1. Client shall login to NSDL SPEED-e Portal using password or e-token based option and click on TAB of ‘Add Beneficiary’ under inquiries and Submit request for Addition of target Beneficiary demat account.
2. Validations done at the time of addition of target beneficiary demat account are as follows:
a. Intra- Depository (NSDL to NSDL):
I. In case of addition of target Beneficiary demat account maintained in NSDL depository system, Client needs to provide details of target beneficiary demat account viz., PAN, DP ID & Client ID.
II. After clicking on validate button, Details of transferee client viz., PAN and DP ID & Client ID will be validated with the details available in demat account of respective target Beneficiary demat account. After successful validation of details of transferee client’s PAN and DP ID & Client ID, the name of transferee client in respect of target Beneficiary demat account will be displayed to client on SPEED-e website. In case of mismatch in validation, SPEED-e system shall display appropriate error.
III. After clicking on Add button OTP shall be generated and sent on Mobile number and email ID as registered in demat account of transferor client for authentication.
IV. After successful OTP authentication, target Beneficiary demat account shall be added to the list of beneficiaries.
b. Inter-Depository (NSDL to CDSL):
I. In case of addition of target Beneficiary demat account maintained in other depository system, Client needs to provide details of target beneficiary demat account viz., PAN, DP ID & Client ID.
II. Details of the transferee client viz., PAN, DP ID & Client ID will not be validated with the details available in demat account of respective target Beneficiary demat account in target depository at the time of addition of target Beneficiary demat account in NSDL depository system. The aforesaid validation will be done by target depository at the time of processing the inter depository off-market transfer instruction received from source depository.
III. After clicking on Add button OTP shall be generated and sent on Mobile number and email ID as registered in demat account of transferor client for authentication.
IV. In case of addition of target Beneficiary demat account maintained in other depository system, validate option shall not be available.
V. After successful OTP authentication, target Beneficiary demat account shall be added to the list of beneficiaries.