Are you planning to close Demat account in HDFC Securities after you open demat account with Zerodha? Are you looking for how to transfer shares from HDFC Securities to Zerodha? There are more than a couple of ways to do this.
Condition 1: You wish to retain your HDFC Securities Demat account
First, you need to check what Depository is your account associated with. Here’s what you need to do next:
- First, fill out the DIS slip issued by HDFC Securities. You need to fill in the details such as the name of the shares you wish to transfer, ISIN number, 16 digits demat account number of HDFC Securities account as well as the Zerodha account.
- If your existing HDFC Securities account is NSDL then select “inter-depository transfer” in the DIS form, else select the “intra-depository transfer”.
- After completion, you need to submit this DIS to HDFC Securities and pay the applicable charges.
Condition 2: You wish to close your HDFC Securities Demat account
When you want to close and transfer shares, you need to submit the Client Master Report(CMR) in addition to DIS. This CMR will contain all the essential Zerodha Demat account details such as DP ID, client ID, PAN number, Bank details, etc.
If you don’t have the CMR, you can request it from your broker, in this case, Zerodha and then you can do the same process online. Alternately you can also download a copy of your CMR using the Zerodha console online.
You can also transfer shares from one account to another through online portals. If you have an NSDL demat account, you can use speed-e and in the case of a CDSL demat account, you can use EASIEST. All you have to do is to register on these platforms and complete the process as directed.
Remember the above process only when the transfer is between the same account holder or holders in the case of the joint account. Also, you cannot transfer from one type of Demat account to another type i.e. an individual account can transfer shares to another individual account, but not to a Joint, NRI, or HUF account.
So, that’s how to transfer shares from HDFC Securities to Zerodha. Hope we have helped you satisfactorily. For any further help, kindly contact us by filling up a form with your problem statement.
