Easiest Trusted Account

General
1

Can CDSL Easiest Trusted account be setup for BO accounts of different parties ? So can I authorize my broker to setup easiest trusted accounts between me and my spouse ? What about any third party ? What are the regulations arround who can be setup as Trusted Accounts in easiest ?

1 Like
2

A word of caution- don’t trust anyone.

1 Like
3

Hahaha . wife was an example!!

4

easiest is CDSL’s facility to transfer stocks online without the need of a DIS. You have to register for it online here: https://web.cdslindia.com/easieasiest/EasiestRegistration.aspx

Post registering, you’ve to download and send the application to your Depository Participant. You can register upto 4 accounts to transfer shares to, if you are going to use the trusted account facility. Here are the rules for trusted account registration:

  • Trusted accounts are those accounts known to you and to whom you would be transferring securities on regular basis.

  • These accounts must necessarily be settlement accounts of brokers known to you through whom you buy / sell securities on stock exchanges

  • If you want to add a non-broker account (like your spouse’s account) as one of the trusted accounts, the account should be held in CDSL only.

P.S: If your DP is Zerodha and if you wish to activated the easiest facility, we will unmap the POA and not show you the holdings for you to sell. You would only be able to buy shares through Zerodha then.

1 Like
5

Is there any charges for using easiest trusted account?

6

What is the purpose of not showing the holdings? I understand that user may accidentally try to sell and as Zerodha don’t have POA, this shouldn’t be allowed.

But this can be handled by checking a flag if POA enabled demat account or not. If POA is not enabled just show an error message.

1 Like
7

Once you are on Easiest, Easiest becomes your Holdings portfolio.

1 Like
8

Actually most of the brokers don’t like the idea of giving away the power of attorney for the retail clients. In the power of attorney form there are few demat a/c numbers. Sell of shares can easily be done by first depositing the shares to the early pay-in a/c and then placing the sell order. It is quite feasible for investor but may not be for day trader.

9

I dont see any benifit of this except for

  1. You can prevent fraud by personally transacting on demat. This is the rarest of rare so really trying to wear raincoat everyday for a few days of rain.

  2. Second, which I dont know how to use is off market transaction where you trade and settle outside the exchange. You can for example transfer shares and take payment seperately (even in cash) and if its below a certain amount you dont need to report to exchange. I think the brokers and SEBI does not like this too.

10

First: Wearing raincoat everyday for a few days of rain or wearing helmet everyday for one fatal road accident?

Second: PoA is given to broker to issue DIS by broker himself on behalf of his client. If off market transaction is possible by DIS (which I know is, for purpose like gift, donation etc.), then so is by easiest. DIS of demat a/c is analogous to cheque of bank a/c and eaisest is analogous to internet banking.

1 Like
11

So from easiest account we can not transfer back to you …so you can put it back in holding account so we can sell?
and if above is allowed will it incur any DP charges?

12

Another important benefit is that we can transfer shares to another demat account if a particular stock broker blocked our trading account and we are in a hurry to sell our holdings. Happened to me once. Now, the trading account is back to normal, but the DP refused to authenticate outside “trusted accounts” in CDSL and the DP asked me to utilize DIS method to transfer shares.