# AIB Share dealing



## amh (20 Aug 2013)

Is the AIB Share dealing online account a good way for a first time buyer enter the market?

I would like to buy some shares in BOI, Caterpillar and CRH. Also possibly coffee....

These would be to hold onto for the long term 5+ years.

What do you think of this and any recommendations re coffee companies?

Thanks in advance of any suggestions /recommendations

AMH


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## mercman (20 Aug 2013)

This appears a very expensive way of entering the stock market. Why don't you use a stockbroker or alternatively find an online broker.

My own opinion is that Banks should be left to do banking business. Nothing else. Let's face it, they have made a complete hash of everything else.

There are two types of trades you can enact upon. Straight Portfolio share purchase or execution only business. There are enough stockbroking firms in Dublin and with branches throughout the country, that must be able to suit your requirements.


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## RichInSpirit (20 Aug 2013)

I've some shares originally with the goodbody online service through Aib. Some other company bought out goodbody but you can still trade through the Aib online service, i think. 
I haven't looked at it in ages.
I'm now a spread betting fan. For 3 or 4 years now and i find it miles better.


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## mercman (21 Aug 2013)

RichInSpirit, Goodbodys was bought be FEXCO in 2010 from AIB. As far as I know they run quite a good service. I do not know their Commission rates but like everything financial in Ireland, it up to each person to get the best deal.

Personally I use Cantors / Dolmens who are quite good. I don't do spread betting, but I do know people who do and they have made a fortune (literally) from it.


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## The Ghoul (21 Aug 2013)

I was also thinking of opening an AIB share dealing account - would such an account be any "safer" in terms of the institution failing than alternatives from stockbrokers or online brokers.

Secondly, I'm trying to work out exactly how much it would cost to purchase then sell say, 30k worth of Irish shares using the AIB account. From AIB's FAQ I think the following charges would apply:

1) 26 euro annual account maintenance fee

2) Purchase
1.25% commission on first 25k = 312.5
0.5% commission on the rest = 25
1% stamp duty on Irish shares = 300

3) Sale (assuming no capital gain)
1.25% commission on first 25k = 312.5
0.5% commission on the rest = 25
No stamp duty on sales

So, if I bought 30k of shares and sold them for 30k a year later it would cost me 1001 quid? Have I left out any charges? 

if this same transaction was carried out using a stockbroker or online broker would it cost a lot (hundreds?) less?


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## whiskey1 (21 Aug 2013)

The Ghoul said:


> Have I left out any charges?
> 
> if this same transaction was carried out using a stockbroker or online broker would it cost a lot (hundreds?) less?



I bought shares recently and I paid 60 euro for the share cert. Maybe you have your cert electronically with the stockbroker?


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## mercman (21 Aug 2013)

The Ghoul said:


> if this same transaction was carried out using a stockbroker or online broker would it cost a lot (hundreds?) less?



If you had of used an online broker (selftrade.co.uk) you would have saved a considerable amount, as they charge £12.50 per trade, plus the stamp duty.


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## Steven Barrett (12 Sep 2013)

amh said:


> Is the AIB Share dealing online account a good way for a first time buyer enter the market?
> 
> I would like to buy some shares in BOI, Caterpillar and CRH. Also possibly coffee....
> 
> ...



Banks and builders? Is it 2005 all over again? 

I'd be careful investing in loss making companies such as Bank of Ireland. Bank of Bangkok would be a better investment than Bank of Ireland. 

I am quite happy to pay a management fee and let someone else do the research and make the investment decisions for me. Remember, anything you read in the papers has probably been priced in 6 months ago. Professionals read everything there is to know about a company before deciding whether to buy or not. The average investor takes a punt.


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