Selling BOI shares

S

savanna

New Member
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3
I have 134 Bank of Ireland shares which are valued at approx 1300 euro. Computershare won't sell them and I was advised to contact Goodbodys or Davys. This is the response from Goodbodys
'Unfortunately, Goodbody cannot facilitate the opening of accounts that do not meet the minimum initial investment requirement of EUR 5,000.00.'
I received no response from Davys. How can my right to sell a stock in a Company which is still trading just be taken away from me with no action from the Financial Regulator.
 
It's a tough one.

On the one hand, you should be able to sell your shares.

On the other, it's reasonable for a stockbroker to have a minimum value.

But maybe they should have a minimum transaction fee of €500 say, and then it would be worth their while selling your shares for you.
 
It seems reasonable to me that any company sets the terms and conditions that it will do business on. While it might limit their client base that's ultimately their choice.

After that it's up to potential customers to decide if they want to avail of those services under those very T&C's.

If you're not happy with their offering why not look elsewhere? At a minimum if follow up with Davy's again. Are you limited to just the two Irish brokers?

savanna said:
How can my right to sell a stock in a Company which is still trading just be taken away from me with no action from the Financial Regulator.
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What did the Regulator say when you contacted them?
 
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I intend to contact the regulator. Goodbody and Davy are the only options Computershare gave me when I contacted them. They didnt give me any other option to sell them. If anybody knows somewhere else I can sell them that would be great.
 
So as Clubman has pointed out, the shares are now in electronic form rather than paper form.

This should make it easier to move them to one of the online brokers who will sell them for you.
 
savanna said:
I have them in electronic form. What online broker do you think would do it
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If they are electronic, then you can transfer them to any online broker and sell them. I have done this using Degiro.
 
AJAM said:
If they are electronic, then you can transfer them to any online broker and sell them. I have done this using Degiro.
Click to expand...

Is it just a case of asking Computershare to facilitate the transfer?
 
Yesterday's news reported that BOI would return funds to shareholders via Dividend plus share buyback.

Might that be useful in OP's scenario? How might the buyback operate?
 
Hi AJAM - Above you state that "If they are electronic, then you can transfer them to any online broker and sell them. I have done this using Degiro."
I followed your logic and opened a Degiro Account and then completed the Incoming Transfer of Investment Portfolio Form only to receive the following back ..

Thank you for contacting DEGIRO.

Please be aware that transfers from Computershare with account number starting with C000/I000... are related to their UK office, which unfortunately we cannot transfer internationally.

Also they do not support SSI clearing settlement, therefore we are unable to process this request due to custodian restrictions on both sides.

We apologize for the inconvenience caused.

Please can you let me know how you were able to do this? Are you located in Ireland? Thanks - Gal1
 
Got the same message from them during the week also. I am in the same position trying to transfer BOI shares to Degiro. Will follow this thread with interest!
 
-Gal1 said:
Please can you let me know how you were able to do this? Are you located in Ireland?
Click to expand...
I was tranferring shares from an Irish Broker (Campbell O Connor) to Degiro. And it was also pre Brexit. So I did not run into that particular roadblock.
 
I see this on google
"You may also call Computershare at 888-IBM-6700 or 781-575-2727 and request a stock certificate for all or a portion of your book entry shares. A stock certificate will be mailed to you by Computershare within forty-eight hours of their receipt of your request."

Now that is from a US site, but if you can get the paper stock certs, you can then bring them to Davys or Goodbody.
Alternatively you could sell the lot.
 
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