Halifax Sharedealling Account fee from 2022

Thrugelmir

AccounSteve_xx said:

So, the question is, who doesn't charge an annual fee, and can one transfer shareholdings to them?

Fees are the way forward. Platforms have benefited in the past from interest earnt on clients cash deposits. A practice which has come under serious scrutiny by regulators. 

noh

Type_45 said:

adam81 said:

Do iWeb offer the £2 per trade for regular investment's?   Seems that will remain at Halifax.

I think so. 

No.
Iweb do not have a low cost regular dealing facility.

comment_as...

My concern is if iweb are the same people, is it just a matter of weeks until they introduce the exact same fee?

Alexland

comment_as... said:

My concern is if iweb are the same people, is it just a matter of weeks until they introduce the exact same fee?

iWeb is operated under a separate brand aimed at more price sensitive customers and they have only just reviewed their charges to increase the opening fee from £25 to £100 so it seems unlikely other charges will be changed anytime soon. The whole point of iWeb is to have different charging to HSD so that together they appeal to a greater number of customers for economies of scale.

LeadFarmer

Any suggestion on where to move my shares that I have please?

I have shares in just one company, purchased through Halifax Share Dealing account. I don't intend to buy/sell any shares in the near future, I just want to hold the shares I have got. They are currently at a loss, so I don't want to just sell them as I'd hardly get anything for them. Paying £36/year wouldn't be cost effective.

So I just want to be able to keep the shares I have, but where do I move them to? Can I keep the certificate myself and then when the time comes to sell I find somewhere to sell them through?

refluxer

LeadFarmer said:

Any suggestion on where to move my shares that I have please?

I have shares in just one company, purchased through Halifax Share Dealing account. I don't intend to buy/sell any shares in the near future, I just want to hold the shares I have got. They are currently at a loss, so I don't want to just sell them as I'd hardly get anything for them. Paying £36/year wouldn't be cost effective.

So I just want to be able to keep the shares I have, but where do I move them to? Can I keep the certificate myself and then when the time comes to sell I find somewhere to sell them through?

I only sell shares through Halifax very occasionally, so have decided to close my account (due to the fees) and have opened one with x-o instead. x-o is often recommended on here, but you would have to check to see if their service meets your needs, including whether or not they deal with your particular shares (if they're in any way unusual). I've only gone as far as opening an account so can't comment on anything other than the account opening process so far, which was fine.

I don't currently have any shares with Halifax so have none to transfer but (presuming that the Halifax currently hold your shares electronically) I would imagine the transfer process for you would be wholly electronic and won't involve physical certificates. You'll need to check the T&Cs and lists of charges of both the Halifax and whichever new company you select for any potential transfer fees that might apply.

jimjames

LeadFarmer said:

Any suggestion on where to move my shares that I have please?

So I just want to be able to keep the shares I have, but where do I move them to? Can I keep the certificate myself and then when the time comes to sell I find somewhere to sell them through?

You might want to look at HL.co.uk, I believe their non ISA account has no holding fee for shares

pafpcg

LeadFarmer said:

.......
So I just want to be able to keep the shares I have, but where do I move them to? Can I keep the certificate myself and then when the time comes to sell I find somewhere to sell them through?

I'd second the suggestion of transferring your holdings to X-O, the low-cost service from Jarvis Investment Management.  As a buy-and-hold investor, I've been using them for a while and have been satisfied with their service.

The alternative would be to "certificate" your share holding (aka "materialisation").  HSDL will do that for you on request and there would be a fee (c£30?). You would, of course, have to keep the share certificates in a safe & secure place but there'd be no further charges, you get to vote as a shareholder and dividends can be sent direct to your bank account.  When you want to sell, deposit the shares with a low-cost broker (eg X-O) and request a sale - the cost at X-O would be nothing more than the normal on-line sale fee plus the cost of posting the share certificates.  I've got a mixture of share certificates and nominee holdings at iWeb and X-O.

LeadFarmer

Thanks, I hadn't heard of X-O before. It looks like I would just need to open an account and would only be charged when buying/selling shares. Not sure if there's a charge for moving my current PXS shares over to them? Or even how to do that?

*Edit- just seen they explain the following on their webpage..

How do I transfer in stock from another broker?

You will firstly need to open an X-O share dealing account. Once your account is open, simply download a transfer form by clicking here and then complete, sign and return it to us. We will then contact your broker and make arrangements for the transfer of your stock.

LeadFarmer

Thanks for the recommendation, I have opened an account with X-O and will download the form for transferring my existing shares from Halifax.