Selling BOI shares

[savanna]

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.

 

[Brendan Burgess]

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.

 

[skrooge]

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?

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.

What did the Regulator say when you contacted them?

 

[Brendan Burgess]

It seems that Computershare might be able to transfer them to IBRK and then they will sell them for you.

https://www.reddit.com/r/irishpersonalfinance/comments/1e5tvh2/computershare_unable_to_sell_boi_shares/

 

[savanna]

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.

 

[ClubMan]

If anybody knows somewhere else I can sell them that would be great.

It seems that Computershare might be able to transfer them to IBRK and then they will sell them for you.

 

[Protocol]

Are the shares currently in paper form? As in share certs?

 

[ClubMan]

Are the shares currently in paper form? As in share certs?

 

[Brendan Burgess]

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]

I have them in electronic form. What online broker do you think would do it

 

[ClubMan]

I have them in electronic form. What online broker do you think would do it

It seems that Computershare might be able to transfer them to IBRK and then they will sell them for you.

https://www.reddit.com/r/irishperso...tvh2/computershare_unable_to_sell_boi_shares/

 

[AJAM]

I have them in electronic form. What online broker do you think would do it

If they are electronic, then you can transfer them to any online broker and sell them. I have done this using Degiro.

 

[Persia]

If they are electronic, then you can transfer them to any online broker and sell them. I have done this using Degiro.

Is it just a case of asking Computershare to facilitate the transfer?

 

[ClubMan]

If they are electronic

They can't be otherwise. See my earlier post.

 

[AJAM]

Is it just a case of asking Computershare to facilitate the transfer?

No, if I remember correctly you have to download and fill out a form from Degiro and send it to both Compshare and Degiro.

 

[Slim]

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?

 

[-Gal1]

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

 

[imalwayshappy]

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!