Selftrade -admin fee

[Roon]

Thanks Iain, patience is not one of stronger virtues.

I would have just sat here I think and tried to ignore all this. You have all been a great help and inspiration.

Enjoy the rest of your evenings.

Roon

 

[Skala]

Hi, You don't have to wait for your password from the Halifax if you request the transfer form by phone. I opened a Halifax share dealing account online and received my account number. Then I rang the Halifax share dealing department 08457 22 55 25 and requested that they send me an "application form to transfer investments held by another nominee into a Halifax Share Dealing Account". This arrived the next day. All you need to fill it out is your Halifax share dealing account code and obviously your Selftrade Account details.

 

[dlpSteve]

I need to get my act together and sort this out - I'll look back through this thread and rid the bits about opening the Halifax account!

 

[britchic4]

Obviously I don't know if this information can be trusted, but I just called Selftrade to try to pay £10 for the transfer and a man said all fees have been waived until 1st July so as long as they receive the transfer form by then I won't be charged. If they receive it after that date I will be contacted.

 

[lilacgems23]

ive just been told the same britchic

 

[lilacgems23]

I just tried to do it and as its european shares they cant issue them to you have to be transferred. No way will I get it done by 1st July. really annoyed ive only just heard about this via here

 

[lilacgems23]

That's right, this is how I did it:

1) Open new Sharedealing account with halifax (as an existing online customer my account was opened instantly)

2) Fill in Selftrade Account Closure Form available on-line

3) Fill in Halifax Transfer form

4) Post the forms...and wait

If you need any help then just let me know either through here on through a PM

Do we post it to self trade or halifax? self trade said the new broker does all the leg work

 

[lilacgems23]

pls ignore have sorted this 1 problem lol

 

[Roon]

Hello, still had no communicaion with selftrade. Have now filled out the closure form and envloped it. Have also printed off a transfer form from Halifax, filled in and enveloped. This form does not actually ask for any passwords other than the account code, which I already had from my application. I can therefore send this off? Hope so.

Just hope that Halifax don't charge a fee for transferring.

Doesn't look like the transfers will take place within two weeks but I have given notice to selftrade so, hopefully they cannot charge the annual fee.

We will wait and see.

bye

Roon

 

[lilacgems23]

I checked ysterday Halifax dont charge but Self trade form says they charge £10 but I was told they will waive this fee on the phone (unsure how true this is). Also says on the form unless the fee is in your account they wont be able to process the transfer!

Also, halifax said theres a 2 week cooling off period from date self trade get transfer forms then it takes upto 30 days from the end of the cooling off period. So Im worried now Im going to get charged £40 as obviously it wont be completed by 1st July, only sending off forms today after reading it on here yesterday

 

[Roon]

I checked ysterday Halifax dont charge but Self trade form says they charge £10 but I was told they will waive this fee on the phone (unsure how true this is). Also says on the form unless the fee is in your account they wont be able to process the transfer!

Also, halifax said theres a 2 week cooling off period from date self trade get transfer forms then it takes upto 30 days from the end of the cooling off period. So Im worried now Im going to get charged £40 as obviously it wont be completed by 1st July, only sending off forms today after reading it on here yesterday

Hi, thanks for that. The thing that I was thinking is how can they just take the money if it isn't there. Surely we would need to authorise a payment from a debit card.

I wonder if it is possible to inform your bank to not honour any payments called for by them. Only the 10-00 transfer fee.

 

[diberry]

I set up my Halifax Sharedealing account on Thursday and got my PIN and temporary password in the post today. I followed all the instructions online but it's still saying my account isn't active. So I rang them and they said I've got to send them a copy of my passport or take it into a local branch so they can update me on their CSP system, whatever that might be.
I haven't seen anyone else on here mention this. What a nuisance! I just wanted to set it up, transfer the shares and forget about it!

EDIT - went down to the branch armed with passport and driving licence. She said it was now an active account. Got home - still not active. Rang the helpline, chappy did goodness knows what and assured me it was now active. Tried again and, guess what, still not active. Rang the helpline again - hallelujah, it's working! So I then proceeded to fill in the appropriate form, got to the final screen and it says; "Unfortunately this service is unavailable at the moment. Please try again later." I dread to think how much time and money I've wasted today. God bless Selftrade!!! Why does everything have to be so ****** complicated? (Sorry for doing my Grumpy impression!!!)

 

[Iain Chapman]

Hi,

Just for info. I submitted the paperwork to both Selftrade and Halifax at the same time. With the Selftrade Account Closure form I included a covering letter explain that I was transferring to the Halifax, and asked that they did not proceed until the transfer was completed. I also enclosed a copy of the Halifax paperwork for their reference (and it was mark for there reference only).

Today I've received a message within the Selftrade system telling me that they cannot proceed with the account closure as they need a transfer request from the Halifax.

I did explain on the enclosed letter that I didn't want them to proceed until the transfer was completed.

So - if you are in the process of doing this, some words of advise...

a) Sort out the Halifax (or similar) and get your account running
b) Complete the Halifax (or similar) paperwork and get it submitted.
c) Once the Halifax (or similar) or yourself are able to confirm the transfer has completed THEN submit the account closure forms to Selftrade.

Most importantly during the entire proceed keep an eye on the Messaging system within the SelfTrade system.

I was hoping that Selftrade would have the 'common' sense to read my letter and act accordingly, but it seems not.

Iain.

 

[britchic4]

I was thinking about that Iain, and have held back on the closure form. However I can't check the messaging system as I can't remember my PIN!

 

[Jeccaboos]

Just something I am pondering.

I only have 5 shares and bought them at next to nothing so there is no way I am paying the Selftrade admin fee.

If I were to close my Selftrade account and sell my shares, would Selftrade notify DLP that I am no longer a shareholder, thus rendering my Share Holders Card invalid?

I assume that this would be the case but not 100% sure.

 

[Roon]

Hi, received the temp password today and only just finished with the Halifax on line share dealing. Everything worked, eventually. However, when I looked at the account part, no funds there. I have just telphoned to ask where the 100-00 was and was told that the funds aren't requested until the account is set up. This will now take more days for the funds to arrive in the account.

I sent off both my forms today, one to selftrade to close and one to Halifax to get a transfer.

Not holding my breath for a smooth transition. Might just bury my head in the sand now and hope it will all right itself.

Roon

 

[Roon]

Oh by the way, no one has said anything about passports or ID yet.

 

[Cyrano]

I received my password and details to log online to Halifax Share a/c today

Everything went according to plan until I needed to print out transfer form. Bloody printer had run out of ink
Will hopefully not be filtered out at work and can print the transfer form off tomorrow

 

[diberry]

Changed my mind - problem solved

 

[salandbri]

Just something I am pondering.

I only have 5 shares and bought them at next to nothing so there is no way I am paying the Selftrade admin fee.

If I were to close my Selftrade account and sell my shares, would Selftrade notify DLP that I am no longer a shareholder, thus rendering my Share Holders Card invalid?

I assume that this would be the case but not 100% sure.

No Selftrade would not inform DLP that you had sold your shares. In fact they wouldn't have informed them that you had bought them in the first place. In common with most banks and online stockbrokers Selftrade act as nominee shareholders. This means that although you are the legal owner of the shares
they are registered with Disney in Selftrade's name and Disney are not aware
who the actual owner is.

That said I don't know if the terms & conditions of the shareholders club say that you should inform them if you sell your shares but they would have no way of knowing that they had been sold so would be relying on your honesty. * **