How To Transfer Shares From Groww to Zerodha

If you need to transfer your shares from Groww to Zerodha, this post will walk you through all the essential steps that you need to follow in order to do it. The best part is that the entire process can be completed online, and it only takes 10 to 15 minutes if you follow our guide. In this post, I have explained the process of How To Transfer Shares From Groww to Zerodha in a step-by-step manner.

Register for CDSL Easiest

You can transfer shares from Groww to Zerodha through CDSL Easiest from the CDSLIndia website. Hence, before proceeding with the share transfer, you must register for CDSL Easiest, and the process is pretty simple.

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  • First, you must visit CDSL India Website
  • Next, you need to fill in your Demat details like the 8-digit DP ID, and 8-digit demat client ID or BO ID
  • You can find these details at Zerodha Console
  • Once you fill in the details, you can click on Continue
  • After you hit the Continue button, an OTP will be sent to your registered mobile number
  • You will need to enter the OTP on the CDSL page, enter the preferred username, answer the security question, and select the Trusted account checkbox
  • In the Trusted Details section, you will need to enter the 16-digit demat ID of the CDSL account to which you want to transfer your shares to.
  • Besides, you can group your existing CDSL demat accounts held with other brokers in the Grouping section. However, the step is optional
  • After that, you can click on Continue; with that, you get to the last step, and it will need Zerodha to authenticate it, and the BO id will be activated within 48 hours.

Transfer shares from Groww to Zerodha

Once you register for CDSL Easiest, you can go ahead with transferring your shares from Groww to Zerodha. The process is simple and easy to follow with our step-to-step guide.

  • First, you will need to log in to CDSL Easiest and select ‘Setup’ on the Transaction section
  • After that, you need to select ‘Bulk Setup’
  • Next, you need to select ‘Transaction’ and specify the execution date and the Beneficiary Owner ID(BOID) to which you want the shares to be transferred.
  • You must select NA from the drop-down in the Entity Identifier
  • Next up, you must select the ISIN. As you click on the Account ISINs, you should see a list of all the ISINs in your holdings
  • You can select the ISIN and enter the quantity and select the reason for trade from the given list
  • After that, you can click on the Submit button to continue.
  • Next, you will need to enter the OTP (received on your registered mobile no.) in the Enter PIN field on the page
  • After that, the transaction request will be completed from our end. However, it will need to be authenticated from Zerodha’s end.
  • Once the authentication process is completed, you should see your external holdings in your Zerodha account.

Read our full review of Zerodha

Conclusion

I am sure you are pretty convinced that transferring shares from one broker to another isn’t complicated after reading this post. With online stock brokers, you have a tremendous advantage in all aspects. Transferring shares from one stock broker to another hardly takes much time. It can be an essential part of learning for every investor, and the sooner you learn it, the better it is.

I have explained all the steps involved in the process in a precise manner, and you should be able to do it flawlessly by following our step-by-step guide. However, while you have to wait for authentication completion, you must check your inbox since CDSL will update you through emails.

FAQs

How do I transfer my shares from Groww to Zerodha?

You can transfer your shares from Groww to Zerodha through Off-market transfer, and the process is entirely online. You need to fill in and submit the online form on the CDSL website and wait for Zerodha to authenticate the transfer.

How long does it take to transfer shares from Groww to Zerodha?

Even though the process of filling out the online form and its submission takes hardly 15 minutes, CDSL Easiest registration may take up to 48 hours. Besides, you may have to wait some time after completing the transaction from your end for Zerodha to authenticate it.

Can I transfer mutual funds from Groww to Zerodha?

Yes, it is possible to transfer mutual funds from your Groww account to Zerodha's demat account. Both accounts should be operational and compliant to facilitate a smooth transfer.

Is trading involved in the share transfer process?

While the term “trading” is involved due to the nature of the platforms, the share transfer process itself doesn't involve trading in the traditional sense. It centers around moving shares from one demat account (Groww) to another (Zerodha).

Is a depository participant required for the transfer process?

Yes, a depository participant (DP) is a critical link in the share transfer process. Zerodha, as a DP, acts as an intermediary, ensuring the secure and compliant movement of shares between demat accounts.

What are the various charges of a Groww demat account?

Groww doesn't charge any account opening fee. Besides, the discount broker doesn't charge any demat amc.
When it comes to brokerage charges, the stock broker charges ₹20 or 0.05% per executed order, whichever is lower on Equity, and ₹20 on Futures & Options.

What products does Groww offer?

Groww allows you to trade and invest in shares, F&O, direct mutual funds, IPO, digital gold, SGB, FD, and US Stocks. Further, you can also trade in Commodity segment once you have a Groww trading account.

Is Groww a good trading platform?

Groww is a reliable trading platform, and has excellent trading applications across the web and mobile devices. The discount broker allows you to trade and invest in various financial instruments in the Indian stock exchange. It's also worth mentioning that Groww has zero account opening charges and AMC.

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