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How to transfer your tax-free investment account
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How to transfer your tax-free investment account

Since the 1st of March, the government has allowed investors to transfer their tax-free investment accounts from one broker or service provider to another. Below is the process for Transferring from to or from Online Share Trading/Auto Share Invest.

 

Incoming Transfer - from another broker to Standard Online Share Trading:

  1. You must have a TFIA account opened.
  2. Send us details of the Share Transfer coming in, either in an email or as per the Share Transfer Request Form (attached in this post). We’ll need the following:
  • BDA Account Number
  • Product Provider details and contact details
  • Instruments to transferred
  • Estimated Values to be transferred.
  1. Request to be sent to SBGShareTransfers [email protected]
  2. An Official Share Transfer Request Form will be sent to both you, as well as the Transferring Broker. Please sign the form to confirm you’re happy with the details and return to both Standard OST and the transferring broker.
  3. Once all the requirements from the External Broker have been met, we’ll be able to kick-off the transfer process. The transfer has to be completed within 10 days of this date. To finalize the transfer, we will require a TFIA Share Transfer Certificate from the external broker confirming certain details.
  4. Once the transfer is complete, you will receive an email confirmation.

Outgoing Transfer - from Standard Online Share Trading to another broker:

  1. You’ll need to provide us with an Incoming Transfer Request Form from the Incoming Broker.
    1. Please send these to SBGShareTransfers [email protected]
  2. Sufficient funds need to be available in the account to cover the fees for the transfer. Standard Transfer Fees apply as per below.
    1. Funds need to be recovered from the Tax Free Account.
    2. If clients have utilized their full contribution, they are required to sell shares to cover the costs.

 

Full Portfolio transfers

Share Transfer

R62.23 

The fee to transfer to another broker per share holding.

(including VAT)

Cash Transfer

R4.56
(including VAT)

The fee to transfer Cash to another broker.

Partial Portfolio transfers

Share Transfer

R113.76 

The fee to transfer only certain shares to another broker per share holding.

(including VAT)

Cash Transfer

R4.56
(including VAT)

The fee to transfer Cash to another broker.

 

  1. We will process the request and provide you with a Provisional Share Transfer Certificate that you are required to sign.
  2. Once the signed Provisional Share Transfer Certificate has been received, we can begin communication with the Receiving Broker and transfer the funds.  The transfer should be completed within 10 days of this date.
  3. Once all Shares and Cash have been transferred, a Share Transfer Certificate will be emailed to you confirming transaction is complete.

Should you have any queries, please send an email to [email protected] or contact our call centre on 0860 121 161

 

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