Just came to know that you are charging INR 500 bucks to get Physical CMR Copy !!!
Can you please justfy such high cost for CMR ?
Even Zerodha charges 0 on first CMR copy and just INR 20 on subsequent request and on the other hand, you are charging 500 bucks ???
Really unbelieveable !!!
Hi @Saurabh
CMR copy is now practically used for all purposes digitally, I haven’t seen personally a use-case where there is a need for a physical copy, happy to be corrected here if there is a use-case for it.
We are a digital first and building as a digital only platform. We have no intention of robbing users (and I feel sad this is perceived like that). Honestly anything that requires us to do processes that are not digital - takes up significant bandwidth and most likely will be done via a partner will include logistics for pick up and delivery.
Hope this clarifies. Thank you
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Hi Praveen,
Thanks for replying and here are my responses:
- There are brokers who asks for physical copies of CMR while transferring the shares. This is the use case.
- Like you, there are many others who are digital only platform. However, for arranging such a basic document, no one is charging such exorbitant amount. As mentioned earlier, Zerodha is also a digital only platform and they are not even charging for the first copy. From second copy, they are charging 20+ (100 shipping).
Considering that, its reasonable to assume that you are robbing the users who asks for physical CMR copy !
Further, these charges are not disclosed on your website.
Hi @Saurabh, thanks for this and appreciate your response.
For transferring of shares, digital CMR is all that is needed or even not actually. Some of old stock brokers or few may ask you to get a CMR, its just as a way to discourage you from transferring shares from them to others. It is absolutely not required, and even if someone insists - at best a print of CMR PDF will also do.
That aside, you can also transfer shares from one broker to other, without CMR and all by yourself directly via CDSL Easiest process. There is no need to go to a broker physically or provide copies, we have a detailed post about this here - Move shares to Dhan: Upgrade your Investing Experience
As there is no need of physical CMR, hence it is not a service that we provide and so no mention on Dhan website. We will provide CMR only on exceptional circumstances. Hope this information is helpful, we have many users who have transferred shares to us, without a CMR all by themselves.
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