I'm caught by this too. With around five transactions per year (HYP style), my fees will be going up 2½ times. But mine is in an ISA, so I haven't the option to certificate the holdings. Barclays will certainly get no more ISA subscriptions, but I am having to think about this one. I have an ISA of similar value elsewhere and security must come first.
Julian wrote:.... because I'm very seriously considering moving to certificates.
.... There was also the initial hassle of getting electronic communication preferences and direct bank credits for divis set up. In contemplating a move back to certificates all this hassle is beginning to come back to me and I confess that I now realise how much I like not having to do all that stuff.
I rematerialised shares from nominee to certificate in two tranches from two different brokers about a year apart. There were 2 holdings that were duplicated, and I gave the second broker my existing shareholder reference number (SRN) with a request to consolidate.
- I was sent a further certificate for my Unilever holding (registrar Computershare) which was under the same SRN, so no further organising there.
- For my holding in Morrisons (Capita), it was a new SRN. I telephoned Capita, and they agreed to consolidate the two holdings and sent me a letter to confirm. I still hold the two certificates with different SRNs as the second one was not re-issued.
Too small a sample to say the difference is a registrar issue, but if you have overlapping holdings, it cannot harm to ask for consolidation.
I've also been caught by the Charles Stanley recent trade-monthly-or-be-fined £20 increase. I just don't understand that with the costs involved in a trade it's only £11.50, but if I don't trade it's £20, so yes, I do count it as a fine. You will understand I'm a bit pee'd off at present !