Cheapest way to sell Royal Mail shares

faddy

My wife and I have 227 shares each in Royal Mail held in the RM Share Nominee Service managed by Equiniti. These are the first shares we've held since the 80s, so I'm not up to speed with our selling options.

Simplest option looks to be selling them via the link from Equiniti Shareview which would cost £15 per holding. I notice that Equiniti also operate two dealing account services, Equiniti Investment Account which charges £12.50 per trade and Selftrade which charges £11.50 per trade. Would it be a simple matter to transfer the shares into either of these services, given that Equiniti manage the RM CNS? And less simple to transfer to any other dealing service?

Would any or all of the three Equiniti options allow us to sell both mine and my wife's shares in a single trade?

Apodemus

Sounds like a lot of hassle just to save about £3.50 on a £900 deal. I'd skip a coffee today and fund the extra transaction cost out of the saving!

Vortigern

Would Equiniti allow you to transfer your shares to your wife, free of charge? If so, transfer all shares to her and then sell as one lot, so you pay only one £15 fee.

All other options involve too much hassle for a comparatively small saving. Bear in mind that there could be a cost involved in transferring to another broker, like Selftrade or XO.

faddy

Apodemus wrote: »

Sounds like a lot of hassle just to save about £3.50 on a £900 deal. I'd skip a coffee today and fund the extra transaction cost out of the saving!

I take your point but:

- I don't know how much hassle it would be, which was part of the point of the question. I can cope with a bit of online form filling.

- if our two holdings could be combined the saving is rather more than £3.50

- it might be handy to have a dealing account for future use

- this is MSE!

jimjames

Do you have or plan to have any other investments? If so then a different broker with lower charges may be worth looking at. iWeb charge £5 per deal but you need to pay to open an account. Others are similar amounts.

rvp86

And how did you end up doing it Faddy?