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Using DeGiro

tod1982

Hi All,

Quick question on using DeGiro when buying a share.

I have always used Goodbody in the past but due to the lower costs have decided to open an account with DeGiro. I am a long term investor and any stock I have bought I have owned for a number of years.

I was looking at buying a company's shares on DeGiro, to hold long term but am getting confused with type and order duration.
To buy these shares at the current market price and have them added to my portfolio what should i select for a) type and b) duration

Thanks

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bfa1509

stinger31 wrote: »

Can you top up your account with Revolut? or does it need to be from your primary bank account?

If so does anyone know how?

I was hoping the same when I was setting up my own account but it warns you that you can't unfortunately:

https://www.degiro.ie/helpcenter/faq/money-transfer/1119 (4th point)

Probably want to protect the money they make from the higher exchange rates they use.

AlmightyCushion

bfa1509 wrote: »

I was hoping the same when I was setting up my own account but it warns you that you can't unfortunately:

https://www.degiro.ie/helpcenter/faq/money-transfer/1119 (4th point)

Probably want to protect the money they make from the higher exchange rates they use.

DeGiro's exchange rates are actually very good. I'm not sure if Revolut will be cheaper but if it is, I imagine it isn't much cheaper.

Also, that information might be outdated. If you save your Revolut BIC and IBAN in your DeGiro's linked accounts then I can't see why it wouldn't work.

bfa1509

AlmightyCushion wrote: »

DeGiro's exchange rates are actually very good. I'm not sure if Revolut will be cheaper but if it is, I imagine it isn't much cheaper.

Also, that information might be outdated. If you save your Revolut BIC and IBAN in your DeGiro's linked accounts then I can't see why it wouldn't work.

I stand corrected. I might give it a try with my Transferwise account. Although not much point if Degiro exchange rates are good anyway. Probably quicker to add money via a 3rd party app though. (although the delay has saved me from making poor investment choices once or twice...)

stinger31

AlmightyCushion wrote: »

DeGiro's exchange rates are actually very good. I'm not sure if Revolut will be cheaper but if it is, I imagine it isn't much cheaper.

Also, that information might be outdated. If you save your Revolut BIC and IBAN in your DeGiro's linked accounts then I can't see why it wouldn't work.

I was trying to use my Euro account IBAN but wasn't accepting it.

"Unfortunately, we only accept money transfers that are in EUR, the base currency of your account."

Bob24

bfa1509 wrote: »

Probably want to protect the money they make from the higher exchange rates they use.

Using Revolut wouldn’t make a difference with exchange rates. Exchange rates apply when you buy shares or receive dividends, which would never be Revolut transactions anyway (all the Revolut transactions would be in euros). Plus as someone said Degiro pretty much offers spot rates anyway.

I think it might have more to do with the fact that they are relying on indirect KYC checks (they assume if your bank opened an account for you the bank did proper KYC), and possibly the level of indirect KYC/identification they can get for Revolut doesn’t meet their legal requirements vs an account with a licensed bank.

Shedite27

On the DeGiro app, at the top it shows how much you're down and up overall/day. Is there a way to change that to % rather than €

Didn't like the times I looked in this week and saw some big red numbers, the % keeps it more realistic

Kagawa

Hi,

I have some company shares maturing in the next while and I want to transfer them into my DEGIRO account rather than cashing them in. Is this possible?

Also the form is looking for the following info;

Name of Broker:
Broker Contact:
DTC Reference:
Personal Account No.

Where do I get this in the app?

TIA

franglan

Lads quickest way to deposit funds into DEGIRO? I have BOI and KBC bank accounts and Revolut. Thanks.

Bob24

franglan wrote: »

Lads quickest way to deposit funds into DEGIRO? I have BOI and KBC bank accounts and Revolut. Thanks.

Probably SEPA transfer with KBC.

sk8board

Assuming KBC is similar to AIB, my transfer arrives same day for transfers before noon, and mid morning if I do it after hours.

franglan

Thanks for that both. Final question - what's the common go to SandP 500 euro currency EFT on DEGIRO these days?

rodneytrotter15

Hi, quick question, just set up an account and am transferring money at the moment. I'm looking to purchase a Nasdaq listed stock. Will this automatically be available or will I have to contact Degiro and wait a couple of days ?

Shedite27

You need to wait for the money to arrive (2/3 days). Once that's there, Nasdaq will be available

rodneytrotter15

I initially registered by Transferwise IBAN with Degiro and at the end of setting up the account it stated they don't accept transfers from 3rd party apps such as Transferwise. So I changed the IBAN to my KBC one. In hindsight surely if you have a Transferwise IBAN they should be accepting payments from it ?

ebayissues

Is there any disposal rule for reits?

TravelTiger

Is it safe to give them your IBAN?

Till now I've only ever shared it with family members and my accountant

Bubbaclaus

TravelTiger wrote: »

Is it safe to give them your IBAN?

Till now I've only ever shared it with family members and my accountant

Why wouldn't it be? The only thing someone can do with an IBAN is lodge money to that account.

AlmightyCushion

TravelTiger wrote: »

Is it safe to give them your IBAN?

Till now I've only ever shared it with family members and my accountant

Yes it is fine. They need it for transferring money out from DeGiro to your bank account and to verify transfers in so they know which account it should go to.

Bubbaclaus wrote: »

Why wouldn't it be? The only thing someone can do with an IBAN is lodge money to that account.

Not necessarily. They can also set up direct debits are Jeremy Clarkson learned a few years back when he printed his in the papers. As long as you are giving it to some one who is trust worthy and reputable, it is usually fine.

inisfree0504

Any idea how long it takes Degiro to clear your account once funds have been deposited? I transferred from BOI on Friday morning, so the money should have reached them by this afternoon but nothing yet.

Bob24

inisfree0504 wrote: »

Any idea how long it takes Degiro to clear your account once funds have been deposited? I transferred from BOI on Friday morning, so the money should have reached them by this afternoon but nothing yet.

It depends on BOI (they are very slow with SEPA), but the money is likely to be credited today.

Basically as long as Degiro receive your SEPA transfer in the morning, it is credited to your account in the late afternoon.

Pkiernan

inisfree0504 wrote: »

Any idea how long it takes Degiro to clear your account once funds have been deposited? I transferred from BOI on Friday morning, so the money should have reached them by this afternoon but nothing yet.

Just be sure to transfer only from the account you have listed with Degiro. I transferred 10k by mistake from an account other than the one registered. The money went to DeGiro, but didnt credit my DeGiro account. I got it back about a week later.

liamjames1

inisfree0504 wrote: »

Any idea how long it takes Degiro to clear your account once funds have been deposited? I transferred from BOI on Friday morning, so the money should have reached them by this afternoon but nothing yet.

How long did the registration take. They are 4 days now and still haven’t approved my ID

dotsman

inisfree0504 wrote: »

Any idea how long it takes Degiro to clear your account once funds have been deposited? I transferred from BOI on Friday morning, so the money should have reached them by this afternoon but nothing yet.

I deposited from AIB on Friday afternoon. The funds were in my Degiro account @ 11.09 this morning.

liamjames1 wrote: »

How long did the registration take. They are 4 days now and still haven’t approved my ID

They are normally fast. But, as per their numerous warnings, they are dealing with extreme loads at the moment, all while trying to deal with Covid-19.

TravelTiger

Thanks.

liamjames1

dotsman wrote: »

I deposited from AIB on Friday afternoon. The funds were in my Degiro account @ 11.09 this morning.

They are normally fast. But, as per their numerous warnings, they are dealing with extreme loads at the moment, all while trying to deal with Covid-19.

Get that but wondering if anyone had gone through the process since Covid kicked off properly. Thanks

TRS30

Just about have account set up and have a question.

I want to but shares in one company on the FTSE and plan to leave for 5+ years.

If I have €1000 in my account and want to buy as many shares as possible how much do I need to leave to cover buying/ ongoing costs. Think I know however just wanted to make sure I've done my maths right!

dotsman

TRS30 wrote: »

Just about have account set up and have a question.

I want to but shares in one company on the FTSE and plan to leave for 5+ years.

If I have €1000 in my account and want to buy as many shares as possible how much do I need to leave to cover buying/ ongoing costs. Think I know however just wanted to make sure I've done my maths right!

Assuming you are buying all in the 1 transaction, it's just €4 + 0.05% of the value (so a smidge under €4.50)

The only non-transaction fees I'm aware of that would apply for you are the €2.50 per non-Irish exchange per year. In your case, you are only using the 1 exchange, so just €2.50 per annum.

adam88

Basic or custody profile?? Major difference. ??

I won’t be transacting much. Gonna buy a few when they’re low and let sit for a while. Single digit €K in terms of what I’ll be investing. Any help greatly appreciated.

TRS30

dotsman wrote: »

Assuming you are buying all in the 1 transaction, it's just €4 + 0.05% of the value (so a smidge under €4.50)

The only non-transaction fees I'm aware of that would apply for you are the €2.50 per non-Irish exchange per year. In your case, you are only using the 1 exchange, so just €2.50 per annum.

Thanks.

what happens if you don't have €2.50 cash in your account?

Bob24

TRS30 wrote: »

Thanks.

what happens if you don't have €2.50 cash in your account?

Not sure but I’d say they’ll just give you a negative balance and charge some interests in it.

Having a negative balance means you can’t sell or transfer any of your equities so basically your account would be frozen with no access to your assets. I can’t see why anyone would leave it that way for a prolonged period, and in any case DEGIRO knows you will have to pay at some point to regain access to your assets so there is nothing for them to worry about.