Want to sell certificated shares

bemused77

Want to sell some certificated shares and seems cheapest way is to avoid the banks and Equiniti. If I send the certificates by post to a broker should I send them registered post?
Any recommendations as to who to use much appreciated. 

gt94sss2

I would use special delivery. 

I recommend you transfer the shares to https://www.x-o.co.uk/ and you can then sell them for £5.95/share holding

boingy

Another vote for XO. I just used ordinary post.

wmb194

bemused77 said:

Want to sell some certificated shares and seems cheapest way is to avoid the banks and Equiniti. If I send the certificates by post to a broker should I send them registered post?
Any recommendations as to who to use much appreciated. 

Which banks are you thinking of? Barclays would cost £6 and iWeb (Lloyds) would be £5. iWeb recommends by recorded delivery, see bottom of page linked below.

https://www.iweb-sharedealing.co.uk/our-accounts/transfer-your-existing-investments.html

refluxer

bemused77 said:

Want to sell some certificated shares and seems cheapest way is to avoid the banks and Equiniti. If I send the certificates by post to a broker should I send them registered post?

This depends on the total value of your shares and your attitude to risk, bearing in mind the current state of the postal service ! 

The cost for replacing lost share certificates is detailed in the tables on this page...

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

Note that you have to add the £50 admin fee to the countersignature waived fee, so the total cost starts to run into the £100s once the value exceeds £5k.

I tend to use the Royal Mail 'Special delivery' service, which cost £6.85 the last time I used it. Mail sent via that route is treated separately to first/second class mail, which is the main reason I use it. The service does include a certain amount of compensation although I'm not sure if it would cover the replacement fees mentioned above.

bemused77 said:

Any recommendations as to who to use much appreciated. 

Like a couple of the posters above, I use X-O. It's a basic service (and website) but works well and, in my experience, paper shares sent to them via special delivery are processed and ready to sell quickly (as little as 2 working days on one occasion which is pretty impressive).

The only drawback to X-O is that requesting a withdrawal for dividends or the proceeds of a deal from the sharedealing cash account can take 2-3 days.

Zoe02

I recently converted my certificated shares to digital ones and moved to iweb. 

Equiniti charges are too high and only had small holding from when Royal mail went public..

Selling certificated shares more expensive. 

I sent mine with first class post but recorded mail better. 

bemused77

Thank you one and all for the advice.