I wish to transfer 100 shares from Finvasia to Upstox using Easiest. I have a couple of questions
a) What will be the charges, if any, that Upstox will levy for the transfer
b) I already have 140 shares of the same company in my Upstox demat account. How can I ensure that the average price will be correct after the transfer?
Hi! Weāre glad to know that you want to transfer shares to Upstox:) The process is pretty straightforward and can be done online via CDSLās Easiest facility:
Register for CDSLās āEasiestā facility (Check with your broker if they provide this)
Add 'account details (You can add up to 4 trusted accounts. Activation of trusted accounts may take up to 24 working hours)
Once the trusted account is set up, go to āSetupā under the transaction section
Select āBulk Setupā
Click on the āTransactionā tab
Enter the following details and submit them
Execution date
Recipient BO ID
ISIN
Quantity
Reason for transfer
Click on āVerifyā and then āCommitā
Enter your CDSL Easiest PIN and click on āOKā (8-digit PIN received at the time of CDSL Easiest registration)
Once the DP confirms the request, the shares get transferred
Note:
To use this facility, both the Demat accounts should be with CDSL
We will not charge you anything to move your shares to Upstox
Currently, the average price calculation for imported/transferred stocks is a manual process, we are working on improving this in the next 2 months and we will update you once it is live.
Hi.
The average price calculation for imported/transferred stocks is a manual process means?
Is there an option to update the average price manually for the transferred shares to Upstox?
If yes, how is it done
I have been facing the same issue in Upstox
@Ishaque
The link you have quoted has explanations for buy and sell. Is āTransferā counted as a āBuyā? And will the LTP on the date of the transfer be taken as the buy price?
Another competing brokerage has an option (I think, I have not used because not a customer there) wherein: you can inform the backend team of the brokerage, via a ticket, of the actual average price at which the transferred shares were bought and they will update that price manually. Does Upstox have such an option?
We are currently working on a feature that will allow our users to update the buy price for transferred stocks within the app. It will go live soon. We will keep you posted. Thanks.
We are pleased to inform you that the manual average price updating for transferred shares is now live for all transfers done since January 1, 2024.
To update the average price, please follow the below steps:
Log into your Upstox account.
Navigate to āAccountsā >>> āProfileā >>> āMy Accounts.ā
Click on āReportsā >>> āHoldings Report.ā
Select āReportsā >>> āHoldingsā >>> āDiscrepancies.ā (currently, this will be visible only if you have stocks transferred post 1st Jan 2024)
Choose the stock to update.
Click āUpdateā and fill in details (purchase date, transferred quantity, average price, and type).
Hit āSave.ā
For transfers done before 1st Jan 2024, weāre actively working on it and will have it available soon. Thanks a lot for your patience!
Hi Ishaque, iāve transferred certain shares to one of the accounts in Upstox and the buy price for any of these scrips is not visible. I followed the path that youāve suggested, but under Reports >> Holdings, I donāt see an option - Discrepancies. The transfer date was 17th Janā24. Could you suggest.
Welcome to the Upstox community! Could you please share your ticket id with us or raise a ticket here: https://uptx.to/tikt, and share the ticket number with us? This will facilitate further investigation and help us address your query effectively. Thank you.
Certainly! Weād be happy to assist you. Could you please provide more details about your specific concern? This will help us better understand and offer the most accurate assistance.