Selftrade -admin fee

[pyebibby]

Result! I left my number for Selftrade to call me back and a nice man just called me, we have arranged for my share certificate to be sent directly to me for a fee of £10 (not particularly happy with that but that can be fought over once I have the certificate ) and it should be with me within 10 days.

Think I'll just buy a nice little frame and keep it in the hallway rather than risk all of this again

I have just phoned Selftrade again and again i have been told i cannot be issued with a share certificate as it is international stock not UK. Did you confirm that it was French shares when you spoke to them?
I am now trying to open a Halifax share dealing account and transfer them there. Will still cost £10 to transfer, but i am assuming that is less than the dealing cost for selling the shares.


Jackie

 

[cap'njack.]

I have just phoned Selftrade again and again i have been told i cannot be issued with a share certificate as it is international stock not UK. Did you confirm that it was French shares when you spoke to them?
I am now trying to open a Halifax share dealing account and transfer them there. Will still cost £10 to transfer, but i am assuming that is less than the dealing cost for selling the shares.


Jackie

Yes I did, they had all the information there as well and said that it was Eurodisney shares when I asked about it.

Seem's to be a little confusion though as some are being told that they can't have the certificate. Guess I'll only really know in the next 7 days

 

[Belle's World]

Hi,

I just rang as above for £10 the cert is being sent to me and i just have to fill in a form to close my account.

Ro

 

[jillrobinson]

I almost didn't read this thread, thank goodness I did! Another whose had no notification.

Will have to sort this out when I get home later, just been into HSBC, our bank and to quote their own advertising "World's Local Bank" and they only trade on the UK/US markets.


Looks like I'll be going down the £10 paper shares and close the account route, depending on which Customer Service advisor I get by the sound of it, although I was hoping to increase my shares before I need to renew my membership in March.

Thanks to OP for posting and everyone else for info and advice.
Rosie I like your letter and hope you won't mind if I use something similar, I don't know whether anything useful will be gained from it, but I'll certainly feel a lot better.

 

[Rosie]

I almost didn't read this thread, thank goodness I did! Another whose had no notification.

Will have to sort this out when I get home later, just been into HSBC, our bank and to quote their own advertising "World's Local Bank" and they only trade on the UK/US markets.


Looks like I'll be going down the £10 paper shares and close the account route, depending on which Customer Service advisor I get by the sound of it, although I was hoping to increase my shares before I need to renew my membership in March.

Thanks to OP for posting and everyone else for info and advice.
Rosie I like your letter and hope you won't mind if I use something similar, I don't know whether anything useful will be gained from it, but I'll certainly feel a lot better.

By all means use any bits of it that seem relevant. I have no problem with any business charging fees and tbh I'm amazed we all got this free for as long as we did BUT there are rules and regs to follow when changing T&Cs and I want them to give us time to sort ourselves out.

 

[disneyangel]

I am not really against them introducing a charge either but I think the amount is extreme .They maybe culd stagger it depending on how much they are holding and the notoce period is ridiculously short

 

[Iain Chapman]

Just been on the phone to Selftrade - the person I spoke says that as it is not a UK stock that they cannot issue a certificate for it.

He checked this with the relevant department.

It seems that left hand/right hand of Selftrade are giving different answers.

These leaves me with 3 choices:

a) Pay the £40 fee....

b) Sales the Shares - take the money and then in my leisure repurchase elsewhere.

c) Transfer the shares.

If I was transferring Halifax looks like my choice of new provider - especially as I've already got Banking accounts with them.

Incidently I think earlier in the thread someone said that Halifax charge £11.95 per transaction. I think if you looking to make a non-UK transaction (which any trading in Euro Disney SCA would be) this is incorrect - the price would be £17.50 based on this page -> http://www.halifax.co.uk/sharedealing/charges/share_dealing_charges.asp.

I assume I'm looking at the correct product from Halifax - Halifax Share Dealing Account?.

Regards

Iain

 

[eeyorefanuk]

Right, bear with me, Are you saying

If I pay for share certificate
And
Close the account.

I will not have to pay anything else to self trade
And
I will still be able to renew every two years with disney using the same certificate

Sorry to be dur brain, but my head is still in disney at moment and cannot get back to the real world

I feel sad I was so excited to be a shareholder after all the hassle of setting it up and now this.

I have not even received a letter from self trade saying about the fees.

I know when I bought mine they sent me a hard copy in the post but do not know if this was the certificate (have to look it out and quick). This was what I sent to disney to prove had bought the shares

 

[eeyorefanuk]

Hi,

Well rang self trade and they will NOT give me certificate - say because not UK - he went away and double checked and no.

He thinks maybe hargreaves landsdowne are free but transfer fee is £10

He gave me two options.

sell shares (which do not want to do, just want perks from disney)

or

move to another broker which do not charge fee.

Sounded like they have had one of those weeks with this news coming out !

 

[eeyorefanuk]

Hi,

Rang Halifax

You can set up a share dealing account on line - www.halifax-online.co.uk. once done they can send out transfer papers etc.

they do not charge annual fee and no charge to transfer to them.

only time they charge is if buy or sell.

also rang self trade again and spoke to someone else, just to double check.

they def cannot send out share certificates.

 

[Skala]

Thank you all for the info - I too had no idea about this new account fee- and like many of you have recently purchased shares (hoping to go again to DLRP in Dec). I've just got off the phone with Selftrade. At first the "advisor" said I could have a paper certificate for a 10 pound fee and then close the account. I asked him if he was sure as the stock was Euro Disney - I was then left hanging on the phone for 10 minutes while he checked. He then said that they could not issue a certificate for foreign stock. Basically he confirmed what previous poster Iain said, that the options were to sell the stock, transfer to another stockbroker or pay the 40 pounds. I told him that I knew of others who had paid 10 pounds for a paper certificate to be sent- what about them? He said they cannot issue a certificate, any such certificate is invalid and probably the mistake would be noticed and the clients contacted by telephone. So be advised as we know communication isn't Selftrade's thing- if you've paid for a certificate to be sent call them and sort it out.

 

[jillrobinson]

Hi,

Rang Halifax

You can set up a share dealing account on line - www.halifax-online.co.uk. once done they can send out transfer papers etc.

they do not charge annual fee and no charge to transfer to them.

only time they charge is if buy or sell.

also rang self trade again and spoke to someone else, just to double check.

they def cannot send out share certificates.

Do you know if anyone can set up a share account with Halifax or do you need to hold an account with them ?

 

[eeyorefanuk]

Not sure - sorry.

One thing he did say was that in the new account you have to put £100 but after all sorted etc you can take back out.

 

[cap'njack.]

This is turning into a joke. I'm currently on the phone with Selftrade and they are trying to figure out if I am allowed the certificate or not!!

Think I'm going to open a Halifax Sharetrading Account just incase!

 

[eeyorefanuk]

I have rung and spoke to two different people and they both said no - one after checking with someone else - what a nightmare - how can they warrant £40 per year fee for people who probably only paid out £70 in total

let us know how you get on

 

[cap'njack.]

Well after waiting for 20 minutes and then being offered a call back I have just come off of the phone with them (thank god it was work's phonebill and not mine)

Ok...they are not able to offer certificates on any non-UK stock. Those who have been told that they can have a certificate and charged for it will be called back today apologising for the mistake and offering them a refund.

That only leaves transferring to another holder or selling the shares.

I have asked when the cut-off for avoiding the payment is and was told that as long as they shares have left your selftrade account by the end of August you will not be charged, however if the trade takes you over the end of August you will be charged the fee.

I have also been told that the best thing to do is to fill in the exchange form for your new holder and the closure of account form for Selftrade at the same time and putting a covering note with your Selftrade closure letter stating that you are transferring to another company giving the name of the company and maybe also a copy of the exchange form so that Selftrade know that you want the account closed after the exchange has taken place.

 

[scampbunny]

for those that asked - u dont need an account with halifax to open the share dealing account.
i had a long chat and prob asked the same question over and over just to make sure, and have set mine up.
i am def gonna do all the paperwork asap and send it to selftrade so they know i am transfering - but thanks john for lettin gus know we have a bit more time to get the shares out - am sure that, even with a 6 wk transfer we shud all get out share out in time!!!

 

[pyebibby]

Cap'nJack
Thats exactly what i am going to do. Opened the Halifax online sharedealing account yesterday, just waiting for password to come in the post and then i can send off transfer forms.

Do you think Halifax will bring in some kind of annual charge with all these eurodisney shares coming to them? I will be paying nothing to Halifax for them holding my shares.

Perhaps i should worry about that when it happens!!

Jackie

 

[cap'njack.]

Wow...that was easy!

I guess as I'm a Halifax customer it made it so easy. Logged into my online banking, within 5 minutes I had a share dealing account opened up with them. I have now filled in the transfer form for the Halifax and filled in the account closure form for Self Turd...now just have to wait for the transfer to take place!!

 

[Belle's World]

Hi,

As yet Self Trade have not bothered to ring to tell me that i cannot have my certificate which btw i think is ridiculous, it belongs to me why shouldn't i have it.

Anyway thanks to everyone who has looked into this. I have opened a Halifax account, printed off a transfer document and printed off a Self Trade closure form.

Really think self trade are taking the pee, £40 when i only paid £52 for my shares, it would be cheaper to lose the shares close the account and just buy more every 2 years to get a new shareholders card. Not that i am going to do that as i love my shares!

Ro