I opened the Zerodha demat account recently, I have shares in my ICICI demat account. How can I transfer my shares from ICICI to Zerodha?
Demat accounts are very similar to your bank accounts.
When you opened ICICI demat, they would have sent you a book called DIS (delivery instruction slips). This is very similar to you cheque book for ICICI demat.
On this DIS slip from ICICI, mention the stocks and quantity you want to transfer. Similar to how you mention the amount on a cheque leaf.
Also on the DIS slip, you will need to mention where the stocks are being transferred to.
For this, you will need to mention details from the client master that you would have received when opening an account
- DP Name (In this case Zerodha Securities Pvt Ltd (not just Zerodha))
- DP ID ( For Zerodha securities pvt ltd, it is 12081600)
- Client ID also called Beneficiery ID ( this is your unique 8 digit number, your client ID will be mentioned on client master).
After filling all these details, submit the DIS slip to ICICI. They should ideally transfer all shares to the new demat within 24 hours.
Any charges for this process by ICICI or by Zerodha?
Zerodha will not charge you anything for the transfer, ICICI will. These charges will be as per what was agreed upon at the time of the demat account opening with them. You can speak to them to know the exact cost.
However, if you’re initiating a ‘closure-cum-transfer’ there are no charges on transfer of securities from ICICI to Zerodha.