear about. I have even raised request in CDSL for procedure but no response from them.
The âTrusted accountâ is a facility of sorts that allows you to transfer securities to pre-approved demat accounts. Please get in touch with your Depository Participant if you need any help, not with CDSL. If you have a demat account at Zerodha, raise a support ticket here: https://support.zerodha.com/
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@VenuMadhav I want to move all my shares from one of my older Demat account to Zerodha. I think i might have to raise request on first Demat account not on Zerodha
Yes, thatâs correct. You will have to get in touch with the entity where youâre holding your shares currently.
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Do I need to Group the trusted Accounts too, because thatâs additional step to adding a trusted account to CDSL which I have already done?
Zerodha needs to come up with a tutorial.
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Yes, you need to group the trusted account and your DP need to authenticate your request.
After then you will be able to see and transfer the securities from your Demat Account to Trusted Demat Account.
what is trusted account ? what is the need/use/importance of trusted account?
Trusted Accounts are those Demat accounts wherein a BO desires to transfer his/her securities through easiest.
Trusted Account Transfer permits transfer of securities from one Beneficiary Owner(BO) account to another Beneficiary Ownerâs account. BOs can transfer the securities to any four CDSL Demat accounts of his/her choice, which have been pre-notified by the BO while registering for the facility. BOs who have opted for Trusted Account option cannot set up inter depository transactions.
Transactions through the trusted account option can be set up and has to be approved by an additional Personal Identification Number (PIN), which will be emailed to the BO separately, i.e, if any BO opts for the Trusted Account option, he will receive two separate emails with two separate passwords, one for accessing his âeasiestâ log-in and second for the PIN for authorising his/her transactions.
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So, I went to Edit grouping on cdsl website and added my 2nd BO. Now, I got PDF which says:
I/We would like to group above mentioned account for the easi service. I /We am/are aware that easi service is
available to me/us which only enables me/us to view the security balances lying in the said accounts.
I/We am/are aware that in the event of the above account being marked as a secondary account to a login,
the authorized user of the login would be able to view the security balances lying in the said account.
I/We hereby agree to the terms and conditions that I/We have read earlier for availing the said service.
This says the grouping will be done for easi serviceâŚwhich only allows to view the security balances. However as far as i know, transfer facility is with easiest.
Shall I have it stamped by my old broker and speedpost to CDSL? Thanks for all your help here.
You need to take a print sign and send to your DPâs register address to approve your grouping request in MyEasi
I am transferring my share in zerodha from my account to other account of zerodha by CDSL easiest . Beneficiary has been added and been approved but when i send the shares to the beneficiary account it gets failed and just message is transaction failed . Please help me why so, is there any limitation of amount or qty of share which only can be transferred to others demat account âŚ
No limitations. I did the same a few days ago. Quantity or ISIN is irrevelant.
Do you have funds in the account you are transferring to? Per share costs are there for transfer. If no funds are present it fails.
- The charges to transfer shares in an off-market transaction are 0.03% of the transfer value or âš25 per ISIN, whichever is higher, + 18% GST. Clients must maintain the required balance for the charges to be debited.
Calculate the costs and add to the zerodha account you are transferring from. Donât forget to include 18% GST in your calculation. After that initiate again.
Maybe double check account numbers if this is not the reason?
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Thankyou so much , I got your point just need one more clarification suppose I am sending share worth 10Lakh rupees how much I have to keep in account I mean what will be GST , 18% it mins 1.8L �??and the amount will be deducted from receiving account or sender account