uTrade AlgosUpon closing your Demat account, you can either sell your securities or transfer them to another Demat account with a different depository participant (DP). You will need to provide the details of the new Demat account to Share India.
Here’s a breakdown of the process:
- Sell your holdings: You must sell all your existing shares, mutual funds, or other securities in your Demat account if you are not shifting your Demat account.
- Transfer funds: Withdraw any remaining funds from your trading account to your linked bank account or submit a duly filled Delivery Instruction Slip (DIS) if the balance is to be transferred to another account.
- Provide new Demat account details: If you are shifting to another Demat account, inform us about the new Demat account where you want to transfer your securities.
- Initiate transfer: We will initiate the transfer of securities to the new Demat account.
Important points:
- Timelines: The transfer process may take some time, so plan accordingly.
- Charges: There may be charges associated with transferring securities.
- Contact us: For specific instructions and any questions, contact our support team at 1800 203 0303, or you can also write us at support@shareindia.com.