How to transfer shares from other brokers to Firstock?
If your existing demat account is with CDSL, you can transfer shares online using the CDSL Easiest platform.
Step-by-Step Process:
- Register for CDSL Easiest:
- Visit CDSL Easiest Registration.
- Enter your 8-digit DP ID and 8-digit Client ID (BO ID).
- Verify using the OTP sent to your registered mobile number.
- Add Firstock as a Trusted Account:
- Log in to CDSL Easiest.
- Navigate to Transaction > BO Linking > BO Linking Setup.
- Enter Firstock's 16-digit BO ID and your PAN.
- Submit and verify the beneficiary addition via the link sent to your email.MarketFeed
- Initiate Share Transfer:
- After beneficiary approval (may take up to 24 hours), log in to CDSL Easiest.
- Go to Transaction > Setup > Bulk Setup.
- Enter the execution date and Firstock's BO ID.
- Select the ISINs, enter quantities, and choose the reason for the transfer.
- Submit, verify, and commit the transaction.
- Authenticate using the OTP and your 8-digit alphanumeric CDSL Easiest PIN.
Note: Ensure you have your CDSL Easiest PIN, which is different from the CDSL TPIN. If you haven't received it, you can reset it on the CDSL Easiest portal.
Offline Transfer via Delivery Instruction Slip (DIS)
If your existing demat account is with NSDL or you prefer an offline method, you can use the DIS process.
Steps:
- Obtain DIS Booklet:
- Request a DIS booklet from your current broker.
- Fill in the required details, including Firstock's DP ID and Client ID.
- Submit DIS:
- Submit the completed DIS to your current broker.
- They will process the transfer to your Firstock demat account.
Note: Ensure that the names on both demat accounts match to avoid any discrepancies.
Shares held under a pledged holding must be unpledged before initiating the share transfer.
- Transfer Charges: Off-market transfers may incur charges. Check with your current broker for applicable fees.
- Stamp Duty: If the transfer involves consideration (i.e., not a gift or self-transfer), stamp duty at 0.015% of the transfer value may apply.
- Execution Time: Transfers submitted before 6 PM on trading days are typically processed the same day.
- Locked-in Securities: Shares under lock-in cannot be transferred using these methods.
