Selling Australian Shares

Selling Australian Shares

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Discussion

towser

Original Poster:

920 posts

211 months

Saturday 6th September 2014
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Hi - I've a chunk of shares in an Aus company ( bought through a work share save scheme ). Anyone know of a decent broker who can sell these for me?

jfbrin

415 posts

172 months

Sunday 7th September 2014
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Have a look at T D Waterhouse who offer a relatively low cost overseas equity dealing service.

No connection etc etc.

http://www.tddirectinvesting.co.uk


foliedouce

3,067 posts

231 months

Wednesday 10th September 2014
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I hold some Aussie shares in my Commsec account. https://www.commsec.com.au

Opened it when I lived in Oz though so not sure if you can open one as a non resident, worth enquiring though.


towser

Original Poster:

920 posts

211 months

Wednesday 10th September 2014
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Thanks guys.....I guess I'm just wanting to execute a sale - not overly bothered about establishing a trading account.

It doesn't appear that life is as simple as that though :-(

towser

Original Poster:

920 posts

211 months

Wednesday 10th September 2014
quotequote all
foliedouce said:
I hold some Aussie shares in my Commsec account. https://www.commsec.com.au

Opened it when I lived in Oz though so not sure if you can open one as a non resident, worth enquiring though.

Just had a look - fails the account opening process at address validation.....worth a try though.....it seems almost impossible to do this.

Only two options I've found are :

1) Trading Account with TD Direct, however to transfer shares into this account takes at least 6 weeks and costs £150. Timing is ok, the fee is a bit hard to swallow if I'm being honest.

2) A service in Aus called sellmyshares seem to be the best bet. However proof of ID requires a Notary ( or consulate official ). It might just be the best and quickest route.

Ta....

jfbrin

415 posts

172 months

Wednesday 10th September 2014
quotequote all
towser said:
Thanks guys.....I guess I'm just wanting to execute a sale - not overly bothered about establishing a trading account.

It doesn't appear that life is as simple as that though :-(
Wherever you go, you will have to open an account to sell your shares.
The broker has to deliver your shares to an Aussie agent in good order to settle the sale in Australia.
It does involve labour and can be awkward which is why many brokers avoid this service or discourage it by applying higher charges.
Good luck with your enquiries.

Slowped

184 posts

146 months

Thursday 11th September 2014
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How are you holding the shares? Do you have a statement with the SRN number on? (Shareholder reference number)

Slowped

184 posts

146 months

Thursday 11th September 2014
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Also, which company are the shares in? Fell free to PM me if you would prefer.

towser

Original Poster:

920 posts

211 months

Thursday 11th September 2014
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Slowped said:
Also, which company are the shares in? Fell free to PM me if you would prefer.
Hi - yeah I have SRN. Shares are in NAB - bought through share save scheme - don't amount to much but enough for me to be getting irritated by the fact they're "stuck" in Aus.

They are currently being held by a company called Computershare. They previously allowed the sale of shares via their website for non-Aus citizens / NAB employees but this has changed since I left the organisation.

Slowped

184 posts

146 months

Monday 15th September 2014
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towser said:
Hi - yeah I have SRN. Shares are in NAB - bought through share save scheme - don't amount to much but enough for me to be getting irritated by the fact they're "stuck" in Aus.

They are currently being held by a company called Computershare. They previously allowed the sale of shares via their website for non-Aus citizens / NAB employees but this has changed since I left the organisation.
I should be able to help you then, I'll send you a email shortly.