Suppose If I have a DEMAT Ac with ' X Securities ' and Trading Account with ' Z '
And when I make a Debit transaction, i.e Sell some shares from my demat ac through Z Trading Ac, how this transaction is made by Z ? through --- SPEED-e/Easiest (or) X Securities (or) Manual
**I'm asking this because debit transaction charges are different for the above 3 modes..
Since you have demat with X and trading with Z, before you sell through Z, you will have to manually transfer shares from X to Z. When I say manually, it is either through Speed-e or through DIS slips.
To transfer these shares, X will charge you for debit transaction (it might be different based on speed-e or DIS). Once you have transferred to Z and then sell it through Z, Z will also charge you for debit transactions. So yes, you will end up paying DP charges twice.
But when you transfer to Z, if Z doesn’t transfer it to your demat account with Z and allows you to directly sell from the pool account, you will not need to pay DP charges once again with Z. But understand that this process is being uncompliant to exchange rules.
I’ve trading ac with zerodha & demat with ilfs…so if I want to sell any shares, should I transfer them to zerodha using speed-e or can I directly sell them by placing a sell order in ZT ?
We have a tie up with ILFS, so you have to just sell on ZT and shares will automatically get debited from your ILFS account, provided that you had opened this ILFS account through us. If you had opened the ILFS account on your own or through some other brokerage, you will have to get this mapped to us for which you can email [email protected]