Dematerialization is a process through which physical securities such as share certificates and other documents are converted into electronic format and held in a Demat Account.

What is the process of Dematerialization in Samco?

Below is the step by step process to convert physical shares certificate into demat form:

1. Visit our website i.e. samco.in.
2. Under the Utilities menu, navigate to the Downloads tab.
3. Find the Forms for Demat Account menu.
4. Download the Dematerialization Request Form (DRF form).
5. Fill the details like demat account number, physical shares details, etc.
6. Sign the DRF (Dematerialization Request form) in the Signature with DP and Signature with RTA/Issuer fields, and also mention the Client ID (If It is a joint account, then both the holders need to sign).
7. Submit the original share certificates along with the DRFs (Keep a photocopy of the same with you) and a self-attested copy of your PAN.

Courier the above documents to the following address
SAMCO Securities Limited
1004 – A, 10th Floor, Naman Midtown – A Wing,
Senapati Bapat Marg, Elphinstone Road,
Mumbai – 400 013, Maharashtra, India.

What are the charges for dematerialization?

You will be charged Rs 10 per certificate plus Rs 50 per request towards postal charges. Refer to the link for more information on charges. Charge List Demat
Important note:

1. The name on the share certificate should match the name on the Demat account. In the case of name mismatch, submit a gazette letter or an affidavit on Govt. Stamp paper stating that name on the share certificate and name in the demat account are of the same individual. If you have shares of more than 1 company then you need to give us the notarized copies of the affidavit/gazette for all the companies.
2. If the share certificates are held by a single holder, it can’t be dematerialized into a joint demat account. If the share certificates are jointly held, the shares have to be dematerialized into a joint demat account with the same names as on the share certificate.

Disadvantages of Using Physical Share Certificate for Trading of Shares:

Some of the disadvantages of trading or holding shares using physical share certificates are listed below:

1. Need to be locked and stored safely as physical share certificates are exposed to the risk of theft and loss. Share certificates can also suffer from wear and tear damages etc.
2. Transactions using physical share certificate are time-consuming and tedious involving multiple steps which need to be undertaken, whereas transaction of shares in Dematerialised form can be completed in a matter of seconds.
3. Any transaction involving a physical share certificate attracts stamp duty payments whereas share transactions using dematerialized shares do not attract any stamp duty payment/liability/expenses.

The post How Do I Convert Physical Shares Certificate into Demat Form? first appeared on Support | Samco.

At the top of the slip you need to enter DP id and client of the current broker, At middle of the slip in the highlighted area there are two options for INTRA Depository Transfer and INTER Depository transfer . mention the Client Id and Target Client Id (Client ID of the DEMAT account you want to transfer the shares in)
Fill in details appropriately and submit the DIS to your current broker, make sure you collect an acknowledge of the same.
All in all here is  the process of transferring shares from your DEMAT account

1. Fill up the DIS slip.
2. Ensure all the fields are correct, especially the Target client ID.
3. Submit the duly filled DIS to your Current Broker.
4. Make sure you receive the acknowledgement from the current Broker

How many days will it take for the shares to transfer?

•  The shares will be transferred on the next business day

Is there a cost for transferring the shares ?

• Cost depends from broker to  broker, However it is very nominal/

Transfer of shares in case of closure of one DEMAT account

• Incase you are shutting one of your DEMAT account and transferring shares from that account to another account, the Transferring of shares is “free of cost” .Your existing broker should not charge you anything for transfer in case of account closure.

What is the process of transferring shares from one person to another ?

• In this case the process remains the same.

Important things to keep in mind before transferring shares between DEMAT accounts

• Ensure that your existing client ID is Printed or Stamped on the DIS and not hand written
• Ensure you have mentioned all the details correctly, Specially the Target Client ID
• Once the Entries are made, Strike out the other columns to avoid misuse
• If your DIS Booklet is stolen or ost, Inform your broker and ask him to stop those DIS
• When you close the DEMAT account , you need to return the DIS

Watch this video to how transfer funds with Samco account

The post How to transfer shares from your DEMAT account? first appeared on Support | Samco.