If you want to transfer shares to another person, company or bank account, you can do this through an off-market or online transfer. The option you choose will depend on how your shares are registered and where the shares are being transferred from and to.
To transfer your shares to another trading platform, you need to complete a Clearing House Electronic Subregister System (CHESS) sponsorship form that will allow you to transfer your existing holdings from a certain issuer or broker to another sponsoring participant.
CHESS is the computer system used by the ASX to record shareholdings and manage share transaction settlements.
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5 steps to transfer shares
It will be slightly different for every provider, but the general steps are as follows:
Log in to your account and click the "Start new form" from your account.
Fill in the form. This includes your details and your old broker's details, HIN and SRN if you bought it as an IPO. Keep in mind that your name and address must match.
Print the form as it will need to be physically sent to the provider and you will not be able to use an e-signature.
Consider capital gains if you are transferring from a single to a join account as that will be a capital gains event.
You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.
How are your shares registered?
Essentially, your share transfer will depend on how your shares are sponsored.
They will either be:
Issuer sponsored
CHESS sponsored
Custodian
Issuer-sponsored holdings are those that you may have purchased as a new issue, earned through a demutualisation, been allocated by your company, inherited from a family member or transformed from broker sponsorship. Your ownership is recorded by the registration company that initially issued the shares.
CHESS-sponsored holdings, on the other hand, are those registered via a stock broker on the ASX's registry. These are usually given an HIN (Holder Identification Number) by the broker. These shares are likely to have been purchased through a broker.
Custodian shares are held on your behalf, either by a broker or other financial institution. Your ownership of the shares is managed by that broker. These are also likely to have been purchased through a broker.
Fill in your details and the old and new brokers’ details – make sure that these details are correct and match the ones in the old broker. Then sign the Declaration & Sign/s section. Note: For broker-sponsored shares, you will have an HIN instead of a Securityholder Reference Number (SRN) allocated to your shares, which starts with an "X".
Print out the form and complete any outstanding information.
Email it to online@westpac.com.au.
You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Fill in your details and the old and new brokers’ details – make sure that these details are correct and match the ones in the old broker. Then sign the Declaration & Sign/s section. Note: For broker-sponsored shares, you will have an HIN instead of an SRN allocated to your shares, which starts with an "X".
Print out the form and complete any outstanding information.
Fax the form on 1300 130 493.
This type of transfer is free of cost. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Post
Post the completed CHESS form to:
Westpac Securities Reply Paid 85157 AUSTRALIA SQUARE NSW 1214
Otherwise, you can transfer shares through an off-market transaction. This is also referred to as a standard transfer.
Transfer shares from another broker’s CHESS-sponsored account
Here are the steps to transfer your shares to a Westpac Securities CHESS-sponsored account.
Fill in all required details. You can refer to the second page of the form for guidelines.
Send the completed form to Westpac Securities: Westpac Securities Reply Paid 85157 Australia Square NSW 1214
This post transfer costs $50 per transfer. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Fill in all required details. You can refer to the first 2 pages of the form for guidelines.
Send the completed form to: CommSec Locked Bag 22 Australia Square NSW 1215
This post transfer costs $54 per transfer. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Fill in your details as well as the holdings details, then complete and sign the declaration section.
Email the form to requests@anzshareinvesting.com
This type of transfer is free of cost. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Fill in and complete the form before signing the declaration section.
Fax the form on 1300 553 589.
This type of transfer is free of cost. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Post
Post the completed broker-to-broker transfer form to:
ANZ Share Investing Reply Paid 1346 Royal Exchange NSW 1224
Otherwise, you can transfer shares through an off-market transaction. This is also referred to as a standard transfer.
Transfer shares from another broker’s CHESS-sponsored account
Here are the steps to transfer shares to an ANZ Securities CHESS-sponsored account.
Send the completed form to ANZ Securities: ANZ Share Investing Reply Paid 1346 Royal Exchange NSW 1224
There is a post transfer fee of $55 for each transfer. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
NAB
Online
Log in to nabtrade.
Navigate to Admin > Permissions > Broker Sponsored > Apply > Submit to download the broker-to-broker transfer request form.
Complete all information on the form.
Send the form to enquiries@nabtrade.com.au.
This transfer is free of cost. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Fax
Log in to nabtrade.
Navigate to Admin > Permissions > Broker Sponsored > Apply > Submit to download the broker-to-broker transfer request form.
Complete all information on the form.
Fax the completed form on 1300 368 758.
This transfer is free of cost. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Post
Post the completed broker-to-broker transfer request to:
nabtrade GPO Box 4545 Melbourne VIC 3001
Otherwise, you can transfer shares through an off-market transaction. This is also referred to as a standard transfer.
Transfer shares from another broker’s CHESS-sponsored account
Here are the steps to transfer shares to a nabtrade CHESS-sponsored account.
Fill in all required details. You can refer to the third page of the form for guidelines.
Send the completed form to: nabtrade GPO Box 4545 Melbourne VIC 3001
There is a post transfer fee of $55 for each transfer. You will have to wait 2–3 days after the form is received until the shares you nominated are transferred successfully.
Cameron Micallef was an investment and utilities writer for Finder. He previously worked on titles including Smart Property Investment, nestegg and Investor Daily, reporting across superannuation, property and investments. Cameron has a Bachelor of Communication and Media Studies/ Commerce from the University of Wollongong. Outside of work Cameron is passionate about all things sports and travel. See full bio
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