First Share Purchase

Galwayman_west

I have a small amount of money to invest EUR2000 and am looking to buy shares in a stable iseq company like boi or crh and don't know how I go about buying the shares and getting a share certificate as I plan to just forget about them put them in a drawer and keep the shares for a long time. I have opened up an aib online share dealing thing but they want to charge me EUR26 for so called "maintenance fees”. I am down EUR26 euro already before I have even bought anything.

Does any body know where I can simply buy some shares, get the cert.’s and be on my way or is there no disadvantage to having a nominee account with aib and just keep them there.

Also, if you have shares in a nominee account with aib can you get share certs later on?

..I am one of these people who don't trust the banks and like everything in writing...

If anybody can help I would really appreciate it...

madramor

never buy anything from banks ie (insurance,investments,shares)

You want an execution only broker service, when you just buy the shares and get the cert to mind yourself.

i think these guys used to be the cheapest http://www.camocon.ie.

sharewatch.com are the cheapest if you want to trade regurarly, but have an annual fee.

Galwayman_west

Thanks for your advice on this. I will give these guys a call. First time using this site. Very helpful. thanks again.

killeoin

I disagree, register for internet banking with either BOI or AIB. .65% comm can't be beaten!

madramor

killeoin wrote:

I disagree, register for internet banking with either BOI or AIB. .65% comm can't be beaten!

there website says
# Trades up to EUR 25,000 charged at 1.25%
# Balance exceeding EUR 25,000 charged at 0.50%
# Minimum Trade Cost EUR 32.00
http://www.aib.ie/sharedealing/indexnetscape.html

plus

26 euro per year fee, the OP said they want to keep the shares for a long time so thats a lot of 26 fees.
Or they could take the shares out of aib at an additional charge of €40.

lets see some info to back up your statement.

Tazz T

If it's long term you could minimise your risk and fees by simply investing in one of Rabobanks online investment funds.

Even with a stable ISEQ company something could go wrong and if you're only investing in one company you have no back up.

killeoin

madramor wrote:

there website says
# Trades up to EUR 25,000 charged at 1.25%
# Balance exceeding EUR 25,000 charged at 0.50%
# Minimum Trade Cost EUR 32.00
http://www.aib.ie/sharedealing/indexnetscape.html

plus

26 euro per year fee, the OP said they want to keep the shares for a long time so thats a lot of 26 fees.
Or they could take the shares out of aib at an additional charge of €40.

lets see some info to back up your statement.

My bad, I refered to AIB when I only use BOI:

Commission and other charges 25 Jan 2006

Online Transaction Fee Phone Transaction Fee

Minimum commission (per trade) €25 €100
0.75% on First €25,000 1.65% on First €15,000
0.50% on Balance 1.00% on Next €15,000
0.50% on Balance

http://www.davy.ie/public/GenericPublicPage?page=charges

Must have gone up from the .65% but in my opinion .75% is as good as you're gonna get.

madramor

killeoin wrote:

Must have gone up from the .65% but in my opinion .75% is as good as you're gonna get.

OP
I want to buy 1 share block to hold for the long term.
Spend 2000
Forget about stamp duty

MY Option: http://www.camocon.ie.
The only cost is 1.5%
2000 at 1.5% = €30

Total = €30

Your Option: http://www.davy.ie/public/GenericPub...e?page=charges
Comission .75
2000 at .75% = €25 because of minimum spend
Accountant maintenace fee 40 + vat 8.40 = €48.40
(account maintenace is charged twice a year so you would have to close the account before they charge you again)
Take stock out of account €25

Total = €25 + €48.40 +€25 = 98.40