Equiniti Shareview

mar7t1n

I have a number of certificated shares recorded with Equiniti Shareview. I want to convert these to digital, and then sell out some of the holdings. Can I use any trading service, and just sign up and send them my certificates and forms, or do I need to go only through Equiniti Shareview? EQ charge 1% to trade so the fees will soon add up. Many others are flat rate. I want to avoid a platform fee, as I plan on keeping them for a few more years. Any recommendations welcome.

eskbanker

https://www.x-o.co.uk/how-to.html#transfer-certs is often mentioned as a low-cost method of dematerialising share certificates.

refluxer

I set up an account with X-O a few years ago and I've sent them a few paper share certificates and sold on two occasions during that time.

They charge a flat fee of £5.95 to sell and there are no ongoing charges or account fees. Their website is basic but functional and I haven't had any issues, so I'll continue to use them.

If your shares are worth a lot, then you might want to consider paying a bit extra for a trackable Royal Mail posting option as the cost of replacing lost certificates can be substantial.

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

DasTechniker

refluxer said:

I set up an account with X-O a few years ago and I've sent them a few paper share certificates and sold on two occasions during that time.

They charge a flat fee of £5.95 to sell and there are no ongoing charges or account fees. Their website is basic but functional and I haven't had any issues, so I'll continue to use them.

If your shares are worth a lot, then you might want to consider paying a bit extra for a trackable Royal Mail posting option as the cost of replacing lost certificates can be substantial.

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

I echo what refluxed said. My online broker was Halifax share trading. Used to send in share certificates by Royal Mail Special Delivery - not cheap but worth it for peace of mind - and five or so days later, the stocks would pop up on screen. Guidance on doing this is on the website.

A little tale…. as refluxer said, the cost of replacing lost certificates can be eye watering. A number of years ago I sold shares over the phone and duly sent off all the paperwork to the stockbroker who shall remain anonymous. The stockbroker then lost the certificates in their own building and I had to do the business of replacing the stocks, all in all at a cost of £230. Needless to say, the broker had to put me right and offer compensation.

mar7t1n

Many thanks. Moving to X-O would save me £100 in comparison to EQ. I noted horror stories of share replacement on all these companies regardless of fees. But cannot image a company that's only going to get £30 out of me being too careful either. Every penny counts, and in one case the saving is more valuable than the shares. 

EQ also hold some CSN shares, what do I need to do in order to move those across?? Will there be a fee to do so making it not worth the switch?

wmb194

mar7t1n said:

Many thanks. Moving to X-O would save me £100 in comparison to EQ. I noted horror stories of share replacement on all these companies regardless of fees. But cannot image a company that's only going to get £30 out of me being too careful either. Every penny counts, and in one case the saving is more valuable than the shares. 

EQ also hold some CSN shares, what do I need to do in order to move those across?? Will there be a fee to do so making it not worth the switch?

You mean CSN (Chesnara) is held electronically, not by certificate? If so, it's very easy and usually free - you need to check EQ's fees - to transfer shares in specie from one stockbroker to another. X-O's website probably has instructions, it's normally just a case of filling in a form.

If you want to save another 95p per trade (5.00 per trade) you could use iWeb, a trading name of Halifax Stock Brokers, and it also has no ongoing account fees.

refluxer

As we've been talking about Equiniti, the OP could be talking about a Corporate Sponsored Nominee scheme ?

If so, charges for transferring shares out of a CSN can vary according to the T&Cs of the CSN for the company concerned, but a £10 fee seems fairly common. Try selecting 'CSN Terms and Conditions' and then your company from the list on this page : https://www.shareview.co.uk/4/Info/Portfolio/default/en/home/help/Pages/Useful-Documents.aspx

mar7t1n

It's Lloyds and I do note a £10 fee from that link refluxer posted so thank you. It does however still stack up, as EQ want to charge £20 minimum fee. The shares are actually in the realms of a charity donation as the fees swallow up a huge chunk of the value.

iWeb is a good spot - they have a usual £100 opening fee, but it's currently being waived.

Mothman

I have just started the process of transferring some Barclays CSN shares from Equiniti to iWeb. Have only just sent the paperwork off so can't say how long the process will take. Equiniti charge £10 for doing the transfer but even with the iWeb dealing fee it should still work out cheaper than selling with Equiniti.

mar7t1n

How do you pay your Equiniti £10 exit fee. Basically I don't want instruct iWeb to move them from Equiniti, and Equiniti to then just sell £10 worth of shares, with a trading fee of £20 to pay their own fees, and then move the rest. Because there won't be much left to sell at that point. A potential £5 saving could become as £35 loss.

Mothman

I paid by bank transfer but you can also do it old skool by cheque. I used Form E, forms can be downloaded from the following link. Payment details are at the bottom of the form.
https://equiniti.com/uk/help-and-support/transferring-shares/transfer-shares#bsssd5zy6y7r5ssmvjm5o7vv3c:bsssd6b67ntijnxy442brwx7kg