BP Shares - nominee not certifcated - how do I transfer registrar?

Lornsy

I hope someone can de-pickle my head as I am so confused!
I have some BP shares in a Halifax account which a friend gifted to my son aroun 12 years ago (he is now 12, it was for his Christening). A few years back Halifax started charging £36 per year admin fee and because I didn't update my bank details in time, some shares were sold and so the account balance has gone to nearly nothing. I do want to keep hold of what is left for him.

I have contacted Halifax who say it's a nominee account and it would cost £25 to get a certificate. Like I say, the balance is very low already so I'd rather avoid this fee. They have said that I could transfer to another registrar free of charge. However they didn't know who the main BP registrar is, but it seems to be Link. 

I don't know how the shares are with Halifax but I guess that's what my friend chose. I also don't understand what the different is between them and a registrar.  

However the issue I now have is that I called Link and they said they can't take nominee accounts, only certificated ones.

So now I am at a loss, how and to whom do I transfer the nominee account free of charge, as suggested by the Halifax chap?

Please help!!!

retiredbanker1

Share certificates are on the way out - all shares will be held digitally quite soon.

Halifax in this context must be Halifax Share Dealing.
Halifax should take an order to sell/transfer from whoever the 'nominee' is - you mention shares being sold previously so is the nominee you?

Vortigern

Take a look at X-O https://www.x-o.co.uk

Their FAQs tell you how to transfer an account from another broker.

There is no holding charge, no inactivity charge and only £5.95 to trade

wmb194

Lornsy said:

I hope someone can de-pickle my head as I am so confused!
I have some BP shares in a Halifax account which a friend gifted to my son aroun 12 years ago (he is now 12, it was for his Christening). A few years back Halifax started charging £36 per year admin fee and because I didn't update my bank details in time, some shares were sold and so the account balance has gone to nearly nothing. I do want to keep hold of what is left for him.

I have contacted Halifax who say it's a nominee account and it would cost £25 to get a certificate. Like I say, the balance is very low already so I'd rather avoid this fee. They have said that I could transfer to another registrar free of charge. However they didn't know who the main BP registrar is, but it seems to be Link. 

I don't know how the shares are with Halifax but I guess that's what my friend chose. I also don't understand what the different is between them and a registrar.  

However the issue I now have is that I called Link and they said they can't take nominee accounts, only certificated ones.

So now I am at a loss, how and to whom do I transfer the nominee account free of charge, as suggested by the Halifax chap?

Please help!!!

You don't transfer to another share registrar - there is only one for each company - you transfer to another stockbroker. With stockbrokers your shares are held in a nominee account.

Open an iWeb account and have the shares transferred to that and sell them for £5 or keep them there for no ongoing fee. It'll be easy because iWeb is... a trading name of Halifax Share Dealing.  When you login to your account there's a transfer link and you follow the instructions. It's really easy.

https://www.iweb-sharedealing.co.uk/