Shares

Mark_Foot

Please can anyone offer advice regarding my elderly parent's small number of low value paper shares. How can we dispose of them without paying large costs?

eskbanker

I haven't dealt with them but see that http://www.sellmysharecertificates.com/#comparison is linked from the main http://www.x-o.co.uk/ site and compares their fixed-fee model against the percentage (with minimum) fee offered by others, but there's always going to be a cost associated with selling paper shares, which will obviously be proportionally high if they're low value....

cloud_dog

Just for info...X-O have an account closure fee (£50 I believe).

Vortigern

eskbanker wrote: »

I haven't dealt with them but see that http://www.sellmysharecertificates.com/#comparison is linked from the main http://www.x-o.co.uk/ site and compares their fixed-fee model against the percentage (with minimum) fee offered by others, but there's always going to be a cost associated with selling paper shares, which will obviously be proportionally high if they're low value....

Sellmysharescertificates has a fixed fee of £22.50 per sale

XO is only £5.95 per sale

OP could help father to open an XO account, send the certificates in and then sell

cloud_dog wrote: »

Just for info...X-O have an account closure fee (£50 I believe).

The account closure fee applies only to their ISA. An ISA would be of no benefit where there's no intention to hold on to the shares.

sevenhills

eskbanker wrote: »

I haven't dealt with them but see that http://www.sellmysharecertificates.com/#comparison is linked from the main.

I telephoned the Halifax to sell my £600 worth of Sainsburys shares, after I had read that it cost £25 - the same as in your link, but it was a minimum of £45; which is what HL charge.
I am hoping to sell on Friday.

eskbanker

sevenhills wrote: »

I telephoned the Halifax to sell my £600 worth of Sainsburys shares, after I had read that it cost £25 - the same as in your link, but it was a minimum of £45; which is what HL charge.
I am hoping to sell on Friday.

The link I quoted was a comparison prepared (a year ago) by one of Halifax's competitors so you should always go with Halifax's own figures, as published at https://static.halifax.co.uk/assets/pdf/filestore/CostAndCharges.pdf, although to be fair this does also refer to the £25 minimum charge for certificate sales.

If they're quoting charges that differ from their published rate card then complain....

sevenhills

eskbanker wrote: »

If they're quoting charges that differ from their published rate card then complain....

Now I think about it, when I rang the Halifax, they referred me to 'Equinity' who charge £45.
Which is the same company that 'Shareview' uses.

Not sure I like the idea of doing it by post, I may get a higher share price, if I can see the real time price on Friday.

Ifts

Mark_Foot wrote: »

How can we dispose of them without paying large costs?

As already stated you can use X-O.co.uk.

Here is a post I put up as a suggestion to a similar question to yours in how to do it:

You could use someone like X-O.co.uk share dealing services (£5.95 per trade) for a cheap method of selling the shares.

Open a Share Dealing account with X-O.co.uk (part of Jarvis Investment Management Ltd) - free to open and no annual account charges - then transfer your share certificates in to your account (to be safe send the shares in by registered post) and sell them for £5.95 per share holding.

How do I transfer in stock that I hold in the form of certificates?

http://www.x-o.co.uk/how_to_use.htm#5

What markets can I deal in?

http://www.x-o.co.uk/how_to_use.htm#11


And if you don't want to go down the route of transferring them into electronic form you could use:

http://www.sellmysharecertificates.com/

(which like X-O.co.uk is also part of Jarvis Investment Management Ltd) and sell at a fixed commission of £22.50 per holding.

Vortigern

sevenhills wrote: »

Now I think about it, when I rang the Halifax, they referred me to 'Equinity' who charge £45.
Which is the same company that 'Shareview' uses.

Equiniti is the share registrar. They also provide a nominee service. Do you have a share certificate? Or are your shares held in their nominee account? You need to know which, as they need different forms for the sale, and possibly will charge different fees.

Shareview is a service provided by Equiniti.

sevenhills

Vortigern wrote: »

Equiniti is the share registrar. They also provide a nominee service. Do you have a share certificate? Or are your shares held in their nominee account? You need to know which, as they need different forms for the sale, and possibly will charge different fees.

I have a share certificate, but I am thinking that opting for the cheaper fixed fee by post, I will get a lower share price that is decided by them, rather than seeing a good price and trading at my choice. I don't know how it works by post.

Vortigern

sevenhills wrote: »

I have a share certificate, but I am thinking that opting for the cheaper fixed fee by post, I will get a lower share price that is decided by them, rather than seeing a good price and trading at my choice. I don't know how it works by post.

If you have a share certificate, you don't need to sell via Equiniti.

You can sell via XO, as detailed above. You will be able to see the deal price before committing to the sale.