How to Transfer Shares in ICICI Direct – A Step by Step Guide

Transferring shares in ICICI Direct can seem daunting, but with the right steps, it's a relatively straightforward process. You can transfer shares in ICICI Direct to another demat account.

To initiate the transfer process, you'll need to submit a share transfer form, which can be downloaded from the ICICI Direct website or obtained from your demat account online. The form should be filled out accurately and completely.

You'll need to provide your name, PAN number, and address, as well as the name and details of the transferee. The form should also include the number and type of shares being transferred, along with the current market value.

To transfer shares in ICICI Direct, you'll need to choose a suitable method. There are two primary ways to do this: online and offline.

You can use the Debit Instruction Slip (DIS) booklet provided by your DP when transferring shares off-market. This booklet contains all the necessary information to facilitate the transfer.

It's essential to note down the names of the shares you wish to transfer, along with their unique ISIN numbers. You should also ensure that the ISIN numbers are entered correctly, as the transactions will be processed based on these numbers.

To fill out the DIS booklet, you'll need to enter the 16 characters-long Target Client ID, which is a combination of the DP ID and client ID. You'll also need to select the mode of transfer, choosing either "Off Market Transfer" or "Inter-Depository" depending on the type of transfer.

If you prefer an offline transfer method, you can choose to transfer shares from ICICI Direct to another brokerage, such as Zerodha. In this case, you'll need to fill out a Delivery Instruction Slip (DIS) booklet and submit it to your nearest ICICI Direct branch.

To transfer shares offline, you'll need to determine whether you hold a CDSL or NSDL ICICI Direct account, as this will dictate which type of DIS booklet you should use. If you have a CDSL ICICI Direct account, you should proceed with the DIS method, while an NSDL ICICI Direct account requires an Inter-depository slip.

To fill out the DIS, you'll need to provide the following information: the Depository (DP) name, Target DP ID, Target Client ID, and other security details, including the scrip name, ISIN, and quantity.

Here's a summary of the key information you'll need to fill out the DIS:

To transfer shares in ICICIdirect, you'll need to close your existing demat account and open a new one, if you're changing brokers. Closing a demat account is a straightforward process.

You can close your demat account online or through the ICICIdirect mobile app. To do so, log in to your account, go to the account settings, and select the option to close your account. This will trigger a verification process to ensure you're the account holder.

Once your account is closed, you can open a new demat account with ICICIdirect or any other broker of your choice.

Closing a Demat Account is a straightforward process that can be completed in a few simple steps. You'll need to download and print out the ICICI Direct Demat Account Closure Form and the ICICI Direct Trading Account Closure Form.

To initiate the closure, you'll need to fill out both forms carefully and include a copy of your Zerodha CMR. You can submit the completed forms to your nearest ICICI Direct office or via email to [email protected].

ICICI Direct will verify the details and transfer your shares to your Zerodha account within 7-10 days. This is a standard timeframe, so be patient and allow the necessary time for the process to complete.

Once the transfer is complete, your Demat account will be closed. It's a good idea to keep a record of the closure process, including the date and method of submission.

Opening a Demat Account is a straightforward process, but it's essential to understand the history behind it. Prior to 1996, trading in India involved exchanging physical share certificates between buyers and sellers.

The Securities and Exchange Board of India (SEBI) introduced Dematerialisation in 1996, revolutionising the broking industry. Dematerialisation is the process of converting physical securities into electronic form.

A Demat account allows for safe and quick trading, monitoring, and transferring of securities, thereby eliminating the risk of theft, forgery, and duplicacy.

To transfer shares from ICICI Direct to Zerodha offline, you'll need to download the DIS application booklet form from the ICICI Bank website.

You'll need to determine whether you hold a CDSL or NSDL ICICI Direct account, as this will dictate which transfer method you should use.

If you have a CDSL ICICI Direct account, you should proceed with the DIS method, while an NSDL ICICI Direct account requires the Inter-depository slip.

Print the form and carefully fill in the necessary details, including the Depository (DP) name, which is Zerodha Broking Ltd. or simply Zerodha.

You'll also need to provide the Target DP ID, which is the first 8 letters of your Zerodha demat account number.

Specify the Target Client ID, which is the last 8 digits of your Zerodha demat account number, and include the scrip (stock) name, ISIN, and quantity.

Return the completed DIS to your nearest ICICI Direct branch, where the team will verify the details and initiate the share transfer process.

The transfer process typically takes 5 to 7 business days.

Transferring shares in ICICI Direct can be a straightforward process, but it's essential to understand the timing involved.

The time required for the completion of the share transfer process depends on the type of transfer. You can expect the transferred shares to reflect in the target Demat account within 1-2 working days or 3-5 working days.

If you're planning to transfer shares, it's crucial to factor in this timeframe to avoid any last-minute hassles.

Here's a breakdown of the transfer timing: