Don't Forget Halifax Share Dealing Starts Charging for "Holding" Shares Soon

Audaxer

I think Halifax SD is still a good option for holding funds if not trading much, as cheaper than most platforms that charge on a percentage basis.

valiant24

NewPieman said:

Remember Halifax Share Dealing Account starts charging to have an account in April......so if you just hold shares in there and do nothing....you'll be £36 a year lighter......

This does not, I trust, apply to iWeb?
(Though it wouldn't surprise me as I've just spent the best part of a year moving stuff to them!)

Aylesbury_Duck

valiant24 said:

NewPieman said:

Remember Halifax Share Dealing Account starts charging to have an account in April......so if you just hold shares in there and do nothing....you'll be £36 a year lighter......

This does not, I trust, apply to iWeb?
(Though it wouldn't surprise me as I've just spent the best part of a year moving stuff to them!)

Me too.  13 months to transfer from Vanguard, but as I recently discovered, Vanguard were also at fault for the protracted transfer.

I think/hope iWeb put up their account opening fee from £25 to £100 instead of implementing an annual account fee.

wmb194

valiant24 said:

NewPieman said:

Remember Halifax Share Dealing Account starts charging to have an account in April......so if you just hold shares in there and do nothing....you'll be £36 a year lighter......

This does not, I trust, apply to iWeb?
(Though it wouldn't surprise me as I've just spent the best part of a year moving stuff to them!)

No, it doesn't. Although it will still burn you for a 1.5% fx fee, the only recent thing it's changed is to drop the commission charge on international trades  

arnoldy

If people are concerned about £36/yr they probably have about £1-2000 of shares. In which case ask for the paper certificate and close the account - better for client and HSDL.

GeoffTF

arnoldy said:

If people are concerned about £36/yr they probably have about £1-2000 of shares.

...or live in Yorkshire.

wmb194

arnoldy said:

If people are concerned about £36/yr they probably have about £1-2000 of shares. In which case ask for the paper certificate and close the account - better for client and HSDL.

Certificates are always a dreadful idea - see the threads that regularly appear about them - so better to transfer them to a cheaper broker. IIRC Freetrade is now accepting in specie transfers.

surreysaver

GeoffTF said:

arnoldy said:

If people are concerned about £36/yr they probably have about £1-2000 of shares.

...or live in Yorkshire.

🤣😂🤣😂🤣😂🤣😂🤣😂

pafpcg

wmb194 said:

arnoldy said:

If people are concerned about £36/yr they probably have about £1-2000 of shares. In which case ask for the paper certificate and close the account - better for client and HSDL.

Certificates are always a dreadful idea - see the threads that regularly appear about them - so better to transfer them to a cheaper broker. IIRC Freetrade is now accepting in specie transfers.

Somewhat of a sweeping statement!

The threads about certificates, in my recollection, seem mostly about inherited paper share certificates with questions about how to sell them and usually promptly answered by how straightforward it is to deposit them with an on-line broker and convert them to cash.

I have to disagree with your basic assumption - there are advantages to holding paper certificates - dividends are in our bank accounts on the due payment date, only direct holders of shares get to vote on company resolutions and there's no impact if a favoured broker gets into difficulties.

Anecdotal evidence:  In the summer of 2019 I made a mistake when thinking of certificating one of my investment trust holdings at an on-line execution-only broker held in the broker's nominee account, but with an upcoming dividend due shortly: I delayed!  A couple of weeks later, the broker* was forced into administration by the FCA because of issues at an associated advisory broker service.  It took over a year before any of the £1000+ of accumulated dividends became available and I was able to regain control of all my holdings at the failed broker some fifteen months later.  In the almost thirty years of holding paper share certificates, I've had no problems, nor can I recall having any difficulty selling them; I can routinely receive funds from a sale within two weeks of despatching the paper certificate to my on-line broker.

* The broker in question was SVS X-O and you can read the 600-odd pages of anguished posts in a thread in this very forum.  Broker failures are not uncommon and it's a risk which has to be accepted especially if using a "cheaper broker".

GeoffTF

Share certificates have the skids under them anyway:

https://www.sharesoc.org/sharesoc-news/dematerialisation-of-shares-certificates-to-be-abolished/