Share dealing with Divi reinvest
Discussion
We prefer to take shares rather than cash for Divis.
Most of our shares we have in Cert form due to the selftrade fallout. Many firms run DRIP/SCRIP, some are free whilst others charge a fee.
Recently bought shares are held in our Halifax SD account who reinvest the Divis in buying more shares but charge 2% commission for this.
What share dealing sites have 1/ reasonable charges for trading and 2/ Charge less than 2% for Divi reinvestment?
Thanks
Most of our shares we have in Cert form due to the selftrade fallout. Many firms run DRIP/SCRIP, some are free whilst others charge a fee.
Recently bought shares are held in our Halifax SD account who reinvest the Divis in buying more shares but charge 2% commission for this.
What share dealing sites have 1/ reasonable charges for trading and 2/ Charge less than 2% for Divi reinvestment?
Thanks
Thanks for headsup - I hadn't noticed Halifax sneaking the charge from 1% to 2%. It is still capped at £11.95 (i.e. an ordinary trade) though.
Wouldn't it be best to consider how many lines of stock you're transferring between brokers as the transfer will incur charges of ~£10 per line.
The cost of this upfront may erode any benefits saved from 1% less taken from dividends?
Wouldn't it be best to consider how many lines of stock you're transferring between brokers as the transfer will incur charges of ~£10 per line.
The cost of this upfront may erode any benefits saved from 1% less taken from dividends?
I dont have mine set to automatic ...you can soon end up with hundreds of pounds of extra charges per year for relatively small buys
I dont want to pay a tenner to buy £200 of shares with dividends
I usually wait until the dividends are in £1K or more in my account before I choose what to buy at a particular time
just my way of minimising charges, if your dividends are into the many thousands per year, I guess a £7 or £10 buy every 6 months isnt so much of an issue
I dont want to pay a tenner to buy £200 of shares with dividends
I usually wait until the dividends are in £1K or more in my account before I choose what to buy at a particular time
just my way of minimising charges, if your dividends are into the many thousands per year, I guess a £7 or £10 buy every 6 months isnt so much of an issue
bogie said:
I dont want to pay a tenner to buy £200 of shares with dividends
As I said above, I'm with Barclays and they only charge 1%. I had an approx £250 dividend the other day, they charged about £2.50 plus stamp duty. Very reasonable and about the same as waiting for the cash to build to £1000 and paying £12.95 plus SDRTNot a huge problem at the moment as my large share holdings (£3K+) I have in certificate form. BP and RSA for example offer the service FOC where as Travis Perkins charge a £2.50 fee.
Barclays have a 1% charge but a min £1, whereas Halifax do charge 2% but have no min charge. When I buy most of my shares they do only tend to be £1-1.5K worth
Barclays have a 1% charge but a min £1, whereas Halifax do charge 2% but have no min charge. When I buy most of my shares they do only tend to be £1-1.5K worth
afrochicken said:
bogie said:
I dont want to pay a tenner to buy £200 of shares with dividends
As I said above, I'm with Barclays and they only charge 1%. I had an approx £250 dividend the other day, they charged about £2.50 plus stamp duty. Very reasonable and about the same as waiting for the cash to build to £1000 and paying £12.95 plus SDRTso not as bad as it used to be, although still twice what Barclays are charging.....
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