When using CDSL Easiest for your share transfers, it’s essential to complete the beneficiary verification process. After adding a beneficiary (or trusted account) through BO Linking, the next step is to verify it. This verification ensures that your added account is officially linked to your Demat account, allowing you to initiate secure transactions.
Here’s a straightforward, step-by-step guide to verify a beneficiary on CDSL Easiest, so you can confidently proceed with secure share transfers.
Steps to Verify a Beneficiary in CDSL Easiest Account
Step 1: After adding a beneficiary to your CDSL Easiest account, you’ll receive a beneficiary verification link via email and SMS. Open the email or SMS message and click the link to start the verification process.
Step 2: On the verification page, enter your PAN card number and your BO ID (Demat account number). It’s important to remember that this step requires your details (not the beneficiary’s) to confirm your identity as the account holder. Once entered, click Submit to proceed.
Step 3: Select your BO ID from the list, then click on the Generate OTP button. An OTP (One-Time Password) will be sent to your registered mobile number and email ID to ensure secure access.
Step 4: Retrieve the OTP from either your SMS or email, and carefully enter it on the verification page. After entering the OTP, click on the Accept button to complete this security step.
Step 5: A final prompt will ask for your consent to confirm the beneficiary verification. Click OK to give your approval.
With this, the beneficiary verification process is complete! Now, your added CDSL Easiest beneficiary is fully linked and ready to receive shares from your Demat account. This simple verification process ensures that your transactions are not only compliant but also securely authorized.
FAQs
- What is a beneficiary in CDSL Easiest?
A beneficiary, or BO Linking, is an account you add to your CDSL Easiest profile to enable share transfers. It’s the trusted account where shares can be securely transferred from your Demat account. - Why do I need to verify a beneficiary on CDSL Easiest?
Verification is required to authorize the beneficiary account. Without verifying, the account won’t be eligible for share transfers, adding a layer of security to your Demat account transactions. - How long does the verification process take after adding a beneficiary?
Verification is typically completed instantly upon entering the correct details and OTP. Once the verification is confirmed, the beneficiary is ready to receive shares immediately. - Where do I receive the OTP for beneficiary verification?
The OTP (One-Time Password) is sent to both your registered mobile number and email. Make sure to check both, as it’s required for completing the verification. - What if I enter the wrong PAN or BO ID during verification?
It’s crucial to enter your PAN and BO ID, not the beneficiary’s. Entering incorrect information will result in a failed verification attempt, and you may need to restart the process. - Can I re-verify the beneficiary if I accidentally skip verification?
Yes, if you missed or skipped the verification, simply reinitiate the process by following the steps outlined, starting from the verification link sent via email or SMS. - Is the beneficiary verification on CDSL Easiest a one-time process?
Yes, once you verify a beneficiary, the link is active, and you don’t need to repeat the process unless you add new beneficiaries or make account changes requiring re-verification.