Selling shares - newbie question

ranciduk

Hi
I’ve never bought shares before but last week I bought some Lloyds banking group shares through Equiniti 

I logged into my Equiniti account tonight and they are all updated on my holdings- sorted 

anyway I don’t intend selling them for a long long time but out of interest I looked into how this is done - and I’m confused 

Do I just ring Equiniti and ask to sell them - and they then pay money into my nominated bank account?

is it that simple?

Only, I’ve been googling and I keep reading that you need to sell something called ‘share certificates’

i don’t have any share certificates! were Equiniti supposed to send me one in the post?

do you definitely need one in order to sell shares?

Thanks 

[Deleted User]

Hi.
Equiniti hold your shares in your share account electronically. So therefore you don't hold physical paper shares.
If you had paper shares and wanted to sell them you'd have to send them recorded delivery etc and theres always a chance they could get mislaid.
I hold my shares which I have.bought through my work via SAYE with equiniti.
If you want to sell your shares eventually ring equinti and quote your share account number.
You should be able to log into equinti and view, update and sell your shares. 

ElephantBoy57

Years ago, I used to buy shares and they would always send me a certificate, and the other way around when selling. These days I have an online account, within an ISA, so everything is online, no certificates.

Is yours all online? I believe you can still buy, with just a certificate, I still have shares in Vectura, with a share certificate.

ranciduk

[Deleted User] said:

Hi.
Equiniti hold your shares in your share account electronically. So therefore you don't hold physical paper shares.

If you want to sell your shares eventually ring equinti and quote your share account number.
You should be able to log into equinti and view, update and sell your shares. 

Ok cool

so I just ring them and quote my SRN number and it’s all done electronically 

thanks!

AnotherJoe

If you logon on to your equiniti account and see the shares, is there not an option in there to sell them?

Any reason you didnt buy them inside an ISA?

Thrugelmir

Why Equiniti?  How much was the share dealing fee? 

Fingerbobs

When I sell shares from my Equiniti Investment Account, the proceeds stay as a Cash Balance in the Investment Account. After a few days, the money can be withdrawn to a linked bank account. I don't think there's any way to have the sale proceeds sent directly to an external bank account.

ranciduk

Umm about £30

Thrugelmir

ranciduk said:

Umm about £30

Does that include stamp duty? 

ranciduk

All charges came to about £30 in total

couriervanman

Not the cheapest then