Selftrade -admin fee

[cap'njack.]

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

I had considered that...selling the shares I have now with Self Trade and buying new shares though the Halifax instead...would have been cheaper than worrying that I'm going to be charged £40 come August!

 

[Skala]

I've got my Halifax account sorted out too- the guys in the Halifax share department must be wondering what's going on with this rush of new accounts and transfer of Disney shares- you should have got some commission from them Cap'n for all the new business . Let's home this is the last of our Selftrade shares saga.

 

[Mrs Mickey]

Well - I think I am finally on my way to being sorted. Spoke to a really helpful man yesterday at Selftrade who said they could definately send me a paper cert for £10.
Same very kind helpful man rang back today to say he had got it all wrong and no they couldn't - I had gathered this by now from you guys.

Spoke to Halifax today and have started to get my new account sorted.

Just got to hope I get my shares transferred over ok. I now have absolutely no faith in Selftrade how ever kind and helpful they appear.

Thanks again to everyone on here.

JC

 

[jillrobinson]

I'm probably being very dim here and I haven't had time to check anything out other than this thread, but I don't understand the bit about £100 with Halifax - where do I have to put the £100 ?

 

[cap'njack.]

I'm probably being very dim here and I haven't had time to check anything out other than this thread, but I don't understand the bit about £100 with Halifax - where do I have to put the £100 ?

The £100 has to go into your new sharedealing account...you can then transfer it out as soon as your account has been opened.

I had to do the same thing when I opened another account with Halifax.

 

[jillrobinson]

That makes sense, thankyou John.

 

[Cyrano]

Keeping this bumped for everyone

 

[Roon]

How is everyone getting on with this. I cannot get through by phone and wait half an hour and then give up. No one is answering emails.

I know the charge is to be in effect from 1st July, but surely they cannot just do this without anyone signing a paper or something. We took our shares out and asked the question what are the fees. We were all told flat fee £12-00, are they allowed to change this for old customers. I think it should just be for new customers. The google page still advertises flat rate £12-00.

Terrible this. It's giving me stress.

Can you all post again how you are getting on.

Happiness to all
Roon

 

[Rosie]

Roon I'm sure you are correct. Please don't let this worry you too much - hopefully the most you would have to pay out is an extra £10.
I have sent my complaint letter today (recorded delivery) and I have asked them to waive the exit fee.
I will definitely post here when I have any information. I would suggest you also complain. I have sent an official complaint to Selftrade, complained via Consumer direct (who are sending my complaint to the relevant Tading Standards office) and I will also ask the Financial Ombudsman to take up my case. If I have any time left I may also contact the Sunday Times.
By putting pressure on Selftrade i am sure we can prove this is unfair and if necessary prove it is unlawful.

 

[britchic4]

Only clicked on this thread and now see I am going to have to read it properly since I have shares through Selftrade and didn't know anything was going on!

 

[manxtatt2]

i got a letter today re the charge

even tho i opened an account , i never got round to buying the shares , yet they want to charge , hmmmmmm i dont think so

i tried ringing today to close my account but no luck getting through
i emailed and got a reply back saying i need to download a form and send it back

i dont have a printer set up so i emailed back and asked them to send me one

 

[eeyorefanuk]

Roon, I know what you mean, I feel stressed re this too !

It took a lot for me to sort the shares out and when all sorted, gave great sigh of relief.

How can a company only 2-3 months ago say apart from the initial £12.50 setting up fee there is no other fee, suddenly charge £40 per year, especially when only £70 paid !!!

To top it all I only got my letter today.

I think I will ring consumer direct tomorrow (tried tonight after Rosie said but shut). They are very good and will tell you what they think and how to action it.

I havent set up my halifax acc yet - just havent got the energy but know have to and soon .

 

[Belle's World]

I agree this is causing a lot of stress. I have read we have August to take our shares out of Self Trade. I opened a Halifax account and it can have taken no longer than 5 mins so hopefully this mess will all be over soon!

 

[cap'njack.]

Just to update...I have opened my Halifax Account (seriously took about 5 minutes and much easier than it was with Selftrade)

I have sent off my Termination Form to Selftrade along with a letter stating that I want my shares transferred to another supplier and also my Transfer Form to Halifax by 1st Class Signed for post yesterday.

I have also put £10 into my Selftrade Account for the transfer fee.

Currently writing my complain letter to Selftrade (which will be sent after the transfer has happened and the account closed down)

Hope everyone else is managing to get this fiasco sorted out and I would suggest Halifax to anyone...it really is so easy especially if you already have an account with them

 

[Iain Chapman]

Hi,

Can someone confirm the company name/code that you need to put into the Halifax Broker Transfer form please.

I'm assuming that the code is EDL - which gives you the company EURO DISNEY SCA EUR1.

Is this the same one that everyone else used?.

Thanks

Iain

 

[cap'njack.]

Hi,

Can someone confirm the company name/code that you need to put into the Halifax Broker Transfer form please.

I'm assuming that the code is EDL - which gives you the company EURO DISNEY SCA EUR1.

Is this the same one that everyone else used?.

Thanks

Iain

Yep, that's the one

 

[Iain Chapman]

Thanks cap'n!

 

[britchic4]

Sorry if this is a thick question, am suffering from severe lack of sleep at the moment, but have I missed a link to the cancellation and transfer forms?

 

[Iain Chapman]

Hi,

The Selftrade account closure form can be located here -> http://www.selftrade.co.uk/forms/pdf/F11.pdf

The Halifax transfer 'form' can be located within the Halifax Online system.

Once you are into the Halifax Online system, select your Share Dealing account.

Once in your Share Dealing account select 'Account Management' and then 'Transfer to Us'. Here you can access an 'online' form which you complete - print and then post to Halifax.

Iain

 

[britchic4]

Hi,

The Selftrade account closure form can be located here -> http://www.selftrade.co.uk/forms/pdf/F11.pdf

The Halifax transfer 'form' can be located within the Halifax Online system.

Once you are into the Halifax Online system, select your Share Dealing account.

Once in your Share Dealing account select 'Account Management' and then 'Transfer to Us'. Here you can access an 'online' form which you complete - print and then post to Halifax.

Iain

Thankyou Iain, you can't imagine how helpful that feels at the moment when my head hurts so much!