walk in sell shares with certificate??

surfsister

May I ask a quick question as I am getting nowhere.

Just want to buy/sell shares using paper certificates going into an office/bank with no complicated accounts etc

I used to use Lloyds but they want me to open some complex account.

Any ideas where I can wander in with a certificate and sell some shares?

Browntoa

High street banks used to offer this but paper certificate dealing is being phased out

I've used

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

To sell paper shares for £5.95 , high street banks was a minimum of £25.

Simple process , just registered and sent paperwork in the post

AnotherJoe

Why is the account "complex"? I can see why you might not want to open an account if you just have some share certificates already and want to sell, but if you will be trading, eg sell and buy, , it's far easier to have an account, and also far cheaper and quicker.

You can also avoid a lot of tax issues by opening an S&S ISA in which you'd trade. Slight hassle to open but it's a one off unlike the hassle you'll have every time you buy and sell using paper.

surfsister

most accounts seem to charge fees for the account and are online. I really want a simple walk in no account service. I used to use Lloyds but they don't do walk in anymore.

do you know of fee free account??

bowlhead99

You won't get a simple walk in service with no registration required because stockbroking (placing the trade for you into a live stock market) is a regulated business, with a different set of regulations to depositing or withdrawing cash from a bank account, so it doesn't make commercial sense for that service to be provided by bank cashiers.

And even if they did offer it, it wouldn't be fee free, because "what's in it for them". And even if a walk-in service was available at some bank other than your own bank, you can bet they wouldn't offer it to you if you weren't their existing banking customer, so you would have to open an unwanted bank account with all the 'complexity' and documentation that requires.

Your best bet for a one-off sale of certificated shares is probably x-o.co.uk as suggested to you last Sunday in post #2- the fees are less than it will cost them to establish a relationship with you and do the work of selling the shares and delivering you the proceeds, so I would be surprised if you could get it appreciably cheaper.

Browntoa

I've used x-o myself in the past with no problems

Vortigern

I also use XO. No fees for the account if you don't use their ISA.
Just £5.95 to sell your shares.

You could use http://www.sellmysharecertificates.com/
This is from the same company as XO. No account is required, but it costs a little more - £22.50

It claims to be simple. Perhaps there are fewer steps than with XO?

Ifts

surfsister wrote: »

do you know of fee free account??

Can't help you with a suggestion for a walk in service to sell your shares but X-O.co.uk is fee free and easy to sign up to.

Here is a post I put up for another poster explaining the process to sell their certificated shares using X-O:


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.