If you already hold ASX-listed (Australian Securities Exchange) shares elsewhere, you can move them into Sharesies if they’re eligible for transfer by following the required steps and submitting to us the documents we request.
You are also able to transfer shares out of the Sharesies platform by completing the required steps.
These terms and conditions are to be read in conjunction with the terms and conditions for use of the Sharesies platform.
Your holding arrangement will change
This involves changing the holding arrangement while keeping the shares in their current form, rather than converting them to cash and repurchasing them. This is known as ‘making an in specie transfer’.
When you transfer into Sharesies
You also acknowledge that the legal title will be transferred from your name (being the current holder) to the custodian that Sharesies uses to hold this type of asset on behalf of Sharesies investors. Like all shares held on the Sharesies platform, the investment will be held on your behalf on bare trust and will be held for your complete benefit.
You acknowledge that as part of this transfer and change to the holding arrangement, you will no longer receive communications directly from the registry as these communications will be directed to Sharesies.
When you transfer out of Sharesies
When you transfer shares out of Sharesies, you acknowledge that you will only be able to transfer whole shares and that the holding arrangement will change as these shares will change from being held in Sharesies’ name on bare trust to your name.
How to transfer your eligible ASX-listed shares to Sharesies
To complete the transfer, you will need to:
Complete the requested information in the Sharesies mobile app;
Complete and return any forms that we require ‘wet’ signatures on; and
Respond to requests for further information, if required.
By completing the process and returning the required information, you are taken to have agreed to these terms. You may wish to make and retain a copy of any forms you are required to send back to us that we will send to you.
Where we already hold certain information, we may pre-populate information into the relevant forms. If the information is incorrect, please follow the instructions in-app or contact the Investor Care team by using the chat icon in-app to discuss further. Please do not sign any forms if the information contained on the form is incorrect.
You acknowledge that Sharesies may, in its sole discretion, reject your request to complete an in-specie transfer and does not need to provide reasons for doing so.
Sharesies makes no representations or guarantees for the timeframe required to complete your transfer request. The time to complete transfer requests may be impacted during periods of increased customer query volumes, corporate actions or other events outside of Sharesies' control. Typically, transfers of a security will be delayed or cancelled where a corporate action is pending for that security.
Which ASX-listed investments can be transferred with Sharesies?
At present, you can transfer shares that:
are listed and trading on the Australian Securities Exchange (ASX) at the time of the request; and
are issuer-sponsored, i.e. they have a Securityholder Reference Number (SRN) associated with the holding.
You agree that by providing the requested information and sending the required signed forms, you are asking Sharesies to arrange for a transfer of the legal title of the eligible shares that you identify via the in-app ‘Share Transfer’ feature.
When transferring your shares onto the Sharesies platform, you confirm that you own the legal title for those shares and the name held on your CHESS statement matches our records.
How much does it cost to transfer ASX-listed shares into the Sharesies platform?
We don’t currently charge you any fee for arranging an in-specie transfer of eligible investments into your Sharesies Portfolio, except where we are charged a fee by a third party and pass this fee onto you to recover our costs (see below in ‘Other Costs Information’ for more information).
How much will it cost to transfer ASX-listed shares out of the Sharesies platform?
When you transfer shares out of the Sharesies platform, there is a $50 fee associated with the transfer payable to Sharesies. This fee is charged in your home currency. We will deduct this fee from your Wallet.
Other Costs Information
You agree that if Sharesies (or any other entity involved in the transfer such as our custodian) incurs any third-party, government or other fees, costs, stamp duty or charges associated with processing or arranging the in specie transfer that you request, we can charge you those amounts if we decide to. This includes where the information you have given us about the holding you are asking to be transferred is incorrect or incomplete and we are required to contact a third party to obtain accurate information about your holding, and that party has a fee associated for access to this information.
By asking to make an in specie transfer, you agree that we can deduct any of the amounts described above from your Wallet. If your Wallet does not have enough money to cover those amounts, we can decide not to proceed with the transfer or that you will pay the amounts in one or more other ways as described in ‘What happens when you owe us money’ in the Sharesies Terms of Service (available via sharesies.nz for New Zealand investors or www.sharesies.com.au for Australian investors).