How do I migrate my US Brokerage account from INDMoney- DriveWealth/Stockal to Vested?

How do I migrate my US Brokerage account from INDMoney- DriveWealth/Stockal to Vested?

You can transfer securities from one DriveWealth to another DriveWealth account only if you're the primary account holder for both these accounts. Please note that third-party transfers are not allowed on our platform. 

If you already have an account via one of the platforms that also work with DriveWealth, you should follow the below:

Process 

  • Open a Vested account with a quick and digital process.

  • Fill out the Internal transfer form.

  • Email the filled form to help@vestedfinance.co along with the latest account statement.

  • The transfer process usually takes 3-5 business days for the transfer to get completed.

  • Fractional shares can be transferred.

Charges 

  • Since this is a partner-to-partner transfer, DriveWealth does not charge any fees for this transfer.

General points to note

  • Transferring stocks incurs no capital gains tax, as it's a dealer transfer, not a sale.

  • Maintain your transaction records with the earlier platform for tax filing purposes.