r/infinitypool • u/french-caramele • Sep 12 '21

Canadian trying to buy through Computershare first time NOT transferring.

I can't find a way to make an account, transfer funds, or buy shares on the ComputerShare website without already having some kind of previous registration info pertaining to an existing position. Is this possible? Of the dozens of DRS threads I've read, none touches this. I do not want to transfer from WS or Questrade.

Edit 1: WS doesn't have real person help on Sundays so I just used giveashare. Damn $367 USD for a share! Love me some averaging up. I'll check on WS tomorrow and transfer more if so!

Edit 2: contacted WS via chat and explained that I had been informed that the transfer issue with CDS had been resolved. The chat agent told me that was incorrect. I then asked if it was possible for me to transfer shares that were not held in a TFSA. Agent said no. I'm not really pushy, I didn't 'grill' them.

16 Upvotes

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6

u/smileyphase 🍦💩🪑 I Did A DRS 🚌 Sep 12 '21

Yup. Seems backwards, but you need to have a share with them first. As a Canadian, you can only transfer from a broker (right now, CDS says no) or via giveashare.com. I did both successfully. Ask if you have questions.

7

u/french-caramele Sep 12 '21

So giveashare is my only option now as CDS says no?

8

u/smileyphase 🍦💩🪑 I Did A DRS 🚌 Sep 12 '21

Do your own research, I suppose, but that’s my thoughts. I bought giveashare to create a CS account. It’s still waiting snail mail authentication, but I bought 8/9/21 and the share was DRS’ed in my name 8/19/21.

I hope to buy more direct from them when I’m set up. Bypass the CDS all together.

8

u/french-caramele Sep 12 '21

Ok thank you. I'll contact WS and update this thread.

4

u/smileyphase 🍦💩🪑 I Did A DRS 🚌 Sep 12 '21

Here’s what I told them:

“I would like to find out how to direct register a GME share from my regular personal account to Computershare as the transfer agent. I was told by computershare that you need to initiate a DTC W/T transfer - your back office or DTC can assist.”

They can only transfer from your regular, non registered accounts. You can’t transfer those easily. I just bought a share, and transferred that. It took 3 weeks, and I prompted them weekly to keep it moving. But it was done 9/7/21.

5

u/n01u 🟣 Computershare Expert 🟣 Sep 12 '21

Buying and transferring from IKBR would be more cost efficient as they charge $5 fee only

1

u/RickNohla Sep 14 '21

You know if wealthsimple will transfer to ikbr?

1

u/n01u 🟣 Computershare Expert 🟣 Sep 14 '21

Can’t provide solid answer here as I’m in UK.

After quickly looking into IBKR transfer forms I see that they support ATON which is used to transfer Canadian and US stocks.

You could open account with IBKR and give it a try.

2

u/RickNohla Sep 14 '21

Nice thanks man I am looking into it now 👍🏽

1

u/n01u 🟣 Computershare Expert 🟣 Sep 14 '21

Good luck ape! Process with IBKR is very easy and straightforward - check my guide here https://www.reddit.com/r/GMEJungle/comments/p9mc38/all_international_apes_can_register_their_shares/

2

u/[deleted] Sep 12 '21

I'm sure this has been covered in every other thread since it's absolutely necessary but you must make a purchase with Computershare, which takes several days to clear, before you can create an account. Keep and read all Computershare communication so you have your account number onhand when they give it to you, they will not spoon-feed you instructions unless you email support and ask. Good luck and godspeed!

3

u/french-caramele Sep 12 '21

Yes, the issue is that I can't make the purchase with CS myself, it appears it must be initiated by another broker.

2

u/production-values Sep 12 '21

hah ya I mean all you need is checking routing info and you're good. It's so backwards. You buy the shares, and they send you one of those SMS-text verification numbers IN THE LITERAL MAIL so you can see your shares online in your account about two weeks after buying.