Selling shares through computershare or ast

[Thomas Dearman]

Has anyone sold any of their drip shares directly through AST or computerahare? They tell me some companies can be sold this way and I see BMO appears to be one. Does anyone know what fee they charge for this?k

[T S]

See below, didn't seem to copy and paste very well.  For web sales it says a fee of $35.00 + 19.99 minimum commission + .03/share.  I always get a direct registration statement and then I take that or send it in to your discount broker.  After shares hit your discount brokerage account then sell.  Under paper sales says just .03/share with no fee, but not sure what paper sales is perhaps that is when you mail in the back of  your account statement.  I always go the direct registration route.

BANK OF MONTREAL/BANQUE DE MONTREAL

Shareholder Dividend Reinvestment and Share Purchase Plan

Ticker Symbol: BMO

$127.99 As of 8/16/2021 4:00 PM ET

No Discount on Optional Cash Purchases.

Pre-Authorized Debit Service: Your Plan account must already be coded compliant with Canadian Anti-Money Laundering requirements in order to participate in this service.

All requests must be received no later than the 10th day of the month. Requests received after this cutoff will be processed against the next investment date.

Note: Current investment is Market Purchase.

Sale Method

Fee

Commission

Paper sales

N/A

$0.03/share

Phone sales

$50.00

$0.03/share min $19.99

Web sales

$35.00

$0.03/share min $19.99

 DOCUMENTS

 INVESTMENT OPTIONS

 PLAN FEES

 PLAN FEATURES

[T S]

Just ensure that your discout broker doesn't charge for direct registration/certificate deposits.  I know that Questrade and Scotia Itrade have fees so check first.

[Bill Martin]

If  your shares are drs…cannot they transfer them electronically to your broker?  I thought that was one of the benefits of drs (as well as not needing share certificates)

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[T S]

To best of my knowledge, the transfer agents (Computershare and AST Trust Canada) won't do this for us.  If someone else has experience otherwise please feel free to correct me.  I think I asked once a few years ago and the answer was no we don't do that.  They mail out a DRS statement in lieu of a certificate that shows the CUSIP number, account number and number of shares in DRS.  Once I have that I take the DRS statement to a CIBC branch where they fill out a form 8020 and they send that and the DRS statement over to CIBC Investor's Edge in Toronto.  A few business days later I see the shares in my CIBC Investor's Edge Account.  Same thing with RBC I took the DRS statement to the branch along with a form from RBC's website and they forwarded the DRS statement to RBC Direct Investing in Toronto.  The only other discount brokerage I have experience with was National Bank Direct Brokerage.  In that case I e-mailed a scanned copy of the DRS statement to them.  Shares showed up in my account a week or two later.

[Jerry Lee Daniel]

MT103/202 DIRECT WIRE TRANSFER
PAYPAL TRANSFER
CASHAPP TRANSFER
ZELLE TRANSFER
TRANSFER WISE
WESTERN UNION TRANSFER
BITCOIN FLASHING
BANK ACCOUNT LOADING/FLASHING
IBAN TO IBAN TRANSFER
MONEYGRAM TRANSFER
IPIP/DTC
SLBC PROVIDER
CREDIT CARD TOP UP
DUMPS/ PINS
SEPA TRANSFER
WIRE TRANSFER
BITCOIN TOP UP
GLOBALPAY INC US
SKRILL USA
UNIONPAY RECEIVER

Thanks.


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