When everything is electronic, why Zerodha insists of going to the manual route through DIS for share transfer.
In a general scenario for DIS.
Steps would be:
- Get the DIS first, which aren’t free, except the 1st 10 leaves.
- Get the Client Master Report from Zerodha and take a print out of it attached with the DIS leaflet.
- Send it over the postage (postage charges included), plus wait it to reach Zerodha which is indeed time-consuming.
- DIS have applicable charges and Suppose if you have MF’s you can lose the NAV in which you decided to make the transfer. And for stocks well the prices can get haywire until your DIS reaches and your transaction is carried out.
Charges for DIS booklet. Note - the 1st DIS booklet will be free of charge. This booklet will have 10 slips. After this, for additional booklets, you will be charged Rs 100 + GST.
Charges for Transaction or Transfer: 0.03% of turnover or Rs 25, plus 18% GST, higher of the two per ISIN for the transfer of shares.
Being the electronic medium, this would be generally faster and obviously not that time-consuming,
Benefits of Easiest:
Electronic medium to carry out instructions. Can be done online from anywhere or any part of the world.
There are charges associated however will be lesser overall if you consider and compare it over the long run and if you make many transfers.
Transfer can be done through mobile thats what i really like about it.
I have referenced many articles and its said that once registered for Easiest the broker (Zerodha) here will lose the POA. So they recommend not to go for easiest and go for the manual offline DIS method.
My query is when most things are done online, and the market is always unpredictable. Why insist customers to go through the manual and time-consuming route, isn’t the job of the broker to provide a solution to this.
I mean isn’t Zerodha a technological company, as they insist on it.
Suppose if you are even going to suppose transfer your shares from a Zerodha account to another zerodha user.
Why it has to be done via physical route only, and not the digital route?
The article mentions that Once we receive both of the above, the transfer of shares will be complete within 48 hours.
However, that will be only possible after the post in which the DIS is present will reach Zerodha. Hence, in fact, if I wished to gift or sell someone shares at a price today and sent it by post tomorrow, it might take depending on the location like 4-7 days to reach the Zerodha Office, until then its possible that the value of the stock might have already got lowered. The market is always unpredictable, isn’t it? Plus there will be charges and I cant do DIS frequently.
Is my query vauge or justified? Is there any solution to this.