Corporate Sponsored Nominee - bit of a whinge!

sanfairyanne

I'm going through a sizeable cardboard box full of share certificates and random junk belonging to my mother. Thankfully despite the chaos only a few certificates are missing. I have learnt something; I never knew that CSN or Corporate Sponsored Nominee holdings no longer required the owner to keep the certificate. This was a welcome relief because I initially though a lot of certificates were missing. My only gripe is that I need to pay £10 for an E form to allow me to transfer these holdings to a Lloyds Share Dealing account. I find this a bit of a cheek considering my mother was almost certainly never given a choice, I assume they were simply changed to CSN.  I can transfer regular certificates for free, but computerised CSN's cost £10, you'd expect it would be the other way around.  

I wonder if anyone has a view on this, am I just being stingy?

maxsteam

The charges vary between providers.

singhini

sanfairyanne said:

I wonder if anyone has a view on this, am I just being stingy?

No, i agree with you (it seems odd that CSN shares cost £10 each while old fashioned / regular paper Share Certificate ones are free).
I inherited some shares a few years ago in 5 different companies (each share holding is only £100-ish each). I can see all the shares on my Equiniti Shareview account but they want minimum £45 if i want to sell them online (£60 via the phone). The Santander shares are only 10 shares worth £23 (yet if i want to sell them its going to cost me twice their current value)

i just posted a question on a different thread about trying to leave Equiniti due to there charges (someone had mentioned on this other thread a company called X-O.co.uk where it looks like selling shares costs a fixed £5.95 irrespective of the value of the shareholding). 

sanfairyanne

singhini said:

sanfairyanne said:

I wonder if anyone has a view on this, am I just being stingy?

No, i agree with you (it seems odd that CSN shares cost £10 each while old fashioned / regular paper Share Certificate ones are free).
I inherited some shares a few years ago in 5 different companies (each share holding is only £100-ish each). I can see all the shares on my Equiniti Shareview account but they want minimum £45 if i want to sell them online (£60 via the phone). The Santander shares are only 10 shares worth £23 (yet if i want to sell them its going to cost me twice their current value)

i just posted a question on a different thread about trying to leave Equiniti due to there charges (someone had mentioned on this other thread a company called X-O.co.uk where it looks like selling shares costs a fixed £5.95 irrespective of the value of the shareholding). 

Thanks Singhini, Wow that must have been a kick in the teeth, you get an inheritance only to find it costs more to receive the value of the shares than they're worth. I understand it's a lot of hassle for companies to hold paper share certificates. X-O does sound promising, however, I'm not needing to sell them just yet, so I'm going to transfer them to Lloyds. I just prefer a better known broker. I can sell one via Lloyds for £11. Incidentally, one of our holdings is with Santander, this one is a CSN. So it should only cost you around £10 for the E form to transfer it.
Good luck.