- April 19, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Deciding on What to Do with Old NZX Shares
As per the title, I am currently contemplating what to do with my old NZX shares, which are under my own CSN. I am considering either investing in an index fund or using the proceeds to pay off a portion of my mortgage. However, before I can proceed with either option, I will need to sell the individual shares that I currently hold.
## Selling NZX Shares on Sharesies: A Simple Process?
I am curious about the process of selling NZX shares on Sharesies. I already have a verified account with them, which I assume would make the transaction more streamlined than opening a new account elsewhere. However, I am wondering if there are any potential pitfalls or complexities that I should be aware of before proceeding.
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Depends on $ values and what you have setup already
ASB or another broker might be easier if you have an account with them. Costs a fixed fee of $25 to sell for each company’s shares
if it’s a one off and you are already verified i think sharesies is almost definitely the easiest and the fees are reasonable if not the cheapest depending on the amount.
selling is easy as basically just pressing the sell button, enter amount, confirm. I don’t think it can be easier than that.
If you’re using sharesies you’ll need to talk to them about transferring your shares from your CSN to their custody.
Other brokers can sell directly off of your CSN. Note that you’ll need a FIN number in any case, so if you don’t have yours then now is a good time to arrange a new one from the Registry.
ASB offers a one-off sale process for their banking customers, however the fee to do this is higher (although the process is easy enough).
I had NZX shares with Link Market and i transferred them to sharesies to sell easy as just took like 2 weeks i think from start to cash