Is Demat transfer using TIFD (Transfer Instruction for Delivery) safe?

POSTED BY Sunil Kumar ON July 20, 2014 10:27 pm NO COMMENTS

Dear All,

I am planning to transfer Bonds/NCD’s from ICICI to NJ Invest. Is offline transfer done using TIFD(Transfer Instruction for Delivery) safe?  Is there is a possibility of transfer happening to incorrect account because of wrong client Id or incorrect information? Or would there be some check between source and target DEMAT account?  Note, as part of transfer, we fill ONLY  http://content.icicidirect.com/mailimages/SampleTIFD.pdf which has details like DP Id, DP Name and Client ID

Kindly share more details on this.

Thanks

Sunil Kumar

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