Damn SVS can't hold my stock, time is ticking now, who else is there?

adamt

So a few weeks ago i opened an SVS securities ISA and send a transfer form to iii

ive just received an email from SVS saying they can;t transfer and hold my stck (ETO) as its not in the FTSE 350 and just listed on the LSE

So im now panicking where to go before iii impose there quarterly charge


Could anyone please suggest where i can transfer my S&S ISA that:
- doesnt have monthly/annual charges
- can trades all LSE stocks including my current holding of ETO
- no inactivity fees, as i seldom trade
- no closure fee

thank you

westy22

X-O should tick all the boxes except for the closure fee which could be easily avoided if you don't actually 'close' your account but just empty it.

adamt

sounds good, but i dont feel too comfortable with the £60 closure fee

has anyone just emptied their account and left it open, without any problems?

does anyone use simply stockbroking for an ISA?

Lokolo

Although a last resort plan, if you are holding the stock long term, have you thought about getting paper version? Then transferring the rest?

adamt

sorry i have no idea about paper trading,
i always just assumed its when you hold a paper certificate whilst still holding an online account, i didnt see the rationale

does the paper copy confirm it is in a S&S ISA?
Are there more costs involved trading out/in with paper forms

JoeCrystal

Well, you will lose your S&S ISA benefit if you withdraw it onto paper.

There is a good reason for holding on-line account when trading in papers. When I want to sell my share certificates, I generally transfer them in for free (most brokers generally transfer them in for free) into my account and sell them using internet dealing charge.

And indeed, there are extra cost for doing in paper forms but I personally believe that it is well worth such cost. Especially I do not have to worry about some monthly charges by third party.

adamt

i cant see the logic of holding paper certificates rather than an online S&S ISA

Can someone just list the benefits and drawbacks of trading in paper certificates instead of in online S&S ISA's

thanks

JoeCrystal

There is not a single benefit in favour of trading of paper certificates compared to on-line S&S ISA. There are few benefits in holding paper certificates though.

1. Getting all the paperworks and forms (annual reports and so on) directly from the company, to your home.

2. Can attend Annual General Meetings and ask questions or/and discuss issues with the Board.

3. As Fenella pointed out, you get dividend directly either by cheque and with some companies, you can get it transferred directly into your account on the same day.

4. Can take advantage of scrip dividend which some companies offered. National Grid. Better deal compared to dividend reinvestment.

5. Some companies only offer shareholder perks to certificated holders.

Cheers

Joe

Fenella

adamt wrote: »

i cant see the logic of holding paper certificates rather than an online S&S ISA

Can someone just list the benefits and drawbacks of trading in paper certificates instead of in online S&S ISA's

thanks

I invest in shares and ISAs mainly for income. I hold both an online account (with iii) and some in certificate form. The holdings in certificate form are long term holdings.
The main advantage of holding the certificates is that these dividends are paid directly into my Bank A/c on the day they are paid.

sabretoothtigger

Paper can be transferred into any account later on. Most accounts dont charge to transfer a share inwards

Lokolo

adamt wrote: »

i cant see the logic of holding paper certificates rather than an online S&S ISA

Can someone just list the benefits and drawbacks of trading in paper certificates instead of in online S&S ISA's

thanks

Because you don't have to pay an online charge if the broker charges one.

The reason you are moving in the first place is because of cost of online service. With paper share cert you won't have to have it in an online account that charges.