ICICI demat account has an option of providing e-instructions to transfer securities from one demat account to another demat account.
Will Zerodha come up such feature so that we can avoid the hassle of physically sending the DIS Slip?
Hey Augustus, not in the immediate future. We ll keep you posted if we intend to offer something similar.
It’s better not to offer such exotic services, mirroring ICICI Securities. I believe such services can potentially be security risks for individual account holders, in case of Digital Identity Theft.
I, a Zerodha customer for many years now, would not prefer such services to be provided by Zerodha even in distant future.
Hi… in ICICI demat account you can transfer the shared only to your linked demat account with the same PAN number … it is like transferring security to an added beneficiary…
Third party transfers are not permitted … so IMO it is pretty safe…
Then what if you want transfer your shares to another person? not the same form?
That can be a physical DIS…
Zerodha does not office or collection centers in major cities, so you will have to sign and send your DIS through a courier company. There is a risk of loss of the DIS and if the same gets into wrong hands a potential fraud opportunity…
All Delivery Instructions slips have to be processed by the DP. Before processing, we ensure to call/email the customer on the registered details available with us seeking telephonic/email confirmation after which the slip is processed. So unless someone has gained unauthorized access to your phone/email, very little chance of fraud occurring unless the DP wants to commit fraud themselves.
This is really comforting … to Zerodha
please help on the below queries, I am asking this from knowledge perspective to safeguard my self from other brokers
Physical DIS- can a broker misuse this to debit holdings from demat, even if we have never asked for Physical DIS slips, what authorization generally a broker should take to issue physical DIS so that its misuse can be prevented
Whenever any demat account is closed does from our side closure form or email to broker (as per broker guidelines is enough),
a) how should we ensure that broker has actually closed it ?
b) and does broker will close trading account as well as per our request will there by any chance of any unauthorized activity in NSE F&O, BSE F&O, MCX F&O, NSE BSE Currency once the account trading and demat is told to be closed – what generally broker do in backend?
I hold few thousand shares of HEXA TRADEX which i want to give in EXIT OFFER after delisting which will be at 172 net non stt paid off market deal . what are the options :
1…asking zerodha for a DIS and submitting it duly filled to your Bangalore office (or do you have collection center in Pune /Mumbai) .
2… do you allow NSDL idea or CDSL easiest facility whereby OFF MARKET deal can be done online by registering the buyer .
To obtain the DIS Booklet, the client has to submit the signed request to his/her DP. On request, DP issues the DIS Booklet and dispatches the same to the client’s correspondence address. An email notification gets sent from the depository to the client’s registered email ID notifying issues of the DIS booklet.
Moreover, now an OTP is a mandatory step to execute any transactions. An OTP gets sent to the client’s registered email ID and mobile nos. both.
On request of closure, a broker process the same and mark the a/c closed at exchanges, depository, and at their end.
A CMR/CML copy gets sent to the client’s registered email ID within 48-72 hrs, where the client can verify the a/c status as “Closed”. Also, an email notification goes from the broker side too.
They mark a/c status as closed/inactive at all the places-NSE/BSE/MCX/CDSL/NSDL. No activity can happen once the a/c is moved to closed/inactive status.