With a Nominee Account, your holdings are held in the authorised nominee company name of Brewin Dolphin Ltd, or an associated Nominee Company or one appointed by us, with all administration handled by the company on your behalf. A Nominee Account is available to individuals, joint applicants, Limited Companies, Partnerships, Pension funds/Trusts/Charities, Clubs/Unincorporated Bodies and Overseas Residents.
* The Stocktrade Deposit Account is a customers money account held at an approved bank.
** CREST eligible foreign stock - No additional charge. NON-CREST foreign stock a £50 additional charge will apply.
*** Nominee fee of £15 + VAT per stock exit charge levied by Stocktrade for UK equities. Exit charge for non-UK equities can be up to £90 +VAT / stock
CREST is the electronic settlement system through which the London Stock Exchange settles bargains. Stock is held in an electronic dealing account but shares remain to be held in your name. It is available to individuals, joint applicants and partnerships.
* The Stocktrade Deposit Account is a customers money account held at an approved bank.
** Additional £20 foreign charge will apply.
*** Fee of £15 + VAT per stock exit charge levied by Stocktrade.
Stocktrade offer a traditional certificated dealing service that allows you to retain your own share certificates. This can be operated in conjunction with a Stocktrade deposit account or sale proceeds can be credited to a bank account on settlement date and purchases can be paid for at the time of dealing with a Debit card.
Gross Interest is credited to your account biannually at the end of April and October. Money that we hold on deposit will earn interest at a tiered rate below the Bank of England Base rate, accrued on a daily basis. The following table highlights the interest relative to the deposit account balance.
| Deposit Account Balance | Percentage rate below current base rate |
|---|---|
| up to £1,000 | 2.25% |
| up to £5,000 | 2.00% |
| up to £10,000 | 1.50% |
| up to £25,000 | 0.75% |
| up to £500,000 | 0.50% |
| over £500,000 | 0.25% |
For ease of settlement you can run a Deposit Account in conjunction with your Deposit Account Sharedealing Account. You can only access the account through the sharedealing account and no cards or cheque books are issued on this account.
You can submit funds by cheque, made payable to Deposit Account Sharedealing Service or by a BACS/CHAPS transfer from your bank. The funds must be transferred to our Bank of Scotland account, sort code 12-22-48 account number 00100486. Please make sure that you have your bank attach your Deposit Account customer code as a reference. This is very important as it enables us to identify your transfer when received. Please note that you cannot open your account with a funds transfer, as it must be a cheque. You can also add funds to your account by debit card by simply calling one of our operators and instructing them to do so.
Yes, if your Deposit Account has been active you will receive a Deposit Account statement on a quarterly basis in January, April, July and October.
If you have a Nominee Account you will also receive an Income account statement on a quarterly basis January, April, July and October.
Stocktrade also issue a Year End Pack in April/May which includes a Consolidated Tax Voucher, Deposit Account statement detailing gross interest for the full tax year and a list of holdings. If you have a Nominee Account you will also receive a detailed Income statement showing all dividends and interest collected on your behalf for the full tax year.