Selling commonwealth bank of Australia shares

londoninvestor

The Transferwise Borderless account is worth looking at, as a way of receiving cash through an Australian domestic transfer, and exchanging it efficiently back to GBP.

Not sure if being the executor of the estate, rather than direct owner of the shares, will cause an issue though - possibly Link wouldn't pay it into an account with your name on it.

DreamweaverB

maddog180169 wrote: »

I think I will respond back to Link Market Services as hopefully they will not require any ID sending over to Australia as they are the holding company

Did you follow up with Link Market Services for this? (I'm in the same boat and thinking of using TransferWise to get the AUD funds as I've already had the shares transferred into the Executor's name.)

Mistermeaner

update on this subject:

I ended up in contact with

https://www.linkmarketservices.com.au/corporate/home.html

(the australian website NOT the UK one)

After weeks of sending letters and documents back and to I have eventually managed to sell the shares and get a cheque from them for the proceeds (Aus $38K)

Now the problem I have is that I need to find somewhere to cash this cheque that is marked ‘Payable to the administrators of XXXXXX’

Nationwide would not accept it so my next port of call is Barclays

I’ve separately started a thread on here about that and will provide link

Mistermeaner

thread on cheque:

https://forums.moneysavingexpert.com/discussion/6056237/cheque-payable-to-the-estate-of

Thrugelmir

Mistermeaner wrote: »

Now the problem I have is that I need to find somewhere to cash this cheque that is marked ‘Payable to the administrators of XXXXXX’

Have you not opened a bank account to handle the winding up of the Estate?

Mistermeaner

Thrugelmir wrote: »

Have you not opened a bank account to handle the winding up of the Estate?

yes and no

my father is the sole beneficiary - he had a joint bank account with my late mum (with nationwide)

we took mum off the account and added me so i've used this for all estate matters - everything else has been sorted this way without problem its just nationwide won't accept a cheque marked 'payable to the estate of...'

I personally bank with barclays so will see if they will allow me to open and estate account

if anyone has any pointers as to places that allow estate accounts would appreciate it

xylophone

Relative is sole executor of an estate and opened an executor's account with Barclays.

Gabrielle_attwater

Hi did you resolve your share selling issue as I have same problem, any help be appreciated.
Gabrielle

jennyjj

Gabrielle_attwater wrote: »

Hi did you resolve your share selling issue as I have same problem, any help be appreciated.
Gabrielle

I too have some Commonwealth Bank shares to sell. at least they are in my name. However, I've just read that my bank, Natwest, are going to stop accepting foreign cheques as of 7 Jan. ! Too tight a deadline for comfort.
Need to check if any of my other banks will accept such cheques later than that.

dales1

This old post of mine just might help (concerning Hartleys.com in Australia).
https://forums.moneysavingexpert.com/discussion/5648597/how-to-do-one-off-sale-of-australian-shares
They sent a credit, not a cheque. The fees were competitive, and they were helpful.
Dales.