Alternatives to Danske Custody Account

R

Radiowriter

Registered User
Messages
44
Hi all. As a customer of Danske, my custody account will be closed shortly. The bank are transferring the account to Goodbody although I can choose another provider. I'm having trouble trying to find the "fees" page on Goodbody's site.

I'm led to believe that Goodbody's transaction fees a little on the high side for execution only. Any suggestions on a cheaper provider?

Thanks.
 
Transfering Danske Custody Account

I have just received letter from Danske regarding my custody account. They are offering a 'default' transfer of the account to Goodbody Stockbrokers but one can choose to transfer to any other service provider. Regarding fees, the transaction fee structure will remain the same for 12 months, ie minimum €20 per transaction but the annual account maintenance charge will reduce from €80 per annum to €26. What happen after that is unclear but I would expect that Goodbody will apply their standard fee structure which is €32 per transaction and €26 per annum maintenance.

The only alternative option I am aware of is TD Waterhouse (tddirectinvesting.ie - not allowed to post URL!)
"Online trading is a simple flat fee of €20.00, or just €15.00 per trade when you trade more than 10 times a quarter. We charge an Account Management Fee of €15.00 + VAT per quarter but we only charge this on accounts that have not traded or have a cash and/or stock valuation of less than €5,000." Therefore it seems that for a small scale (<€5k) investor with only occasional trades, the Goodbody option is cheaper. However I have read some comments that the Goodbody service is poor and the selection of stocks available is limited.

Any advice / comment would be much appreciated, particularly from anybody with experience using either service.
 
Hi joe53. Thanks for the reply. Since I received the letter, I've had a chance to do some research on options and, for occasional online trades, Goodbody's looks ok especially for the first year.

I've never used their service or platform so any other comments from anyone that has used the service appreciated.
 
Is the Danske custody fee not 20 + 20 = 40 per year??

So the annual fixed fee will drop from 40 to 26, at least for the first year.

And the transaction fee stays at 20 for the first year.
 
You must log in or register to reply here.
Back
Top