Moving Shares from Equiniti

NewPieman

Hi all

I had some shares held with HL and am transferring them over to Trading212 due to the fees change.

I also have some old Centrica / Nat Grid / Shell held with Equiniti.....a mixture of Paper and CSN. I also have enrolled in the reinvestment programmes of some of these.

Are there any advantages or disadvantages of transferring them under one "provider", I had a look on Equiniti and there's not much info on Transferring Away from them.....

I had a look on Trading212 and Equiniti does come up as an option for Transfering In.

Thanks

FrugaiMacDugal

Maybe this will help.

wmb194

https://forums.moneysavingexpert.com/discussion/6657752/moving-shares-from-equiniti

Certificates will be going away and there aren't many brokers that'll accept them now. Having said that a good brokerage account that will accept them is Scottish Widows Share Dealing - formerly iWeb and a brand of Halifax Share Dealing which is ultimately owned by Lloyds Banking Group. It has no ongoing account fees and charges £5 commission per trade. You could lodge them with SW and then transfer them to T212.

The good thing about getting away from Equiniti is that your executors won't have to go through the ordeal of dealing with it…

Having a single broker makes life easier but it introduces a single point of failure if e.g., the broker has technical issues or freezes your account for some reason. I've seen a few posts where people say Trading212 froze their accounts the second their passport expired and they couldn't immediately provide a valid one so watch out for that. The same with current accounts with different banking groups, I'd have at least two brokers.

etienneg

I have just moved some Lloyds shares (from the days when Trustee Savings Bank was privatised!) from Equiniti to Scottish Widows. Following their online instructions I sent the certificates off to SW with completed transfer and crest forms. I got an email to say they had been received. Exactly a week later I got a second email to say the process was finished, and I can now see the shares in my online account. I was quite amazed at how easy it was.

As wmb194 said, no ongoing charges and £5 charge to sell (not a good time whilst the war in Iran rages). Equiniti wanted £48 to sell plus £4.99 faster payment charge to send me the money. I'm glad to be rid of them.

Sorry, I have no experience of Trading212.

NewPieman

Thanks for those comments, I was thinking of getting Equiniti to put the paper ones into CSN then move to T212.....

But then I think about getting Equiniti to do the move to digital and I go cold.....

The option to move to SW is a good one and I'll look at that.....thank you for the example.

I remember when my mum died and we had to allocate her shares (paper) to family.....I did register a formal complaint against Equiniti, they were woeful!