Lowest charge option for selling shares

robadub

I have 95 shares in a Civil Engineering company (share price is currently £13.85).

I am wanting to sell the shares but am unsure of which way would cost me the least in terms of comission/charges.

It will be a complete one off. (apologies if there are threads on this i have done a search but can only find ones geared more to people wanting multiple trades per year). Presumably online trading is the way to go ?

Any reccomendations of stock brokers online or somewhere i can sell them for the lowest fee would be greatly received, thanks in a advance.

george4064

http://monevator.com/compare-uk-cheapest-online-brokers/

bigadaj

X-o online brokers, run by Jarvis securities are often recommended, haven't used them myself but they have a good reputation and will trade from less than £10, if they are certificates, then it will costs a bit more than held electronically.

robadub

Ahh ok, so if they arrive as certificates i cannot trade them online i guess ?

They are through Yorkshire Building Society sharesave scheme, do i get an option to ask for them electronically ?

Apologies not had shares before as you can probably tell

bigadaj

If you have certificates you can send them off, there'll be an extra charge to convert them, give them a ring or send an email to get exact details. You might be looking at £30 cost for a certificate rather than £15 if they are electronic.

Check with the share save scheme if they offer a dealing service, it may be more or less than alternatives.

robadub

If i am requesting them electronically do they come as a code or something ? Do i need anywhere set up to store them ?

Vortigern

bigadaj wrote: »

If you have certificates you can send them off, there'll be an extra charge to convert them

Last time I sent share certificates to X-O there was no charge to convert them to electronic (in a nominee account). OP may wish to use Special Delivery to guard against loss in the post.

If the shares are already in electronic form, there could be charges to convert back to a certificate, or to transfer from one nominee account to another.

X-O will charge £5.95 to sell. See the FAQ on their site for details of how to open a dealing account and how to get the shares into the account.

Vortigern

robadub wrote: »

If i am requesting them electronically do they come as a code or something ? Do i need anywhere set up to store them ?

You need to find out whether your shares are currently in electronic form, or held as share certificates. If they are "electronic" they are held in a nominee account at the brokers.

http://sharedealing.ybs.co.uk/our-share-dealing-accounts/#content

Check the above link. It seems that YBS use Jarvis as nominee/broker. Jarvis also run X-O.

It's probably more convenient to sell through YBS/Jarvis at £11.95 than through X-O/Jarvis at £5.95

Selling certificates through YBS would cost more, so the key question is "Do you hold share certificates?"

talexuser

When I got rid of all our remaining individual shares, X-O did not charge for paper certificates into dealing account electronic, it just took a couple of weeks to finalise. Like Vortigern sent them signed for, and sold for £5.95 each, great value. Just took the money out of the dealing account and left it empty.

george4064

robadub wrote: »

Ahh ok, so if they arrive as certificates i cannot trade them online i guess ?

They are through Yorkshire Building Society sharesave scheme, do i get an option to ask for them electronically ?

Apologies not had shares before as you can probably tell

If they are from a sharesave scheme you can transfer them directly into an ISA if done correctly.

Has the sharesave scheme reached maturity yet? If not, when does it?

Here is a link to an answered thread asking about what to do with shares received from a sharesave scheme, you should find it useful: https://forums.moneysavingexpert.com/discussion/5300218

Vortigern

george4064 wrote: »

If they are from a sharesave scheme you can transfer them directly into an ISA if done correctly.

True, but...

...the OP wants to sell ~£1,315 worth of shares at minimum cost.

There is absolutely no benefit in transferring these shares to an ISA.