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Trading transfering shares to E*Trade

Discussion in 'Shares' started by Crusher, 25th Nov, 2009.

  1. Crusher

    Crusher Well-Known Member

    Joined:
    11th Jul, 2008
    Posts:
    83
    Location:
    Newcastle, NSW
    Hi,

    I purchased 1000 T3 shares in the initial offer. I would like to transfer them to my Etrade account for simplicity in selling them, however im finding it quite difficult.. Ive tried a bunch of times with the HIN and everything seems to be filled out correctly, however it always rejects.

    To sell the shares through Link services, it will cost 60 (instead of 30) and i have to fill out paperwork and get a JP to sign a copy of my ID, and post away etc, and even then the shares are sold when the mail is received by Link. I'd much prefer to sell online, instantly through Etrade..

    Any tips?

    Thanks
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Crusher,

    To transfer the stock from Issuer sponsored to your Broker Sponsored the registration details have to match EXACTLY, character for character (extremely painful I know). CHESS have 30 characters across and 6 rows. You can try adding a comma at the end of the first line to separate name from address. Also watch out for saluations, middle names, misspelling of addresses, suburbs, etc.

    Good luck and let us know how you go.

    Cheers,

    Dan
     
  3. Crusher

    Crusher Well-Known Member

    Joined:
    11th Jul, 2008
    Posts:
    83
    Location:
    Newcastle, NSW
    Thanks Dan, I will give that a go.
     
  4. Crusher

    Crusher Well-Known Member

    Joined:
    11th Jul, 2008
    Posts:
    83
    Location:
    Newcastle, NSW
    Well, i did try again this evening - Unsuccessful again!

    I tried to transfer on E*Trade, but the only thing i can see differently is on the Link services it says my holder name is 'Mr Alex Matthew Warren' however my CHESS registered name is 'Mr Alex Warren' - do you think this could be the missing link?

    Should i fill out a form from Etrade and change my name to add my middle name and try to transfer again? Thanks.
     
  5. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Alex,

    Yes this would be an issue as your HIN registration does not match your SRN registration. If you've already sent ID (which they should have required when you registered for a HIN) they should be able to see your middle name and insert into your HIN.

    Good luck,

    Dan