question about x-o.co.uk

newbie8

Hi

I cant get through to x-o.co.uk.

I opened an account and have one part on the form which I am not sure about. On the form it says

I wish to transfer my account in cash, in shares or both.

I have shares which I want to transfer and no cash and do not want any shares to be sold and transferred into cash. Am I reading too much into the question

Also, from reading the user guide online, when making a payment via debit card it takes 2 working days, but am I able to trade straightaway, or do I make a trade and I they give x amount of days to credit the account?

Thanks you in advance.

chris_m

newbie8 wrote: »

Also, from reading the user guide online, when making a payment via debit card it takes 2 working days, but am I able to trade straightaway, or do I make a trade and I they give x amount of days to credit the account?
Thanks you in advance.

Dunno about your first question, but it's never taken as long as 2 working days for my account to be credited - can't even remember it taking as long as one day. I guess the 2 days is the maximum they expect to take.

I haven't tried buying whilst a deposit is pending so I don't know about that bit. I've always waited until the account shows the credit first.

IanSt

I am also transferring to x-o and am slightly confused by that question. I presume if you tick 'shares' that you only transfer the shares in your account, if you tick 'cash' then you only transfer the cash in your account, and if you click 'both' then you transfer both the shares and the cash in your account.

So I assume as you only have shares then the right one to tick would be the 'shares' box.

For myself I have assumed that I want to tick the 'both' box as I have both shares and a small amount of cash in the account.

But the above are only my assumptions, does anyone know for definite.

Regards

johnk

I ticked "Both" even though I only had shares. The transfer went through no problem.

notbritishgas

I am also transferring to XO and I was a little bemused by that question but I decided I would just tick the shares box and transfer the cash from my old account into my bank before closing the account.

Another thing that is bothering me is that the only option is to transfer the complete holding, individual shares are not named.
I would ideally like my International Power shares to remain in the old account as they are no longer being traded, having been bought out, and the proceeds ar due in early July I think. I would hate them to get lost during the transfer

Freecall

notbritishgas wrote: »

individual shares are not named.
I would ideally like my International Power shares to remain in the old account as they are no longer being traded, having been bought out, and the proceeds ar due in early July I think. I would hate them to get lost during the transfer

I am in the same situation.

Perelandra

For my transfer I wrote on the form "transfer of xxxx shares only" and that seemed to work.

(and had my first limit order successfully executed with x-o today, worked very smoothly).

newbie8

I have the answer now, I rang and spoke to x-o.co.uk.

Cash-is if you have any cash remainng in the account
Shares-any shares which you have in the account.
Both- the above.

Because of the whole new pricing restructure of iii. I have requested some shares to be transferred out as certificates and to my new x-o account. The reason behind that was in case x-o decided to change their pricing strucure I would therefore need to pay £15 per share to transfer out. So any shares which were before the stockmarke crash I have asked as certificates (as I would be waiting a LONG time) and any shares which I am more than likely to sell within the next few months then they are to be transferred to x-o. I arranged this with iii and they didnt have a problem with this at all.

So notbritishgas & Freecall, I guess you could ring iii to arrange to keep the one left on your account.

notbritishgas wrote: »

Another thing that is bothering me is that the only option is to transfer the complete holding, individual shares are not named.
I would ideally like my International Power shares to remain in the old account as they are no longer being traded, having been bought out, and the proceeds ar due in early July I think. I would hate them to get lost during the transfer

newbie8

Perelandra wrote: »

For my transfer I wrote on the form "transfer of xxxx shares only" and that seemed to work.

(and had my first limit order successfully executed with x-o today, worked very smoothly).

when you transferred funds into the account did it happen straightaway or did you have to wait a few days for the money to clear?

Ifts

newbie8 wrote: »

when you transferred funds into the account did it happen straightaway or did you have to wait a few days for the money to clear?

When I transfer funds into my X-O account (using debit card), it shows up pretty much straight away.

X-O have got a handy guide online which may be of help to you -

How To Use X-O: http://www.x-o.co.uk/how_to_use.htm