If you are looking to change your depository, then the best method for your particular transaction is an intra-depository transfer. While you can transfer shares online, offline procedures are still valid. In order to complete the transfer, you will need to obtain a DIS form from your old broker office and submit it with the required details. If you do not have a DP ID, then you can use your PIN number instead.
Using a PIN
NSDL and CDSL are two different depositories, but you can use the same login credentials to transfer shares. To transfer shares online from NSDL to CDSL, the investor should login to the Easiest account and click on the Transactions tab. Choose Bulk Set Up or Trusted account, then enter the ISINs and quantity of shares you want to transfer, and then click Commit. A verification PIN will be sent to the registered mobile number or email. Enter the PIN to complete the transfer and then click on Continue. The next step will be to enter the password or digital signature that was issued when you registered your account.
Once you have entered the correct password or PIN, you can proceed to the next step. You must enter the CDSL TPIN, not the Kite PIN, to transfer shares from NSDL to CDSL. Using a PIN is a good way to secure your online transactions. It is a secure method for transferring shares from NSDL to CDSL. You will need to provide the PIN on the other end of the transaction so that the other party cannot steal your personal details.
You can also use a CDSL website to transfer shares online. You will need a CDSL account. To use this service, you must first register with the DP. After you have registered, you will be able to make future online transfers. To transfer shares offline, you will need the Debit Instruction Slip booklet. This booklet contains information about your transfer, the recipient’s name, and client ID.
A CDSL TPIN is like your Savings account’s OTP. It is required when you want to sell shares online. The CDSL TPIN also acts as a backup route for your transactions. Since CDSL handles the transaction, it cannot be misused or compromised. It is therefore highly recommended for your Demat account. It’s also important to make sure your CDSL TPIN is safe, as it will keep the transaction secure and ensure you don’t lose any of your shares.
After you’ve created an account, you’ll be given a DP ID. This is the ID of your broker. Your client ID and DP ID must match. Then, you’ll receive an OTP on your registered mobile phone. Next, you’ll be asked to enter your preferred username and security Q&A. Finally, you’ll be asked to enter a password or PIN, which you must enter. Once you’ve completed these steps, you’re ready to transfer shares online.
The IDeAS service is available for both clients and clearing members. Clearing members can apply for an IDeAS subscription and receive a new DSC. Once you’ve obtained a new DSC, you can start using IDeAS. You can see the details of your account and access delivery instructions on your “Holding Statement”.
Using account of choice
Using account of choice to transfer shares online form NSDL to CDSL is an entirely paperless process. To use this facility, you can either sign up online or provide your personal identification number and password. You can also opt for the manual route, which involves the creation of an account on one depositories’ website and using a common or a trusted account to transfer shares online from NSDL to CDSL.
If you have an NSDL account, you can easily transfer your shares and securities to any of the four CDSL demat accounts by using the account of choice transfer service. The best part about this is that it is secure and requires only one login to complete the transfer. CDSL’s online platform is secure and you can feel safe transferring your securities to any of them. If you don’t want to risk the security of your securities, you can always opt for the password-based transfer option, which saves you from the hassle of signing up for a CDSL account.
Another option is to freeze the shares you want to transfer. This feature is available in the CDSL easiest service. You can specify the number of shares that you want to freeze. Once you have frozen your account, you will not be able to transfer securities from it. However, you can unfreeze it anytime. This option has a few advantages:
IDeAS is a password-protected website that allows clients and brokers to see their accounts online. IDeAS is available to anyone with a demat account, as well as Clearing Members who have opened an account with one of the Participants in the NSDL system. To access IDeAS, you must have a password or smart card. Once you have your IDeAS password, you can login to your account.
When using account of choice to transfer shares online from NSADL to CDSL, you can use the depository of your choice to process the transaction. After you log into your account on the Depository Participant’s website, you’ll receive an email with a password and instructions for completing the transfer. It takes just minutes to complete the process. It’s important to note that the transfer from NSDL to CDSL must take place in the person’s name.
Using account of choice to transfer shares online is a convenient way to transfer your shares from NSDL to CDSL. It’s a relatively free process, and you’ll need to return the unused DIS to your current stockbroker. The process only takes a couple of days, and the shares will be in your new Demat account within a few days. Easiest and Speed-e online transfer services are available to CSDL and NSDL users.
Using an intra-depository transfer
Using an intra-depository exchange to transfer shares from NSDL to CDDL is an easy process. First, you need to obtain the transfer instruction slip from your depository participant. Then, you must fill in the details of the recipient and the shares they want to transfer. You should then hand over the form to the DP so that it can transfer the shares. To complete this process, you must note down the ISIN number of the shares you want to transfer. The ISIN number is unique for each company and must be entered before you can complete the transfer. Moreover, you must enter the Target Client ID (TCID) of the shares you want to transfer. This is a 16-digit code that identifies the person who owns the shares.
Once you’ve obtained the DIS, you can begin the transfer process. First, you’ll need to sign it with the same signature as your existing broker. Then, you can proceed to transfer your shares to the new Demat account of your choice. If you want to avoid any delays, you can also transfer shares online through CDSL’s ‘Easiest’ facility or NSDL’s ‘Speed-e’ facility. Registering for Easiest will help you to easily transfer your shares to the new Depository.
Once you’ve established your account in the new depository, you can start transferring the shares from your old NSDL account to your new CDSL demat account. Once you’ve done that, you can go to the CDSL depository website to validate your new demat account and complete the transfer. If this is a one-time transfer, it’s recommended to go the manual route and submit the DIS to the CDSL depository. You can also get the common DIS from your DP/broker.
Once you’ve completed the transfer request, the next step is to authenticate the scanned signature you uploaded. Your scanned signature must match the signature recorded in your demat account. Also, you must maintain the secrecy of the OTP that was sent to your account. Once you’ve verified your identity, you’re ready to transfer your shares to CDSL.
Once you’ve verified your e-tokens, you can then select an account to receive the shares. NSDL’s Speed-e facility allows users to transfer securities from one demat account to another. CDSL supports both inter and intra-depository transfers. If you’re looking for an easy way to transfer shares from NSDL to CDSL, check out our free tutorial.
Using an intra-depository transfer to move shares from NSDL to CDSL is easy and can take as little as two business days. However, the process can take up to three or four hours, depending on the type of transfer. When you transfer shares between depository systems, you don’t need to pay capital gains tax on the shares. All you need to do is collect a Debit Instruction Slip from your brokerage firm.