Which share dealing service for paper shares?

bigpappa

My parents have quite a few paper share certificates - not major amounts - few hundred pounds worth each, but they want to sell some now. They went to their bank but they were charging something like £100 to sell shares probably worth a few hundred.

Can anyone recommend an online service where they can send in their share certificates to be sold. I am a bit new to this and have done a search but no wiser - I don't own any shares myself.

Thanks

MX5huggy

XO are generally recommended in these cases.

https://www.x-o.co.uk/ 

themoomins

I second X-O mentioned above. I have used them for years and only £5.95 per transaction. It will take  while to set up and verify, and you have to manually request withdrawal but the low fees make it worth the small amount of hassle/waiting.

Also ETA XO are owned by Jarvis Investment so not just some random online dealing service.

Brie

I don't have the details but I know there is also a charity that will accept small quantities of shares, paper or otherwise, that might cost too much for an individual to cash in.  Obviously you'd want to be sure that you aren't handing away an early Apple issue or similar but this seems a good alternative if the share is worth pennies but the fees are higher.  As i understand it they have a deal where the fees are waived and the money goes to good causes.

MX5huggy

Charity- https://www.sharegift.org/

Brie

MX5huggy said:

Charity- https://www.sharegift.org/

I knew someone would know!!

bigpappa

Bump.

So finally had a chance to sit down with them and I am more confused than before. I thought it was a few hundred pounds but its a bit more than that.

They currently have 4 lots of share holdings, 3 for mum and 1 for dad. 

Dad

BT Shares 220 @ 129p = £284

Mum

National Grid 111 @ 1020p = £1132.20 (share certificate)
Centrica 356 @ 96p = £345.00
Shell 166 @ 2428p = £4030.48

Now I can only make out one certificate - National Grid, the others are letters from Equiniti with their reference numbers. Also there is a reference to register with shareview.co.uk.

So what is the best option? Selling using the shareview service seems expensive but to register shares with a sharedealing service I would first need to get the share certificates which there would be admin charge of £35.18 per holding

https://equiniti.com/uk/help-and-support/lost-certs-docs/letter-indemnity-charge

wmb194

bigpappa said:

Bump.

So finally had a chance to sit down with them and I am more confused than before. I thought it was a few hundred pounds but its a bit more than that.

They currently have 4 lots of share holdings, 3 for mum and 1 for dad. 

Dad

BT Shares 220 @ 129p = £284

Mum

National Grid 111 @ 1020p = £1132.20 (share certificate)
Centrica 356 @ 96p = £345.00
Shell 166 @ 2428p = £4030.48

Now I can only make out one certificate - National Grid, the others are letters from Equiniti with their reference numbers. Also there is a reference to register with shareview.co.uk.

So what is the best option? Selling using the shareview service seems expensive but to register shares with a sharedealing service I would first need to get the share certificates which there would be admin charge of £35.18 per holding

https://equiniti.com/uk/help-and-support/lost-certs-docs/letter-indemnity-charge

So you're saying the certificates are lost? If not and it's just that they've already been dematerialised and are held with Equiniti, then you don't need to materialise them to get them to another broker, you can instead transfer them electronically in specie. I'm not sure whether Equiniti would charge for this - many brokers these days don't.

bigpappa

wmb194 said:

bigpappa said:

Bump.

So finally had a chance to sit down with them and I am more confused than before. I thought it was a few hundred pounds but its a bit more than that.

They currently have 4 lots of share holdings, 3 for mum and 1 for dad. 

Dad

BT Shares 220 @ 129p = £284

Mum

National Grid 111 @ 1020p = £1132.20 (share certificate)
Centrica 356 @ 96p = £345.00
Shell 166 @ 2428p = £4030.48

Now I can only make out one certificate - National Grid, the others are letters from Equiniti with their reference numbers. Also there is a reference to register with shareview.co.uk.

So what is the best option? Selling using the shareview service seems expensive but to register shares with a sharedealing service I would first need to get the share certificates which there would be admin charge of £35.18 per holding

https://equiniti.com/uk/help-and-support/lost-certs-docs/letter-indemnity-charge

So you're saying the certificates are lost? If not and it's just that they've already been dematerialised and are held with Equiniti, then you don't need to materialise them to get them to another broker, you can instead transfer them electronically in specie. I'm not sure whether Equiniti would charge for this - many brokers these days don't.

I used the term lost as they didnt have share certificates but they do have their equiniti reference - so that's for clarification. 

You are correct the certificates are dematerialised and I have the reference numbers. Now is it better to use Equiniti to sell the shares or transfer them to a broker and then sell?

Also where do you update the registers so that any dividend can be paid electronically - they mentioned they stopped receiving cheques so I assume they probably have some money owed to them in dividends. 

wmb194

bigpappa said:

wmb194 said:

bigpappa said:

Bump.

So finally had a chance to sit down with them and I am more confused than before. I thought it was a few hundred pounds but its a bit more than that.

They currently have 4 lots of share holdings, 3 for mum and 1 for dad. 

Dad

BT Shares 220 @ 129p = £284

Mum

National Grid 111 @ 1020p = £1132.20 (share certificate)
Centrica 356 @ 96p = £345.00
Shell 166 @ 2428p = £4030.48

Now I can only make out one certificate - National Grid, the others are letters from Equiniti with their reference numbers. Also there is a reference to register with shareview.co.uk.

So what is the best option? Selling using the shareview service seems expensive but to register shares with a sharedealing service I would first need to get the share certificates which there would be admin charge of £35.18 per holding

https://equiniti.com/uk/help-and-support/lost-certs-docs/letter-indemnity-charge

So you're saying the certificates are lost? If not and it's just that they've already been dematerialised and are held with Equiniti, then you don't need to materialise them to get them to another broker, you can instead transfer them electronically in specie. I'm not sure whether Equiniti would charge for this - many brokers these days don't.

I used the term lost as they didnt have share certificates but they do have their equiniti reference - so that's for clarification. 

You are correct the certificates are dematerialised and I have the reference numbers. Now is it better to use Equiniti to sell the shares or transfer them to a broker and then sell?

Also where do you update the registers so that any dividend can be paid electronically - they mentioned they stopped receiving cheques so I assume they probably have some money owed to them in dividends. 

For the certificate I'd sell it via X-O or sellmysharecertificates.com (both Jarvis Securities).

For the electronically held holdings with Equinti, I'd clarify the price to sell. If it isn't massively excessive - the £10.99 for online trades I see quoted on the Eqi page - I'd just sell that way. Otherwise, and if you're not in a massive hurry, transfer them to another broker in specie e.g., X-O for £5.95 per trade or if you're feeling adventurous Freetrade with no fees. I guess it depends on how much effort you want to go to and what the time and worry is worth.

For dividends it's the stockbroker that holds them for you in its nominee account or, for certificated, the registrar but either way for you you need to speak with Equiniti.

bigpappa

Sold Dad BT Shares online via Equiniti as I thought they were cheaper - quite surprised for selling 220 shares cost £45 plus £65 for loss of certificate. 

£110 in fees - no wonder stock brokers drive porsches.