Best way to sell stock certificates
You are using an outdated browser. Please upgrade your browser or activate Google Chrome Frame to improve your experience. In many cases, these holdings come from the privatisation and demutualisation programmes of the Eighties and Nineties.
However, investors looking for a low-cost service through which to sell modest paper shareholdings will find this a tough task. To start, let's check the share-dealing charges levied by some of the UK's biggest high-street banks and building societies. The following table is sorted from lowest to highest minimum dealing fees for paper-based trading by telephone or post, whichever is cheaper:.
As you can see, Nationwide, HSBC, Santander and NatWest no longer offer their own certificated share-dealing service, so investors cannot deal in paper certificates at these big banks, whether in person or by telephone.
Barclays in also stopped offering the service but recommends The Share Centre which pays a commission to Barclays when you trade. At the other end of the scale, Halifax charges 1.
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Now let's take a look at the cheapest certificated share-dealing services from six leading stockbrokers:. Track your investments online and see how they improve your net worth! In this modern world of high-speed, low-cost online share-trading, dealing using old-fashioned share certificates has become prohibitively expensive. Indeed, the EU has plans to completely phase out paper certificates in favour of electronic registration by at the latest.
However, when you possess paper share certificates, your name appears on the company's share register. This allows you to exercise your voting rights, as well as receiving all dividends and correspondence direct from the firm. These benefits are particularly important to 'activist' investors keen to play a part in a company's future.
If you want to get the cheapest deal and aren't in a hurry, the best way to get rid of paper shareholdings is to transfer them into an online nominee account. The best brokers make no charge for these transfers, so you can turn paper certificates into electronic holdings at no cost and sell them later to bank the proceeds. Want to keep an eye on your investments and see how they contribute to your overall net worth?
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