Certificated shares.......again!!

melburymelbury Forumite
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I am still trying to find a reasonably priced way of buying shares in certificated form, but most of the banks seem to be incredibly expensive.

Just found this and, if I am reading it correctly, they charge £19.50 for certificated share purchases.

Have any of you heard of this company and/or dealt with them?

Seems considerably cheaper than anything else I can find.

Any feedback gratefully received.

http://www.sharedealactive.co.uk/more_information.html#3

Just out of interest, if you buy shares and they are held in a nominee account, presumably you have to pay a fee for that
service?
Stopped smoking 27/12/2007, but could start again at any time :eek:

Replies

  • IftsIfts Forumite
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    melbury wrote: »
    Just out of interest, if you buy shares and they are held in a nominee account, presumably you have to pay a fee for that service?


    I have a nominee share dealing account with http://www.x-o.co.uk/ (£5.95 flat per trade) - there is no account opening fees, management charges or inactivity fees, you can trade in any quoted UK equity (but not foreign stocks or unit trusts).
    Never let the perfume of the premium overpower the odour of the risk
  • JoeCrystalJoeCrystal Forumite
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    In my case, I got SVS Securities. I buy shares at £5.95 per trade and withdraw them by email for £15. The trading accounts are free. You are going to have to accept the fact you need to set up nominee share dealing account and withdraw them. I generally buy and withdraw them onto certificates. No problem at all.

    Thanks,
    Joe
  • melburymelbury Forumite
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    Ifts wrote: »
    I have a nominee share dealing account with http://www.x-o.co.uk/ (£5.95 flat per trade) - there is no account opening fees, management charges or inactivity fees, you can trade in any quoted UK equity (but not foreign stocks or unit trusts).

    Thanks for the information.

    I just can't get my head around this though being a dinosaur:o
    Where are the shares that you have bought actually kept? I always feel that once I have received the share certificate, then I own those shares. So how does it work with no certificate? What if the company you bought them through went bust or disappeared? Do you have some proof of ownership?
    Stopped smoking 27/12/2007, but could start again at any time :eek:

  • melburymelbury Forumite
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    JoeCrystal wrote: »
    In my case, I got SVS Securities. I buy shares at £5.95 per trade and withdraw them by email for £15. The trading accounts are free. You are going to have to accept the fact you need to set up nominee share dealing account and withdraw them. I generally buy and withdraw them onto certificates. No problem at all.

    Thanks,
    Joe

    Thanks for the information Joe. I looked at SVS Securities when you recommended them before, but I couldn't find any cheap way of buying with a certificate, in fact it was very expensive!

    So how does it work when you say you withdraw them by email for £15? Does that act in the same way as a share certificate and mean that SVS Securities have nothing further to do with those shares?

    Sorry to sound so dim about all of this, I don't buy shares very often and when I do I like to have the bit of paper, but that seems to be a very outdated thing now:(
    Stopped smoking 27/12/2007, but could start again at any time :eek:

  • gadgetmindgadgetmind Forumite
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    melbury wrote: »
    What if the company you bought them through went bust or disappeared? Do you have some proof of ownership?

    It's pretty much like having money in a building society rather than under the mattress. Yes, you need to trust the system, but nominees work hard to ensure that your shares are safe.

    For example -

    http://www.hl.co.uk/investment-services/vantage-service/how-safe-is-your-investment

    Of course, they can all impose fees at any time, so you might prefer certificates for this reason. Personally, I like the convenience of holding online, handling corporate actions via email, and having dividends dropping straight into the bank, but I'm sure it's not for everyone.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • I hold both certificated shares and in a nominee account. I used to use Lloyds to buy certificated shares as I have accounts with them and their service was competitive in terms of costs.

    Unfortunately Lloyds recently withdrew this service. When I did a brief look around the Internet for a replacement service N&P came out the cheapest so I ordered an application pack. I havnt wanted to make a certificated share purchase since then. However I've just pulled out their pack and they have a sliding scale of charges starting from £18.50 for a certificated share purchase, so perhaps look up N&P?
  • edited 29 September 2013 at 7:11PM
    JoeCrystalJoeCrystal Forumite
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    edited 29 September 2013 at 7:11PM
    melbury wrote: »
    Thanks for the information Joe. I looked at SVS Securities when you recommended them before, but I couldn't find any cheap way of buying with a certificate, in fact it was very expensive!

    So how does it work when you say you withdraw them by email for £15? Does that act in the same way as a share certificate and mean that SVS Securities have nothing further to do with those shares?

    Sorry to sound so dim about all of this, I don't buy shares very often and when I do I like to have the bit of paper, but that seems to be a very outdated thing now:(

    You buy them online through their trading account and hold them in the nominee account. However, all brokers offer the choice of withdrawing them onto certificates from the trading account. By a stroke of luck, you can send an email to SVS quoting your account number, what company and amount of shares, saying that you are aware of £15 fee. The important thing is to ensure that you transfer the money into the trading account beforehand.

    Buying the share certificates directly IS very expensive. This way, it is cheaper and but not necessarily more convenient. You can do the same thing, you can also send in your share certificates to the broker and these became online number which you then can sell. Which is also cheaper.

    You do not buy share certificates directly, you are buying them with online broker, holding them electronically and you then take them out onto paper. :) Not sure what is good metaphor would be but the best I can describe is that you can buy an Ebook owned by shop online, you can see that you got the copy but what if you want physical evidence of the book itself, you pay a fee and that ebook then became a proper legal copy which belong to you directly.

    EDIT: Actually, I looked up the N&P and found its full charge. It is £18.50 for up to £500, £25 for £501-£2000, £35 for £2001 to £4000, £45 for £4001 to £6000, £55 for £6001 to £10000 and £65 for £10,001 and over. You need to use it over the phone.

    Cheers,
    Joe
  • edited 30 September 2013 at 12:51AM
    IftsIfts Forumite
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    edited 30 September 2013 at 12:51AM
    melbury wrote: »
    I just can't get my head around this though being a dinosaur:o

    Similar to a building society passbook account which require you to go into the branch to carry out any transactions, when you make a transaction the entry shows in the passbook (bit like your share cert) but if you have a online savings account (like online nominee acc) you have to login to your online account and carry out any transactions electronically and trust what is displayed on screen (heres hoping that makes some sort of sense to you!).
    Where are the shares that you have bought actually kept? I always feel that once I have received the share certificate, then I own those shares. So how does it work with no certificate? What if the company you bought them through went bust or disappeared? Do you have some proof of ownership?

    The shares are held electronically in a pooled nominee account. Normally with these nominee accounts the customers investments and cash is ring fenced so should the company go bust the creditors cannot touch the customers investments - http://www.x-o.co.uk/investor-protection.htm.

    (there is a thread on here discussing the safety of nominee accounts, I think Glen Clark* started it)

    Like Joe mentions if its important for you to have a share certificate you can buy through a nominee account then do a certificated withdrawal of shares from your nominee account.

    Certificated withdrawal of shares from nominee (re-registration) via X-O is £15 per stock -
    http://www.x-o.co.uk/our_charges.htm

    EDIT: Yep it was Glen* that started the thread, here it is: If your share platform did a Madoff
    Never let the perfume of the premium overpower the odour of the risk
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