How to Register for CDSL Easiest Using Demat Account | Espresso

How to Register for CDSL Easiest Account: A Detailed Guide

Many investors and traders have multiple demat accounts, thanks to the amazing benefits and host of discounts offered by stockbrokers.

Published on 09 June 2022

However, this means that the shareholding has been divided into different apps, which have robbed them of the chance to view everything on an integrated platform and keep a check on their earnings through investment. But, this can be easily solved if you transfer your shares from one demat account to another online.

For this, investors will have to undertake CDSL Easiest registration. CDSL Easiest has been launched by the Central Depository Services Limited, which helps you access your demat account details easily from anywhere by making use of the CDSL website. Once you complete the CDSL Easiest registration process, you are given a login id and a password which you can use at the time of logging in.

Let us get into the details of what is CDSL Easiest and how to register for CDSL Easiest.

What is CDSL Easiest?

The full form of EASIEST is Electronic Access to Securities Information and Execution of Secured Transaction. Each time you initiate a buy or sell transaction for your shares, there are a number of intermediaries that the transaction has to go through. The first one is your DP(Depository Participant), who is also your broker, and also to the stock exchange like BSE or NSE.

Since the beginning of online trading with the help of Demat accounts, central depositories have also become a part of the process. The centralised depository keeps track of the ownership of the shares in a dematerialised setting. In India, the two main centralised depositories are NSDL and CDSL. Although a sell or buy transaction might be visible to you on your screen, the process of clearing takes about T+2 days. T refers to the day on which you initiated the transaction.

After you initiate the transaction, the following steps take place:

  • First, the transfer of shares takes place to the account of your DP.
  • Then, the clearance of funds happens from your bank account.
  • Finally, the transfer of shares to your Demat account takes place.

Sometimes, it happens that the transfer of shares to your Demat account does not take place, and the shares are kept in the pool of your DP. This means that although you have already paid for these shares, these are still not owned by you. This is where the CDSL Easiest can come to your rescue. It will help you keep a check on your Demat account details to ascertain if the trades that have been executed by you are showcasing your ownership or not. Also, with the CDSL Easiest, you can transfer your shares from one Demat account to another easily.

How to Register For CDSL Easiest?

Before you initiate the CDSL Easiest registration process, it is important that you keep a few things ready; these include:

  • Your 8-digit DP ID or the CM ID, whichever is the ID of your stockbroker. The full form of CM is a Clearing Member.
  • The 8-digit BO ID. BO refers to the Beneficial Owner.

Once you have all these ready, you can now initiate the CDSL Easiest registration process:

1. Visit the CDSL website () and then go to the register online option available on the website.

2. There you will get a list with all the options. You will choose Easiest from this list.

3. First, you will have to type in your DP ID and then your BO ID.

4. After this, you will also have to put in your mobile number and your email id.

5. Then, you will get an OTP(One Time Password) on your number.

6. Now, put in the OTP that you have received to verify your phone number.

7. After you have entered your account details, you will have to choose account type from the following options: 

  • Account of choice transfer: This is the option that helps you transfer your securities from one account to another. You will require a digital signature for verification in this case.
  • Trusted account transfers: In this option, you can transfer your securities to any of the four Demat accounts that are registered with CDSL and those you trust.From there, you can choose the one that is applicable to your situation. Although, the recommended option would be trusted account transfers.

8. If your selection is trusted account transfers, then you have to put in the Beneficial Owner(BO) numbers of those accounts into which you want to transfer your securities.

9. The next choice that you get is Grouping. If you have accounts that have been registered with CDSL with other brokers, you can add them here. Otherwise, you can skip this option.

10. After you tap on Submit, the CDSL Easiest registration is done.

Once you have completed the whole process, the activation takes place between 24 to 48 hours.

Conclusion

Thus, CDSL Easiest registration is a simple and quick process that you can do online from anywhere. It will help you track your securities and also help you transfer them from one Demat account to another. Understand the process, have all the details handy, and the registration should be a cakewalk for you.

 

Chandresh Khona
Team Espresso

We care that you succeed

Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.