NIB Custody Accounts for share dealing

[zag]

Does anyone have any comments on the usability of the NIB online banking facility for share dealing ? I was talking to someone in NIB the other day and after they lowered my guard they went into sales mode and started pushing their custody account (which I seem to have opened some time back as part of a loan) as an easy means to buy and sell shares. As you might expect from a sale person . . . their account is soooooo much better than the opposition, it can do things BOI & AIB can't, etc . . .

I looked at their charges and they seem reasonable enough - I think it was €50 per transaction and 1.25% plus stamp duty.

I've been threatening to start investing (yes, it's long term . . . yes, I know about the impact of transaction costs on holding for a short period) one of these days but have never got around to it.

Since I already have this account set up I figure it might be as good a time as any to start using it for share buying.

z

 

[twofor1]

I'm a small novice investor with a NIB Custody A/c. For me anyway I think It's greath,very easy to use no problems. I think the fees you quote are for phone transactions, online it's .75% up to €15,000 ( Min €20) + duty,no annual charge if you have free banking. Hard to beat.

 

[Olympian]

Been using the NIB facility for some time now. Once you have internet banking it's pretty easy to use. Haven't used others so can't compare.

One downside I can see is it doesn't offer real time quotes. To ISEQ they are delayed by some time (15 / 20 minutes maybe). For the UK prices seem to be from the pervious day. Research facilities are minimal as well.

For purchases on the ISEQ the minimum charge is 20€ plus stamp duty. They also have a yearly maintenance fee but it's waived depending on the type of current account you have.

I'm not sure about charges on other eurozone exchanges. I have bought shares in the UK and the exchange rate was not very favourable. It was a lesson for me and if buying on foreign exchanges I would ask their helpdesk of the charges in future before committing.

I'm not sure if you will be able to purchase ETFs that are traded in Europe. I can see prices but it's not possible to buy them via the internet. It may be possible via their phone facility.

Overall I recommend it.