Share dealing companies

natsaver

Sorry if this is posted in the wrong section but I'm looking for some advice around selling my company shares.

I work for Tesco and invest monthly into share schemes and receive free shares yearly.

My recent issue is selling the shares. Historically, I have used Equiniti which is the company which manages the schemes however, this year it cost me £25 to sell shares of a value of around £600, used to be £15 for a lot higher value.

They also will only pay by cheque when they used to transfer direct to bank accounts before. I take this as another way of holding on to my money longer. Lets face it, who uses cheques these days! What a load of hassle.

Does anyone have any recommendations for a share dealing company's which are fairer on charges but also pay direct to bank accounts?

Lokolo

Find out how much it costs to transfer the shares out to paper or another scheme.

If they are UK shares (assuming Tesco, on the LSE), then X-O is your best bet. £5.95 to sell.

http://www.x-o.co.uk/

You may need to get share certificates, then transfer them into X-O.

However I don't know how they transfer money. I assume by bank transfer.

Vortigern

X-O will sell shares for £5.95

You may be able to transfer your shares from Equiniti to X-O free of charge if you do it as soon as the shares come out of the scheme.

If you're expecting a taxable gain you should investigate using an ISA.

natsaver

Thanks for the replies.

I am dealing twice a year with certificates, am I right in thinking X-O want a year subscription of £95+Vat though?

They would be a bit pricey, but I can understand that regular dealing would make them very attractive.

Lokolo

natsaver wrote: »

Thanks for the replies.

I am dealing twice a year with certificates, am I right in thinking X-O want a year subscription of £95+Vat though?

They would be a bit pricey, but I can understand that regular dealing would make them very attractive.

Where have you got that from?

natsaver

Sorry i'm miss reading the account types I think.

X-O seems pretty awesome.. thanks for the help. Just opening an account now!

Niv

natsaver wrote: »

Thanks for the replies.

I am dealing twice a year with certificates, am I right in thinking X-O want a year subscription of £95+Vat though?

They would be a bit pricey, but I can understand that regular dealing would make them very attractive.

its £5.95 per transaction - no annual fee for a normal execution only account with them. I think there is a fee for an ISA account with them though.

chris_m

Niv wrote: »

I think there is a fee for an ISA account with them though.

Only for closing an ISA, £50.
No opening fee, no admin fee, no non-activity fee.