DRP and share transfer

[Guest Lloydking]

Hi everyone,

 

As DRP is not part of the service offered by IG, it's actually more expensive when dividends are paid out and not reinvested. Therefore, I'd like to be able to transfer my shares to another provider. I've looked for the SRN, but does not seem available. Is it possible to transfer shares out of IG?

 

Thanks!

[Guest ChrisWa]

Hi 

 

I apologise that the feature you require is not available on the IG share dealing platform. We have been looking at various enhancements to complete our offering dividend with reinvestment being one of them. 

 

I appreciate that you would like to transfer your holdings away from IG, whilst I can say we are looking at introducing these new features I am not able to provide a time frame for when they will be implemented. 

 

If you wish to proceed with the transfer we can action that free of charge and you will be able to close the account without any closure fees. In order to initiate the transfer you will need to complete a stock transfer form with the broker you are transferring your holdings to, that way we can be in direct contact and provide all the relevant information.

 

Thanks,

Chris

[Guest chocolatelover]

As fairly new to investing I missed that point and have told my partner to go to a different broker for that reason. I will stay if they do come up with it in the next couple of months. I hope this helps

 

[Guest Agu]

On 08/08/2017 at 21:57, Lloydking said:

Hi everyone,

 

As DRP is not part of the service offered by IG, it's actually more expensive when dividends are paid out and not reinvested. Therefore, I'd like to be able to transfer my shares to another provider. I've looked for the SRN, but does not seem available. Is it possible to transfer shares out of IG?

 

Thanks!

How come it is more expensive? Would you please elaborate on that?