Other than bank accounts, demat accounts are much more convenient when it comes to the transfer of assets, shares, or equities. So, if you have switched your account from Motilal Oswal to Zerodha, then know how to transfer shares from Motilal Oswal to Zerodha.
How to Transfer Shares from Motilal Oswal to Zerodha Online?
Most of the investors vacant their demat account while changing a broker or some keep their shares in their old account for years and pay an extra AMC to the respective broker.
But here is the solution. If you are not using your Motilal Oswal demat account for years then it is time to transfer all your holdings to the new account.
All you to take care and list down some of the details of the shares you want to transfer, like:
- ISIN number, which is a 12-digit code to identify securities like stocks, bonds, debts, equities, etc.
- Client’s target ID, a 16 characters code that consists of the client’s ID and the depository participant’s ID.
After gathering the above information consider the following things,:
- Select the mode of transfer, whether it is intra-depository or inter-depository. If the transfer mode is intra-depository or off-market, you must select the “off-market transfer” column. Select the ‘inter-depository’ column if the transfer mechanism is inter-depository. When making this decision, proceed with caution.
- Submit the signed and filled DIS slip to the current broker of your account.
Collect both the DIP receipt and acknowledgment from the broker
Now follow the following steps to transfer shares from Motilal Oswal to Zerodha demat account:
- Open CDSL website, and click the link labeled “Register Online.”
- The next action is to complete the form that appears with the necessary information.
- After filling out the form, choose ‘Print Form’ from the menu. The shares will be delivered to the account holder’s depository participant after printing.
- The ID of the account holder will receive a password after the DP completes the form’s verification process.
- The account holder can then start a share transfer on their own using the password to sign up on the myeasi (Electronic Access to Securities Information) platform.
It will take three to five days for Motilal Oswal to transfer the shares to Zerodha.
Conclusion
The digital process has made it easier for an investor to switch their demat accounts and transfer their holdings within a few days.
Make sure you fill all the details correctly while filling the transfer application form.
If you have any more queries regarding how to transfer shares online or other technical issues, our team will try to provide you with the most accurate information. To stay in touch, fill in your contact information below:
