Getting share certificates into CREST
Discussion
While undertaking the annual Mad April review I realised that I have a number of shareholdings in paper form - a total of over 80 certificates. Obviously this is a bit daft so I'm starting to look at getting them into a nominee account (probably HL) & during this found one certificate is missing. I'm pretty sure it's never been received as I keep the certificates & the tax voucher separately & I have neither. I called Equiniti & they insist it's not their problem despite the fact that they can't prove it was delivered but that I can get a replacement certificate for around £65.
This in itself is rapacious given that it's almost more than the value of the shares but it also raises the issue of insuring the certificates when I send them off to the nominee. At a replacement cost of £65 per certificate I'm looking at having to insure them for around £5200 in case they go missing & some might even need an indemnity form signed by a bank.
Is there any mechanism where by I can either get them into a nominee account without posting them off? Maybe I could do it by taking them into a bank or building society? Any pointers would be useful.
This in itself is rapacious given that it's almost more than the value of the shares but it also raises the issue of insuring the certificates when I send them off to the nominee. At a replacement cost of £65 per certificate I'm looking at having to insure them for around £5200 in case they go missing & some might even need an indemnity form signed by a bank.
Is there any mechanism where by I can either get them into a nominee account without posting them off? Maybe I could do it by taking them into a bank or building society? Any pointers would be useful.
anonymous said:
[redacted]
Yes, but they still need insuring for £65 each which adds up & in fact Special Delivery only goes up to £2500. Of course I can split them up but I just wondered if there was any other way. Frankly I was gobsmacked at being quoted £65 for a replacement certificate given the shares themselves are only worth around £115.Mr Pointy said:
While undertaking the annual Mad April review I realised that I have a number of shareholdings in paper form - a total of over 80 certificates. Obviously this is a bit daft so I'm starting to look at getting them into a nominee account (probably HL) & during this found one certificate is missing. I'm pretty sure it's never been received as I keep the certificates & the tax voucher separately & I have neither. I called Equiniti & they insist it's not their problem despite the fact that they can't prove it was delivered but that I can get a replacement certificate for around £65.
This in itself is rapacious given that it's almost more than the value of the shares but it also raises the issue of insuring the certificates when I send them off to the nominee. At a replacement cost of £65 per certificate I'm looking at having to insure them for around £5200 in case they go missing & some might even need an indemnity form signed by a bank.
Is there any mechanism where by I can either get them into a nominee account without posting them off? Maybe I could do it by taking them into a bank or building society? Any pointers would be useful.
It’s some time since work needed me to be up to speed with physical execution but what crosses my mind is to find a broker that is local to you and get them to put the holdings into Crest? Are they going to charge if you’re a new customer? Does their cost to sell matternif you’re aiming to sit on the holdings? This in itself is rapacious given that it's almost more than the value of the shares but it also raises the issue of insuring the certificates when I send them off to the nominee. At a replacement cost of £65 per certificate I'm looking at having to insure them for around £5200 in case they go missing & some might even need an indemnity form signed by a bank.
Is there any mechanism where by I can either get them into a nominee account without posting them off? Maybe I could do it by taking them into a bank or building society? Any pointers would be useful.
Or if you’re considering HL because you want to invest in other products then do you want to bother moving the holdings to Crest and rather just sell them?
DonkeyApple said:
It’s some time since work needed me to be up to speed with physical execution but what crosses my mind is to find a broker that is local to you and get them to put the holdings into Crest? Are they going to charge if you’re a new customer? Does their cost to sell matter if you’re aiming to sit on the holdings?
Or if you’re considering HL because you want to invest in other products then do you want to bother moving the holdings to Crest and rather just sell them?
Yes, finding someone local I can physically walk into would be the sort of thing I was after. I picked HL as I have an account with them already & I'm not going to be be trading very often so it wasn't too advantageous to save £6 a time by going with X-O or the like. My latest quest is to see if the Registrars will consolidate 35 separate share documents into one without me sending them in but I need to wait five days for an email response.Or if you’re considering HL because you want to invest in other products then do you want to bother moving the holdings to Crest and rather just sell them?
I've some of them since we were wandering around telling Sid if we saw him.
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