Barclays shares - escaping Equiniti custody fees.

Nick_S

For a number of years I've had some Barclays shares as a result of the Woolwich takeover. They went into the Barclays Sharestore which somehow transferred into Equiniti. Up until recently that didn't cost me anything but from July I will have to pay at least £4/month for the privilege (I must admit I have not investigated how much exactly) and as that exceeds the dividends I'm looking for a way out. I don't deal in shares so I'm not really looking for a share dealing service. I gather I can pay to have paper certificates...or maybe just sell the shares? Has anyone else faced this problem and what did you do? Any advice welcome...

AnotherJoe

You must have a pretty small number so why don't you just sell them and invest elsewhere ?or just have a holiday?!

Nick_S

Definitely an option, I have about £1600 worth. Dividend last year was about £30...

youngretired

I've got Barclays shares in Equiniti which moved over from Sharestore years ago. I don't pay any fees, why will you be starting to pay fees from July?

Fingerbobs

youngretired wrote: »

I've got Barclays shares in Equiniti which moved over from Sharestore years ago. I don't pay any fees, why will you be starting to pay fees from July?

Equiniti started charging a Custody Fee on Investment Accounts a few months ago. I transferred all of my shares out of my Equiniti Investment Account and closed the account before the charge came into effect. There was a £10 transfer-out fee to pay.

AnotherJoe

Question for anyone with Barclays shares.
Why do you still have them?

quirkydeptless

AnotherJoe wrote: »

Question for anyone with Barclays shares.
Why do you still have them?

Only tangentially relevant but I have a small number of Lloyds bank shares, which used to be my Halifax shares. I reckon they are about 90% of their original value as Halifax shares.

They are in an Equiniti portfolio account which is free, and they are so low value it hardly seems worth the cost of selling them, so I just get to enjoy the occasional tiny dividend payment that comes my way.

Also I keep them as a constant reminder as to what can happen to share prices!

Nick_S

youngretired wrote: »

I've got Barclays shares in Equiniti which moved over from Sharestore years ago. I don't pay any fees, why will you be starting to pay fees from July?

Errm, you're right. I confused two letters.:o It's Barclays Smart Investor (who manage my Barclays Investment ISA) that's going to start charging - from 1st June, invoiced a month in arrears. Simple solution, transfer under ISA transfer rules. Case closed...


Apologies to all :o