Share Dealing

christhesparky_2

does anyone know of anywhere that i can use to buy some shares without having to open an account?

jonesMUFCforever

Do you mean a bank account or a stockbroking account?

Most will want you to have a current account that accepts direct debits in order to deduct money for purchases and credits for sales.

If you want to use the old fashioned way and deal in cheques expect the fees to be much higher to reflect this.

christhesparky_2

want to be able to buy shares as a one off deal, without having to join a share dealing service

jonesMUFCforever

Because of money laundering legislation this may prove difficult. All the stockbrokers will register you for free.

jonesMUFCforever

I don't think BP or ICI could ever have been considered penny shares!

digerati

christhesparky wrote: »

does anyone know of anywhere that i can use to buy some shares without having to open an account?

Easiest way is to find someone who wants to sell the same shares you want to buy and do a private treaty transfer. (Basically you are cutting out the broker as middleman.)

You can download the necessary Stock Transfer Form, fill in the details and send it off to the registrar who will issue new shares in th purchaser's name. Stamp duty may be payable by the purchaser. Note: purchaser should pay after the transfer is completed and new shares received (unless they know and trust the seller).

jonesMUFCforever

digerati wrote: »

Easiest way is to find someone who wants to sell the same shares you want to buy and do a private treaty transfer. (Basically you are cutting out the broker as middleman.)

You can download the necessary Stock Transfer Form, fill in the details and send it off to the registrar who will issue new shares in th purchaser's name. Stamp duty may be payable by the purchaser. Note: purchaser should pay after the transfer is completed and new shares received (unless they know and trust the seller).

For a one off purchase (OP seems to be a novice investor) this is totally out of their league.
What is he supposed to do put an ad in the newspaper - 'Anyone want to sell me shares in XYZ Plc?