Source
r/stocks•
marksmad

What to do with paper share certificates

Question

Forgive me if this question gets asked often in this sub.

I have a few paper share certificates in UK companies that were issued some time back. Taken together, they add up to a few hundred pounds that I would like to cash in. I now live in Switzerland (ie, non-UK resident), so the companies themselves refuse to sell the shares on my behalf, and the Swiss high street banks I've asked about it have looked at me weirdly.

Any suggestions or ideas? I'll be very grateful.

Posted Oct 28, 2019, 4:17 PM UTC

32
autist_retard•

The way shares are usually traded these days is by opening a brockerage account and when your buy order is filled a central depository firm confirms that they hold these securities for you. Therefore no physical delivery of certificates is needed. In Germany this company is called Clearstream. I believe the UK one is Euroclear. Now either your broker accepts these paper certificates and I know some american ones do, or you have to send them directly to the clearing/depository company, but they will charge a fee. As soon as they show up on your brokerage account you can sell them on the LSE.

1
badgerale2•

I don’t know about Switzerland but in the UK, if you don’t want to sell directly with the share registrar, then you can open a broker account and then deposit the physical share certificate with them (turning them into electronically held and easily tradable shares).

Though you should check if they will accept the shares first as some (like non-EU shares may not be accepted).

Alternatively, if you didn’t want to open an account you could contact a traditional stock broker who would arrange the sale for you.

1