High Street broker? 9 January at 1:05PM in Savings & investments 1 reply 131 views

olbas_oil

Is there anyone who will sell FTSE shares from a paper certificate, for a relative?  It used to be that you could go into most High Street banks to do that, but they now all seem to require setting up an online account. This would be for just 2-3 transactions at the same time, so he'd rather not go through the hassle of opening an account, if that can be avoided. The certificate is in his name and he would have no problem providing ID.

refluxer

This question gets asked from time to time and the short answer is that I don't think that selling paper shares on the high-street in that way is possible any more.

The closest you'd probably get if you're set on avoiding setting up an online account is dealing with a broker (or selling via the registrar) over the phone, but then the commission for selling in this way will be high and, as this may still involve setting up some kind of dealing account and will definitely require posting the paper certificates to the broker, this would simply end up being less convenient and more expensive than setting up an online account.

I opened an account with X-O a while ago - setting up the account was quick and easy and the paper certificates I've posted to them so far have been received and processed in a matter of days, although I did pay extra for the Royal Mail 'Special Delivery Guaranteed by 1pm' service and this was before the recent postal issues. X-O's low dealing fee (£5.95) is among the lowest of the online broker dealing fees and way lower than the commission you'll have to pay when dealing by phone.

Here is a similar thread on this subject... https://forums.moneysavingexpert.com/discussion/comment/79736477