Share Transfer Process Most investors are confused about the process of share transfer. If you have to gift shares to someone or close the demat account. In such a situation, transfer of shares becomes an extremely important step. Today we will know what is the correct process of transferring shares? These include both manual (Manual Share Transfer) and online (Online Share Transfer).
If you want to transfer shares to someone or close your Demat account, then share transfer is an important process for all these. Many people are often confused about the process of share transfer.
Giving or taking shares from one Demat account to another Demat account is called share transfer. Share transfer can be done in two ways. These include manual (Manual Share Transfer) and online (Online Share Transfer). To adopt both these methods, you have to read the steps given below carefully.
How to transfer shares manually
To transfer shares manually, you must have a DIS (Delivery Instruction Slip). If you want to transfer your shares to another Demat account manually, then follow the steps given below carefully.
Step 1- First of all you have to fill the DIS form.
Step 2- In this form you may be asked for details like target client ID, ISIN, DP name etc.
Step 3- After which sign the form and submit it to the broker.
Step 4- Then your broker will forward this transfer request to the depository.
Step 5- After which, within a few days, the shares will be shown in the account in which the transfer has been done.
Before knowing about online transfer, let us know about the terms related to DIS.
Target Client ID- This is a kind of 16 digit number, which is given by the broker.
Name of DP- Meaning of DP is the name of the stock broker or depository.
ISIN- Every investor is given a 12 digit unique identifier for security, which is called ISIN.
How to transfer shares online
If you want to transfer shares as soon as possible. Along with this, if you want to adopt a convenient method, then online transfer is the best way. If you want to transfer shares through online transfer, then you can follow the steps given below.
Step 1- First of all you have to choose the Exit option, after that register on NSDL or CDSL platform.
Step 2- Then register here by filling the details.
Step 3- After which login credentials will come in your email.
Step 4- Then by logging in, you can easily transfer shares.