Lost Share Certificate

funnymummy

Hi, I recently sold some Tesco shares using Lloyds Tsb. I was not selling all of them so they were meant to send me a balance certificate. However, this never arrived in the post. I rang them last week and they have sent me some forms to get a replacement one.

However..... they are going to charge me £30 admin fee and also £30 for a countersignature, this has to be bank manager type person so can not get myself. Over £60 in all. Does anyone know if there is any way I can avoid this charge? I wish now I had sold the whole lot, as I only kept some back in the vein hope that the share price might increase by a few pence!!!

Thanks in advance Catherine

jonesMUFCforever

Unfortunately the charges will apply as terms and conditions will always stipulate posted at own risk or something similar.
It will be cheaper for you to get LTSB to countersign using their insurance company than your own bank who will probably add another £30 to £40 to cost.
You could defer signing until such time as you actually need the certificate, as even though the certificate is missing you still own the shares and will continue to receive dividends on them.
You may also wish to consider the stockbrokers a strong letter of complaint saying that you thought it was their responsibility (it's not!) to send you a balance certificate to see if they shift somewhat on the charges.