To transfer shares to CommSec, specifically for off-market transfers, a fee of $54 per stock applies. This cost is charged to the person whose account is receiving the shares.
Understanding Share Transfer Costs at CommSec
When you transfer shares into a CommSec account through an off-market transfer, a specific fee is incurred. This fee is designed to cover the processing of transfers that occur outside the standard, automated CHESS (Clearing House Electronic Subregister System) settlement process.
- Cost: $54
- Applicability: Per unique stock (i.e., per company or security). If you transfer shares from two different companies (e.g., BHP and CBA), you will be charged $54 for each, totaling $108.
- Payer: The fee is charged to the CommSec account that is receiving the shares.
What is an Off-Market Share Transfer?
An off-market share transfer refers to the movement of shares between two different parties outside of a regular on-market trade executed through a stock exchange. These transfers typically involve a change of ownership without a sale and purchase transaction.
Examples of situations where an off-market transfer may occur include:
- Gifting shares: Transferring shares to a family member or friend.
- Deceased estates: Moving shares from a deceased person's estate to beneficiaries.
- Changing beneficial ownership: Such as transferring shares from a personal name to a company or trust, or vice-versa, where the parties are different legal entities.
- Consolidating holdings: Moving shares from an issuer-sponsored holding (where shares are held directly with the company's share registry) to a broker-sponsored account (like CommSec).
For more detailed information on share transfers between different parties, you can refer to the CommSec support page on transferring shares between two different parties.
Summary of CommSec Off-Market Share Transfer Cost
| Transfer Type | Fee per Stock | Charged To |
|---|---|---|
| Off-Market Transfer | $54 | Account Receiving Shares |
Important Considerations for Transferring Shares to CommSec
- Specific Fee Type: It is important to note that the $54 fee specifically applies to off-market transfers. Different types of share transfers may have different processes and associated costs, or may not incur a direct receiving fee from CommSec.
- Contact CommSec: For specific transfer methods, unique situations (e.g., international shares, shares held in different structures), or to confirm any potential costs related to your particular transfer scenario, it is always recommended to contact CommSec directly.
