How To Transfer Shares From Upstox To Zerodha (3 Methods Explained)

I have both Upstox and Zerodha Demat accounts. I primarily use the Zerodha account for investing and trading purposes. I opened the Upstox account for my first-hand experience with their service.

Recently, I transferred stocks from the Upstox account to Zerodha, and I am sharing the entire process in this article.

I have divided this article into two parts.

  • Upstox account closure cum transfer
  • Only share transfer and keep the Upstox account

Upstox doesn’t provide an online process for account closure. So, you need to follow the offline process for account closure cum transfer. However, you have both online and offline options for only transfers of shares.

In this article, I have explained the Upstox to Zerodha share transfer process, but you can use the same steps to transfer shares from the Upstox Demat account to any other broker in India.

Closure Cum Transfer From Upstox to Zerodha

You can close your Upstox account only through the offline method. You need to follow 2 two-step process to close your Upstox account along with transferring your holdings to your Zerodha account.

Step I. Get Zerodha CMR Copy 

You need to submit a Zerodha CMR copy to the Upstox team along with the Demat Account Closure Form. Client master report or CMR copy is the document provided by Indian brokers that contains all the details of your Demat account with that broker.

You can find your Zerodha CMR (Client Master Report) copy in the Console portal in the Documents section under the Account tab. 

Zerodha CMR copy

Step II. Submitting Demat Account Closure Form

You need to courier the Upstox account closure along with a Zerodha CMR copy to the Upstox head office. You can find the Demat account closure form in the “Download Forms” section at the bottom of the Upstox homepage.

upstox-account-closure form

You can also download the demat closure form from here.

Take a printout of this form, fill it out precisely, along with Zerodha CMR Copy, and mail it to the address below.

Upstox,

30th Floor, Sunshine Tower,

Senapati Bapat Marg, Dadar- W,

Mumbai – 400013

Upstox will analyze all the information, transfer your shares to the Zerodha account, and close the Demat account. The whole process will take around 7-10 days.

Ensure you fulfill the account closure requirements (discussed below) before sending the form.

Upstox Demat Account Closure Requirements

  • Clear the outstanding amount, if any. Your account can only be terminated if you do not have a negative account balance.
  • Keep no securities like stocks, mutual funds, or other holdings in your Demat account. You can either sell or transfer your holdings, if any, using any of the above-discussed methods.
  • Withdraw your funds before closing the account. 
  • Close all the F&O open positions

Share Transfer From Upstox to Zerodha Without Account Closure

You can transfer shares from Upstox to Zerodha online and offline. The online process is simpler and will take about 2 to 3 days, whereas the offline process can take up to 15 days.

#1. Online Share Transfer from Upstox to Zerodha

You can transfer shares from your Upstox account to your Zerodha account online through the CDSL portal. CDSL (depository) has launched this portal to help Demat account owners manage their securities and their holdings online.

You have to do CDSL registration to transfer the shares through the CSDL portal.

I. CDSL ‘Easiest’ registration

Step #1 – Visit the “CDSL MyEasy” portal. Click on “To Register for Easiest”. 

Easiest registration

Step #2 – Enter Upstox DP ID and Client ID. Click on “Next” and enter the OTP you’ll receive on your registered mobile number. 

You can access your Upstox Demat account number in the “Profile” section under the “Accounts” tab.

Note: The first 8 digits of the Demat account number are the DP ID, and the last 8 digits of the Demat account number are the client ID.

Step #3 – Fill in personal information like username and security question.

Step #4 – Enter Zerodha BO ID (Demat account number) in the “Trusted Details” section and click on “Submit”. Now click on Continue.

Easiest trusted broker details

The next tab is “Grouping,” which allows you to access multiple Demat accounts with different brokers from one CDSL ID.  So you don’t have to create multiple CDSL IDs to register for each Demat account.

Follow the below process to add different Demat trading accounts with this CDSL ID.

  • Click on the Add button
  • Enter the BOID of the demat account you want to attach with the CDSL ID
  • Click on ADD BOID.

(You can skip this step if you will not add multiple Demat accounts.)

Step #5 – Click on Finish and your registration process is complete.

After completing the easiest registration process, you get two emails from CDSL. 

  • First e-mail concerning registration approval
  • And another email would provide login credentials

II. Share transfer online through the CDSL portal

Step #1 – Login to the CDSL Myeasinew portal

Easi cdsl login

Step #2 – Click on the transaction menu and then click on the Setup option.

Easiest Transaction Setup

Step #3 – Click on the Bulk Setup button on the left side.

Bulk setp cdsl

Step #3 – Fill in the required details. The execution date would be the present-day date on which you are executing the share transfer. 

Select the Zerodha BO-ID from the “Counter BOID” menu.

Enter Zerodha BOID

No need to fill in other fields like counter settlement id, and market type.

Step #4 – Fill in ISIN details as shown below. If you don’t know ISIN details click on the orange button “Account ISINs” and select all the shares from there.

ISIN details

Please enter the number of shares you want to transfer in the “Quantity” field. The consideration amount is not a mandatory field, so you can skip it. 

Select “Transfer to own account” in the “Reason for Trade” option and Click OK. You’ll see the ISIN details of all the shares below. Check the details and now you can click on “Submit”. 

You’ll get a temporary transaction number.

You may like to read – list of zero brokerage trading account in India

Step 5 – Click on the “Verify” button and you’ll be able to check all your transactions. You can select the transaction entry and click on the “Commit” button in green color.

Transaction details share transfer

Enter OTP delivered to your registered mobile number and then “TPIN”.

TPIN cdsl

That’s it. Once you complete the above-shown process, Upstox will verify the transactions, and after verification, the shares will be reflected in your Zerodha dashboard within 2 working days.

#2. Offline Stock Transfer From Upstox to Zerodha

You need to fill out the Delivery Instruction Slip (DIS) and send it to Upstox via courier to transfer the Upstox account shares to the Zerodha account.

Step 1 – Get the DIS booklet from Upstox

Since Upstox does not provide a DIS booklet online, you must fill out an application form first.

Download the DIS application booklet form from here.

Print the form, fill in the required details, and courier it to Upstox’s head office address mentioned below. 

Upstox DIS application form

Upstox,

30th Floor, Sunshine Tower,

Senapati Bapat Marg, Dadar- W,

Mumbai – 400013

The Upstox team will dispatch the book within 2 to 3 days and will take a total of 5 to 7 days to receive the booklet.

Step II – Submit DIS booklet with Upstox Team

You have to fill in the DIS received from the above step. The DIS booklet should look like the snapshot below.

Upstox Instruction Slip

Here’s what you need to fill out on the instruction slip:

  • Depository (DP) Name –Target Depository Name (fill in the broker’s name where you want your shares to be transferred to). In your case, fill out Zerodha Broking Ltd. or just Zerodha.
  • Counter DP ID – Zerodha’s DP ID (first 8 letters of your Zerodha’s demat account number)
  • Counter Client ID – Your Zerodha’s client ID where you are transferring the shares (Last 8 digits of your Zerodha’s demat account number).
  • Security details – Scrip (stock) name, ISIN, and quantity.

After filing the DIS, you have to send it to Upstox’s head office, as mentioned above.

Upstox will verify your details and transfer the shares to your Zerodha demat account within 5 to 7 business days after receiving the DIS form.

FAQs

What are the Demat Account Closure Requirements?
  • Clear the dues, if any. Your account can only be terminated if you do not have a negative account balance.
  • Keep no holdings like stocks, mutual funds or other holdings in your Demat account. You can either sell or transfer your holdings if any using any of the above-discussed methods.
  • Withdraw your deposited funds before closing the account.
  • Close all the Futures and Options open positions
How To Reset CDSL Easi Login Name And Password?
  • Go to the CDSL MyEasi Reset Password link
  • Select the user type as BO.
  • Enter the required details like BO ID, CDSL Login Name, PAN or mobile number or email ID.
  • Click on Submit. That’s it, the new password will be sent to your registered email ID.
Where is BOID in Zerodha?

You can find your Zerodha BOID or demat account number in the Console portal.

Login to Console > Account > Demat

About Rajan Dhawan

Rajan has covered personal finance and investing for over 5 years. Previously, he was in the IT field for 8 years after completing his MCA but his deep interest in personal finance led him to become an investing expert. He is passionate about investing, stocks, startups, and cryptos.

4 thoughts on “How To Transfer Shares From Upstox To Zerodha (3 Methods Explained)”

  1. I registered for easiest account to transfer share from upstock to zerodha. It’s been more than a week. I have not received the email from cdsl yet. I contacted upstock help support. They are saying they do not provide options to transfer share online( through easiest).

    Reply

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