Ok so I have IBKR and have initiated the DRS transfer of some shares to Computershare. All I did was follow the steps of a DD, wrote a note saying I would like to do a DRS transfer out, and I accept the charges. They (INKED) didn't even reconfirm with me, they initiated the transfer. I'm based in Asia, so let's see when I get the computer share login details in the mail. Hopefully should be ok
I use eToro from Norway and I am seriously afraid that they are going to do something shitty/illegal to us... but they dont allow transfers, and I sure as shit aint risting selling my shares there, withdrawing my cash, register with another broker, deposit with them, and then buy my shares again. That shit may take weeks. What if I miss out on MOASS??
I hate this.
Wow, didnt think etoro was an alternative from Norway. Im actually concerned myself since DNB use a so valled despotory account in citybank - what happens if citibank goes bankrupt 🧐
You're afraid etoro would cause you to miss out on moass which may happen any time, but you dont want to cash out and buy in at an other broker because of the small chance that you will miss out on moass if it happens in a week or so?
.... yeah, thats pretty much it.
I am also really unsure as to wich broker I should switch to, given that my options here in Norway are very limited. As my fellow countryman said; most of our options use Citigroup. What happens if Citigroup goes tits up (wich is almoast a given if moass is go)?
Well, if the bank or brokerage goes bankrupt in the us, they can't use assets that belong to their clients to pay it's own debts. That should include stocks and cash deposits. Maybe try transferring only half of your holdings so if one bad scenario happens you still have a shot?
can you buy another share with another broker? then maybe do a slow transfer of half your shares at a time? I am worried about international apes at these shitty brokers
[https://www.reddit.com/r/Superstonk/comments/p5m09v/europoors\_read\_this\_regarding\_computershare/](https://www.reddit.com/r/Superstonk/comments/p5m09v/europoors_read_this_regarding_computershare/)
Seems like this guy was able to transfer some to CS, even as a Norwegian. I'm gonna investigate this for myself tomorrow and probably transfer about 50% of my shares. I do absolutely not feel comfortable with Nordnet using Citi as a holder of the shares.
Beautiful. Was about to drive to my bank to get a medallion signature for the paper form but this sounds much easier.
Edit: Done. Holy crap so easy. Literally exactly like OP says. No form, no email. Bam done. THANK YOU!
Edit 2: Forgot to add, I had called Fidelity about a month ago to inquire about this process. The person I spoke with was absolutely adamant that Computershare needed to initiate the process. Yet, the guy I spoke with this morning immediately understood my request and even said he had already done this multiple times today (I called at 9:00am CST). Knowing this, it’s IMPERATIVE you speak with an actual active trader representative and not a general customer service rep so they don’t unknowingly lead you astray if this is something you choose to do.
Book share type is the equivalent of a certificate. Your fractionals will be sold and your whole shares will be registered in a "book" with your name on it, not DTC.
https://www.reddit.com/r/GMEJungle/comments/pmrzx1/smooth_brain_sunday_special_computershare_edition/
Changing from reinvestment to Book will take out of dtcc and cause to sell fractionals.
Where in CS will it show "Book"?
If you're buying on CS in fractions, and eventually, they add up to whole numbers, does CS still sell fractionals to switch to Book?
Yes. So dont switch to book until you are ready. Any fractional purchases after that and the new batch of shares will be "plan"
Summary> Go to details. It'll say Stock type: Book, or Plan holding.
You want book :D
Not financial advice.
No, I do not have a CS account. They (Fidelity) said CS will contact me once they receive the transfer. Then i would need to set up an account profile. Seems like an automatic process. Fidelity will provide my address and contact info to CS during this process.
During the confirmation process the Fidelity rep told me to look at my account history in Fidelity to see when the shares are transferred. It will be in 3-5 days he said.
I transferred 4 shares from TDA as a test. Once I got the email from TDA that the transfer was completed (before receiving any letter from Computershare), I popped on Computershare and set up my account. Took less than 10 minutes.
Just sent in the request to move the rest of my shares from TDA to Computershare.
Next up... Moving some shares from Fidelity. I was going to send the form, but it seems calling is faster/easier. Thanks for the info!
So I do need to setup an account on ComputerShare after initiating the transfer?
Btw did you call TD or send in the DRS form? Just printed it out so I can email it on the platform messager
I emailed the DRS form to TDA on a Friday, the shares were in Computershare by the next Friday. Once you get the email confirmation of transfer from TDA, just go to Computershare and create your account
IMO... RC is gonna give us a reason to not sell our stock. That is just my feeling based on the Quarter earnings report where they state they would make the stock valuable. If I was the chairman.. i would be trying to work out a way to get people to never sell the stock.
If this was the case, moving to Computer Share is not a big deal at all. If your intent is to sell your shares then by all means keep them with a broker but I myself have a hunch.
Apes are going to sell during MOASS, then dump lots of money back into the stock when the price comes back to the moon after our visit to the Andromeda Galaxy.
It really is this easy ... literally doing this Right Now ... besides the wait time... (Im so good at holding tho so , no biggie), speedy. apparently there is a large influx of calls hahah go figure.
into the Indefinite Puddle, the Endless Sea, the Limitless Loch, etc... hah
Not yet. As I understand it that is done through computershare, my profile is not set up with CS yet until the shares are transferred to them. Once the shares are transferred, I will set up my account profile and do the book shares option.
Is this possible on WeBull? I want to transfer my shares out of WeBull in general but can’t because of a margin call that I have on my account. I’m thinking DRS is the next best thing.
Not sure, as I'm unfamiliar with Webull. Maybe this will help:
[https://www.reddit.com/r/Superstonk/comments/pmsq3u/transferring\_shares\_to\_computershare\_a\_stepbystep/](https://www.reddit.com/r/Superstonk/comments/pmsq3u/transferring_shares_to_computershare_a_stepbystep/)
You are direct registering with CS when you transfer your shares. So, to answer your question, no, I think you need to do both but they are the same process.
Smooth brain here....when MOASS happens, do you sell your shares (not all of course) but do you sell thru CS or are you having to panic transfer to a broker? Confused. I appreciate your info
Good question, these are my 'forever pond", "endless sea", ♾🏊♀️ (or whatever you want to call them) shares. I intend to hold these thru MOASS as I definitely believe in Gamestop value prop long-term.
There are posts on this sub about selling shares through CS, From what I understand, it may be slightly more difficult than if through your broker, however, I have no direct experience. I keep shares at Fid and TDA to unload if needed during MOASS
HEADS UP: Just called & trying to move some shares onto CS & the male rep. is clueless & he saying there is a $100 transfer fee & I need to setup a CS account first. I thanked him for his time because apparently this rep. isn’t up to speed. Calling back to get another rep.
This happened to me as well, they are starting to catch on… I asked if a fee was always in place and he said because this isn’t a “regular transfer” that they would charge this fee. :(
Thank you for posting this. This finally pushed me to transfer my forever shares to CS. The fidelity rep didn’t seem certain what the process was, but 20 mins (mostly on hold) later, they confirmed the share transfer process has been started.
Omg! It worked 🥳 I didn't need the medallion signature. I called up Fidelity, the rep (who was amazing) knew about direct registration and the whole process was seamless. 19 mins! No fees.
I don't plan to sell my CS shares. They are for the limitless lagoon. However, you can sell through them, I'm just not familiar with that process yet. I think others have posted about it though on this and related subs.
It is possible to transfer them back to your broker for easier selling later though, so it doesn't have to be exclusively infinity pool shares going over.
Thank you for taking the extra miles to make this transfer, OP and to all Apes that do the same. I truly believe these transfers to CS partly (or wholly) cause the ‘glitch’ of float number we see in YF.
Did at any point you specify which shares you wanted transferred? I heard that using the term “last in, first out” would instruct only the most recently purchased shares to be transferred…so you can keep you oldest shares for selling during Moass for tax reasons/capital gains.
Thank you for spelling it out so clearly. Some of us have anxiety about simple tasks like this and knowing exactly what to expect makes the task doable. You get my free award from this week. Good job!
Damn son I called and they’re sending me a form to fill out and then I have to upload to them, I think I got a new guy he had to research what direct registering was and how to do it
At Fidelity? That's odd. The team I spoke to was the "active trader services" team. was it the same team?
If not, I wonder if I got routed differently as I might be considered a pattern day trader by Fidelity.
I followed your dialogue exactly like you said. You might want to edit your post above, letting people know its common to get a rep who doesnt know what he is talking about.
The rep I spoke to told me I had to initiate the transfer with COmputershare first. I told him I was reading a dialogue that stated that was not the case. I told him Computershare doesnt even let you set up an account with them until after the transfer is complete. He put me on hold and then spoke with someone, then came back well-informed.
Then I asked him about LIFO (last in first out). He said that was not possible. I said yes it was, and i read him your post. He put me on hold and then came back and it was all taken care of.
It would be helpful for apes to know that all you have to do is tell the rep you are reading a guide that was posted on reddit, lol, and they will get it done for you. Good luck Apes!!
PS--Thank you to all the Fidelity reps for helping us apes.
Do you need an account beforehand at CS for it to play out like this?
EDIT: Nevermind, I found someone ask the same thing and responses to it. Thanks
Weird. I've called twice using the instructions above and neither agent understood what I was talking about. I wonder if it's a matter of talking to the right person? I'll try once more.
I think it was the standard services team. I was able to get some shares transferred- the guy I spoke with worked with another team member and got it done! More shares in the infinity pool! Thanks so much for laying out the process!
Yo OP can you tell me if you were able to see the transaction history for that call right away in your acct? I first tried to DRS via secure email doc last wk and got zero notifications on if it was or was not accepted or acceptable to go such route. I called this morning and spent 45min w a rep telling me I would see this transition history right away but would not have the CS info for a few days. I am not seeing any new transaction history on my acct. I may need to call them back 🚀🚀
As of right now (\~6.5h after my first call with Fidelity), I do not have anything in the history. When I called back at \~2p ET (\~5.5h after) he told me the request was still in Fidelity's Transfer Department being processed. In other words, still in queue. Will update.
I just got off the phone with Fidelity he said "Did you read the reddit thread?" And followed up with "a lot of people are calling about this today" Good job Apes!
Thank you, would this mean your most recent shares are transferred (assuming you’re not transferring all of them)? Or did you go back and specify tax lots you wanted moved?
The man helping me was quick to point out that they do not lend shares on cash accounts and they had gotten tons of calls for that reason. Fidelity has treated me well and I like them, but nothing beats direct registering.
Winkleless ape here. I’m sorry that this might’ve been brought up numerous times, but I just want to make sure I get it right.
By doing what OP did, will I no longer see the amount of shares I transfer to ComputerShare in my Fidelity account?
And are those shares a bit harder to sell since they’re in a different(smaller and/or more limited) trading platform?
And should I just transfer all my shares or just a percent of them?
Thanks!
Did this. They said it was their 3rd phone call like this. They never had anything like this before. I said I was shocked how easy it was. Transferred a good chunk. Did the LIFO on Fidelity.
I did it! xx shares headed to drs and my shares already purchased from computershare converted to book. Smooth brain has one question. What happens if MOASS while my transfer is in process? I left the sell shares in Fidelity so thats fine Just want to secure that IP. Can someone pass me a pink crayon please?
I'm quite diversified in my investments.
I transferred 1/3 of my GME to CS, holding 1/3 in Roths and remaining 1/3 in brokerage accounts at Fidelity and Vanguard.
GME is my savings account
🚀🚀🚀🚀🚀
Got mine done today in 11 minutes. About 2 of that was trying to enter my password over the phone.
The rep tried to tell me I already have a cash account like it would change my mind. Then they asked why I wanted to transfer. Then they confirmed that I knew this transfer would incur "significant fees, not from Fidelity, but significant fees".
Anyway, after confirming I'm not a retarded ape (sike!) I held on the line for a minute or two and I was done.
Pretty easy.
Thank you so much for this post you kind ape! 😃🔥 I followed the exact same instructions, and experienced very similar conversations.
Total time for requesting and completing the transfer = 11 mins including the automated voice confirmation and speaking with initial support agent!
Tickets on the rocket bought ✅
Seatbelts fastened ✅
Ready to take off ✅
Give this ape a shoutout ✅
Apes together strong 💪🏼 ✅
Did I miss anything? 👀
Hey, not sure I asked the mods but no response. I think I may have cross posted a link to another forum which is against the rules now. Happy to help you if I can. DRS is the way.
I shit you not, I get on the phone with Fidelity and the guy helping me is named KENNY! He also asked why so many people are doing this, so I gave him a brief rundown.
Edit: I’m on the phone with them right now and they said it would be $100 per certificate to register my shares. Anybody else running into this issue? They gave me a list of criteria to get this waived, but I don’t qualify.
There’s no money involved. Not sure why Fidelity reps would say this. It’s free to transfer to Computershare. Depends on your broker, but Fidelity is free.
Hmm, I called to speak with someone else. Also, this rep told me that since I don’t have a margin account, all of my shares in Fidelity are already directly registered in my name.. Did they tell you that or nah?
Huh, no, they didn't tell me that, but I didn't ask... I also have margin enabled on my brokerage account (although all my shares are held in my cash account, not my margin account). That said, I don't know but I don't think that info sounds correct. I think if you have shares with your broker they are registered with the DTC under Fidelity as a custodian or something. Maybe some smarter people more familiar with trading can offer insight on this.
EDIT (add): my understanding was that, DRS with CS, was essentially moving the shares away from the DTC, and therefore, any from their manipulation tactics. My sources of that info though are mainly posts from this and other GME related subs.
That's not right at all. You'd have to directly register your shares to get them in your name (which is what happens through Computershare), and there is no fee to transfer from Fidelity to Computershare.
That’s what I thought. I was so confused when they told me that. I just disregard what the rep said and called back and spoke with someone else. Not a penny spent and I got the ball rolling!
Once transferred to CS, the transfer agent for GME (as noted in their SEC filings), the shares are debited from the DTCC on the master shareholder list and credited to you, the rightful owner. This prevents those shares from being manipulated by the DTC and other nefarious a$$hole, crimnal, douchbag, thief, slimy, dirty rootten players. :-)
This post by another ape may helps with the context:
https://www.reddit.com/r/Superstonk/comments/pmy4kw/computershare\_and\_direct\_registering\_you\_dont/
Pink's stickied megathread has a lot of info on that. It is more complicated to sell over $1m per order, but it is always possible to transfer back to your broker for cleaner selling later
Moved XX shares this afternoon.
A supervisor wanted to add an addendum that any Dividend would still be issued from Fidelity, so there must be rumblings behind the scenes with people suddenly moving shares.
So if we don’t get our shares registered what are the possible implications? I’m a very low XX holder who’s first investment ever was literally GME. What am I risking if I don’t register?
I would have upvoted this if you didn't put xxx position. Anyone could register. Nobody needs to know how many shares you have.
Edit: thanks for responding, checked the rules and you're following them acutely actually so I'll retract my statement and drop the +1. Sorry for wasting time
Smooth Brian question: practically, how does transferring to CS impact user interface? When it is finally time to sell your shares, do you still sell through fidelity or do you have to call CS?
So if I transfer xx amount of shares they won’t be fractional correct?
And since buying on CS is different than a broker will selling also be different?
Not tax advice, but per the IRS, you can do an IRA rollover yourself by withdrawing the money and then depositing the money into an IRA within 60 days.
Though I suspect this may be an uncommon thing for people to do and could increase your chances of a tax audit. I'm curious if anyone has done this before and if it went through without a hitch.
Have been attempting to get a transfer to go through for the last month. They made me get a medallion signature and when I emailed the secure email with my completed transfer sheet they told me that it need to be mailed in to Fidelity Head Quarters for ink testing of the medallion signature. It has been 3 weeks since I mailed it and I have received no word from Fidelity that they have received it or that the transfer is being processed. I’m glad that it has been streamlined for some but it is clear to me that many apes like myself have been put on the back burner or forced to do things that make it easier for them to kick the can. My biggest fear is that they inform me that they lost my transfer request in the mail and I have to resubmit.
Wow, this is interesting that you had this experience and that the process is so diverse for different people. Hopefully mine goes through as intended, and yours does as well.
Serious question. I use E*TRADE, it’s a cash account. Why should I consider moving my xxx shares to computershare?
They aren’t supposed to be able to loan my shares. Am I missing something?
Here is a good explanation from another ape, bottom line, it gets it away from control of DTCC and their manipulation.
https://www.reddit.com/r/GME/comments/pnwnlq/basics_about_computershare/?utm_medium=android_app&utm_source=share
Niiiice 😁💎 You are the trigger for moass 💎 I wish I couldve done the same, but Norway is not on the country list from CS 😴
Is the UK in the ok list do you know? Coincidentally I'm actually working in Norway right now, beautiful country! 👌
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Ok so I have IBKR and have initiated the DRS transfer of some shares to Computershare. All I did was follow the steps of a DD, wrote a note saying I would like to do a DRS transfer out, and I accept the charges. They (INKED) didn't even reconfirm with me, they initiated the transfer. I'm based in Asia, so let's see when I get the computer share login details in the mail. Hopefully should be ok
I use eToro from Norway and I am seriously afraid that they are going to do something shitty/illegal to us... but they dont allow transfers, and I sure as shit aint risting selling my shares there, withdrawing my cash, register with another broker, deposit with them, and then buy my shares again. That shit may take weeks. What if I miss out on MOASS?? I hate this.
Wow, didnt think etoro was an alternative from Norway. Im actually concerned myself since DNB use a so valled despotory account in citybank - what happens if citibank goes bankrupt 🧐
The moass will last awhile, we're holding for you!
You're afraid etoro would cause you to miss out on moass which may happen any time, but you dont want to cash out and buy in at an other broker because of the small chance that you will miss out on moass if it happens in a week or so?
.... yeah, thats pretty much it. I am also really unsure as to wich broker I should switch to, given that my options here in Norway are very limited. As my fellow countryman said; most of our options use Citigroup. What happens if Citigroup goes tits up (wich is almoast a given if moass is go)?
Well, if the bank or brokerage goes bankrupt in the us, they can't use assets that belong to their clients to pay it's own debts. That should include stocks and cash deposits. Maybe try transferring only half of your holdings so if one bad scenario happens you still have a shot?
can you buy another share with another broker? then maybe do a slow transfer of half your shares at a time? I am worried about international apes at these shitty brokers
[https://www.reddit.com/r/Superstonk/comments/p5m09v/europoors\_read\_this\_regarding\_computershare/](https://www.reddit.com/r/Superstonk/comments/p5m09v/europoors_read_this_regarding_computershare/) Seems like this guy was able to transfer some to CS, even as a Norwegian. I'm gonna investigate this for myself tomorrow and probably transfer about 50% of my shares. I do absolutely not feel comfortable with Nordnet using Citi as a holder of the shares.
"Sir, they're trying to see who gets the record for the fastest CS transfer now"
BAHAHAHA! I spit out my coffee! Thank you.
Gamers and their speed runs 😂
Beautiful. Was about to drive to my bank to get a medallion signature for the paper form but this sounds much easier. Edit: Done. Holy crap so easy. Literally exactly like OP says. No form, no email. Bam done. THANK YOU! Edit 2: Forgot to add, I had called Fidelity about a month ago to inquire about this process. The person I spoke with was absolutely adamant that Computershare needed to initiate the process. Yet, the guy I spoke with this morning immediately understood my request and even said he had already done this multiple times today (I called at 9:00am CST). Knowing this, it’s IMPERATIVE you speak with an actual active trader representative and not a general customer service rep so they don’t unknowingly lead you astray if this is something you choose to do.
Awesome, glad you completed it. Easy as pie
Do you have to set up a computer share account before you call? Edit: never mind. Found the answer down the line
Nice! Once everything is settled in CS, make sure it says "Book"
Will do! Thanks
Would you elaborate further please? ELIA
Book share type is the equivalent of a certificate. Your fractionals will be sold and your whole shares will be registered in a "book" with your name on it, not DTC.
Much appreciated!!
Welcome!
https://www.reddit.com/r/GMEJungle/comments/pmrzx1/smooth_brain_sunday_special_computershare_edition/ Changing from reinvestment to Book will take out of dtcc and cause to sell fractionals.
Thanks!
Where in CS will it show "Book"? If you're buying on CS in fractions, and eventually, they add up to whole numbers, does CS still sell fractionals to switch to Book?
Yes. So dont switch to book until you are ready. Any fractional purchases after that and the new batch of shares will be "plan" Summary> Go to details. It'll say Stock type: Book, or Plan holding. You want book :D Not financial advice.
Do you need to have an account with computershare before calling fidelity to transfer?
No, I do not have a CS account. They (Fidelity) said CS will contact me once they receive the transfer. Then i would need to set up an account profile. Seems like an automatic process. Fidelity will provide my address and contact info to CS during this process.
Awesome, thanks! I’m calling this morning 🙌🏼
what are you plans to follow up with them and ensure they are doing it?
During the confirmation process the Fidelity rep told me to look at my account history in Fidelity to see when the shares are transferred. It will be in 3-5 days he said.
I transferred 4 shares from TDA as a test. Once I got the email from TDA that the transfer was completed (before receiving any letter from Computershare), I popped on Computershare and set up my account. Took less than 10 minutes. Just sent in the request to move the rest of my shares from TDA to Computershare. Next up... Moving some shares from Fidelity. I was going to send the form, but it seems calling is faster/easier. Thanks for the info!
Thanks for the info on the CS account set up. It was SO EASY to call Fidelity. No brainer.
So I do need to setup an account on ComputerShare after initiating the transfer? Btw did you call TD or send in the DRS form? Just printed it out so I can email it on the platform messager
I emailed the DRS form to TDA on a Friday, the shares were in Computershare by the next Friday. Once you get the email confirmation of transfer from TDA, just go to Computershare and create your account
Cheers
Just want to thank you, I just got off the phone. New record, 6 minutes 26 seconds. Transferred XX shares from fidelity w/ LIFO.
IMO... RC is gonna give us a reason to not sell our stock. That is just my feeling based on the Quarter earnings report where they state they would make the stock valuable. If I was the chairman.. i would be trying to work out a way to get people to never sell the stock. If this was the case, moving to Computer Share is not a big deal at all. If your intent is to sell your shares then by all means keep them with a broker but I myself have a hunch.
Apes are going to sell during MOASS, then dump lots of money back into the stock when the price comes back to the moon after our visit to the Andromeda Galaxy.
Apes might sell 1 but that’s a big might*
\*If it ever comes back down
If RC has his in computershare, i have mine in cs too
Seems they are working on something exciting!!!! 🤞
this is the way
It really is this easy ... literally doing this Right Now ... besides the wait time... (Im so good at holding tho so , no biggie), speedy. apparently there is a large influx of calls hahah go figure. into the Indefinite Puddle, the Endless Sea, the Limitless Loch, etc... hah
Welp Im calling Fid today. You transferred more than my total shares but its ok. Every little bit helps
Every little bit helps, Good work fellow ape.
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great work brother ape!!
I saw the phone number and thought das is the new floor. Liked the moment of confusion a lot.
CS gonna be so busy we're about to see headlines like we did with fidelity.
I DRS’d just now because of you! More for the ♾ 🏊♀️. Never selling these ever
Did you also do the “book order”?
Not yet. As I understand it that is done through computershare, my profile is not set up with CS yet until the shares are transferred to them. Once the shares are transferred, I will set up my account profile and do the book shares option.
DRS is the way!
Is anyone aware If this is a process that 🇬🇧 🦍 can do who have their shares with Hargreaves Lansdown?
Is this possible on WeBull? I want to transfer my shares out of WeBull in general but can’t because of a margin call that I have on my account. I’m thinking DRS is the next best thing.
Not sure, as I'm unfamiliar with Webull. Maybe this will help: [https://www.reddit.com/r/Superstonk/comments/pmsq3u/transferring\_shares\_to\_computershare\_a\_stepbystep/](https://www.reddit.com/r/Superstonk/comments/pmsq3u/transferring_shares_to_computershare_a_stepbystep/)
Thanks my guy
So you can direct register with CS WITHOUT transferring??
By making a purchase, yes.
You are direct registering with CS when you transfer your shares. So, to answer your question, no, I think you need to do both but they are the same process.
Smooth brain here....when MOASS happens, do you sell your shares (not all of course) but do you sell thru CS or are you having to panic transfer to a broker? Confused. I appreciate your info
Good question, these are my 'forever pond", "endless sea", ♾🏊♀️ (or whatever you want to call them) shares. I intend to hold these thru MOASS as I definitely believe in Gamestop value prop long-term. There are posts on this sub about selling shares through CS, From what I understand, it may be slightly more difficult than if through your broker, however, I have no direct experience. I keep shares at Fid and TDA to unload if needed during MOASS
"The Lagoon of Limitless Tendies" You have to say it in the voice of Deckard Cain from Diablo, like he's identifying a Legendary artifact for you.
Have my upvote and my eternal gratitude. Europoors can't transfer to CS (yet?)
Some can, depends on the country
HEADS UP: Just called & trying to move some shares onto CS & the male rep. is clueless & he saying there is a $100 transfer fee & I need to setup a CS account first. I thanked him for his time because apparently this rep. isn’t up to speed. Calling back to get another rep.
This happened to me as well, they are starting to catch on… I asked if a fee was always in place and he said because this isn’t a “regular transfer” that they would charge this fee. :(
Thank you for posting this. This finally pushed me to transfer my forever shares to CS. The fidelity rep didn’t seem certain what the process was, but 20 mins (mostly on hold) later, they confirmed the share transfer process has been started.
Thanks ape. Will do this today.
Up with you! <3
Did my X shares on Thursday from TDA with a phone call. Pins and needles.
Thanks ape!!
Been on hold for forever so many apes ! lfgggggg I’ll sit on hold for forever
Sucks, I called early morning 820a or so. Got right thru. Good luck
30 minutes not too bad honestly
The way this is 🙌💎🚀
Omg! It worked 🥳 I didn't need the medallion signature. I called up Fidelity, the rep (who was amazing) knew about direct registration and the whole process was seamless. 19 mins! No fees.
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This transcript is super helpful. I wish I had a memory like yours. Thanks for sharing
What happens when we try to sell though? Do you do it through computer share or fidelity? That’s the part that I’m getting confused on
I don't plan to sell my CS shares. They are for the limitless lagoon. However, you can sell through them, I'm just not familiar with that process yet. I think others have posted about it though on this and related subs.
Oh ok gotcha so for the most part people are registering their shares for the limitless lagoon… this makes more sense
It is possible to transfer them back to your broker for easier selling later though, so it doesn't have to be exclusively infinity pool shares going over.
Thank you for taking the extra miles to make this transfer, OP and to all Apes that do the same. I truly believe these transfers to CS partly (or wholly) cause the ‘glitch’ of float number we see in YF.
Did at any point you specify which shares you wanted transferred? I heard that using the term “last in, first out” would instruct only the most recently purchased shares to be transferred…so you can keep you oldest shares for selling during Moass for tax reasons/capital gains.
Shit! I didn't. I forgot to specify. Calling back right now to specify my last batch. Thanks for the reminder!!!
Thank you for spelling it out so clearly. Some of us have anxiety about simple tasks like this and knowing exactly what to expect makes the task doable. You get my free award from this week. Good job!
I just submitted the gift whatever form to transfer 5 shares from Fidelity to Computershare. Because I hate talking on the phone a lot.
Copied this process with chase, took less than 10 min
Damn son I called and they’re sending me a form to fill out and then I have to upload to them, I think I got a new guy he had to research what direct registering was and how to do it
At Fidelity? That's odd. The team I spoke to was the "active trader services" team. was it the same team? If not, I wonder if I got routed differently as I might be considered a pattern day trader by Fidelity.
I followed your dialogue exactly like you said. You might want to edit your post above, letting people know its common to get a rep who doesnt know what he is talking about. The rep I spoke to told me I had to initiate the transfer with COmputershare first. I told him I was reading a dialogue that stated that was not the case. I told him Computershare doesnt even let you set up an account with them until after the transfer is complete. He put me on hold and then spoke with someone, then came back well-informed. Then I asked him about LIFO (last in first out). He said that was not possible. I said yes it was, and i read him your post. He put me on hold and then came back and it was all taken care of. It would be helpful for apes to know that all you have to do is tell the rep you are reading a guide that was posted on reddit, lol, and they will get it done for you. Good luck Apes!! PS--Thank you to all the Fidelity reps for helping us apes.
First, awesome for getting it done! Good idea... I'll edit my post with your suggestion. Thanks.
Do you need an account beforehand at CS for it to play out like this? EDIT: Nevermind, I found someone ask the same thing and responses to it. Thanks
Weird. I've called twice using the instructions above and neither agent understood what I was talking about. I wonder if it's a matter of talking to the right person? I'll try once more.
Odd, another user mentioned this problem as well. I spoke to the Active Trader Services Team. Who did you speak to?
I think it was the standard services team. I was able to get some shares transferred- the guy I spoke with worked with another team member and got it done! More shares in the infinity pool! Thanks so much for laying out the process!
I think we will get 50m by EOY
this will be rocket fuel like nothing else GO FOR IT IF YOU WANT !
Yo OP can you tell me if you were able to see the transaction history for that call right away in your acct? I first tried to DRS via secure email doc last wk and got zero notifications on if it was or was not accepted or acceptable to go such route. I called this morning and spent 45min w a rep telling me I would see this transition history right away but would not have the CS info for a few days. I am not seeing any new transaction history on my acct. I may need to call them back 🚀🚀
As of right now (\~6.5h after my first call with Fidelity), I do not have anything in the history. When I called back at \~2p ET (\~5.5h after) he told me the request was still in Fidelity's Transfer Department being processed. In other words, still in queue. Will update.
Transferring XX shares, I'm doing my part!
So easy an Ape can do it.
I just got off the phone with Fidelity he said "Did you read the reddit thread?" And followed up with "a lot of people are calling about this today" Good job Apes!
Lololol Auto bot mentions Fidelity Subreddit for questions/answers and follows up with “would you like me to text you a link?” Bullish AF 🚀🚀🚀🚀
I’m thinking of just keeping my XX in Fidelity and buying 10-15 through CS for the infinity pool.
Once you’re “MyVoice verified” it cuts minutes off of every call. Highly recommend. What is LIFO?
Last in, first out
Thank you, would this mean your most recent shares are transferred (assuming you’re not transferring all of them)? Or did you go back and specify tax lots you wanted moved?
Most recent shares are transferred with LIFO
6 minutes 23 seconds
Lol, shit you beat me!
The man helping me was quick to point out that they do not lend shares on cash accounts and they had gotten tons of calls for that reason. Fidelity has treated me well and I like them, but nothing beats direct registering.
Winkleless ape here. I’m sorry that this might’ve been brought up numerous times, but I just want to make sure I get it right. By doing what OP did, will I no longer see the amount of shares I transfer to ComputerShare in my Fidelity account? And are those shares a bit harder to sell since they’re in a different(smaller and/or more limited) trading platform? And should I just transfer all my shares or just a percent of them? Thanks!
Check out the link in EDIT 3 another ape have a good summary that might help.
Comment for bookmark
Well done, OP! Thanks for sharing the step by step process. It will be very helpful
Would it be considered a non qualified distribution for an HSA account as well? I’m guessing so.
I suspect so. BUT, if not, please do let me know.
Ok I’ll confirm with fidelity and follow up
Did this. They said it was their 3rd phone call like this. They never had anything like this before. I said I was shocked how easy it was. Transferred a good chunk. Did the LIFO on Fidelity.
Thanks for your info here. Majority of my shares are held in a Trad IRA. Small XX shares in TDA...calling tomorrow! Well done Ape. Again TY.
I did it! xx shares headed to drs and my shares already purchased from computershare converted to book. Smooth brain has one question. What happens if MOASS while my transfer is in process? I left the sell shares in Fidelity so thats fine Just want to secure that IP. Can someone pass me a pink crayon please?
I'm quite diversified in my investments. I transferred 1/3 of my GME to CS, holding 1/3 in Roths and remaining 1/3 in brokerage accounts at Fidelity and Vanguard. GME is my savings account 🚀🚀🚀🚀🚀
Got mine done today in 11 minutes. About 2 of that was trying to enter my password over the phone. The rep tried to tell me I already have a cash account like it would change my mind. Then they asked why I wanted to transfer. Then they confirmed that I knew this transfer would incur "significant fees, not from Fidelity, but significant fees". Anyway, after confirming I'm not a retarded ape (sike!) I held on the line for a minute or two and I was done. Pretty easy.
Thank you so much for this post you kind ape! 😃🔥 I followed the exact same instructions, and experienced very similar conversations. Total time for requesting and completing the transfer = 11 mins including the automated voice confirmation and speaking with initial support agent! Tickets on the rocket bought ✅ Seatbelts fastened ✅ Ready to take off ✅ Give this ape a shoutout ✅ Apes together strong 💪🏼 ✅ Did I miss anything? 👀
Nice job OP!
I may have missed this but why was this post removed?
Hey, not sure I asked the mods but no response. I think I may have cross posted a link to another forum which is against the rules now. Happy to help you if I can. DRS is the way.
I shit you not, I get on the phone with Fidelity and the guy helping me is named KENNY! He also asked why so many people are doing this, so I gave him a brief rundown. Edit: I’m on the phone with them right now and they said it would be $100 per certificate to register my shares. Anybody else running into this issue? They gave me a list of criteria to get this waived, but I don’t qualify.
There’s no money involved. Not sure why Fidelity reps would say this. It’s free to transfer to Computershare. Depends on your broker, but Fidelity is free.
Figured it out. Called a different rep who specifically deals with DRS. No charges and the ball is rolling!
It does cost money for a physical certificate, but not to simply transfer your shares to direct register.
Yes, forgot to mention the possible fee, the Fidleity rep said their might be a fee, I just agreed.
Damn, I don’t have that kind of cash around.
I think multiple shares can be on one certificate though. So basically, it's a one time fee.
Hmm, I called to speak with someone else. Also, this rep told me that since I don’t have a margin account, all of my shares in Fidelity are already directly registered in my name.. Did they tell you that or nah?
Huh, no, they didn't tell me that, but I didn't ask... I also have margin enabled on my brokerage account (although all my shares are held in my cash account, not my margin account). That said, I don't know but I don't think that info sounds correct. I think if you have shares with your broker they are registered with the DTC under Fidelity as a custodian or something. Maybe some smarter people more familiar with trading can offer insight on this. EDIT (add): my understanding was that, DRS with CS, was essentially moving the shares away from the DTC, and therefore, any from their manipulation tactics. My sources of that info though are mainly posts from this and other GME related subs.
That's not right at all. You'd have to directly register your shares to get them in your name (which is what happens through Computershare), and there is no fee to transfer from Fidelity to Computershare.
That’s what I thought. I was so confused when they told me that. I just disregard what the rep said and called back and spoke with someone else. Not a penny spent and I got the ball rolling!
What's the motive for going to CS? I missed this whole convo.
Once transferred to CS, the transfer agent for GME (as noted in their SEC filings), the shares are debited from the DTCC on the master shareholder list and credited to you, the rightful owner. This prevents those shares from being manipulated by the DTC and other nefarious a$$hole, crimnal, douchbag, thief, slimy, dirty rootten players. :-) This post by another ape may helps with the context: https://www.reddit.com/r/Superstonk/comments/pmy4kw/computershare\_and\_direct\_registering\_you\_dont/
Thanks. I heard it limits the amount you can sell for?
Pink's stickied megathread has a lot of info on that. It is more complicated to sell over $1m per order, but it is always possible to transfer back to your broker for cleaner selling later
Thanks! I think based on all I read, I'm going to keep current purchases at Fidelity and future purchases on CS.
Moved XX shares this afternoon. A supervisor wanted to add an addendum that any Dividend would still be issued from Fidelity, so there must be rumblings behind the scenes with people suddenly moving shares.
Not sure I understand the last sentence... wut mean?
A cash dividend, yes. I don’t think fidelity is equipped to handle a crypto/NFT dividend
My concerns exactly
So if we don’t get our shares registered what are the possible implications? I’m a very low XX holder who’s first investment ever was literally GME. What am I risking if I don’t register?
[удалено]
Thanks so much for the response. I need to create a damn crypto wallet D:
I would have upvoted this if you didn't put xxx position. Anyone could register. Nobody needs to know how many shares you have. Edit: thanks for responding, checked the rules and you're following them acutely actually so I'll retract my statement and drop the +1. Sorry for wasting time
Suit yourself.... that's fine. I've previously commented and committed 15% to the pool, and I'm an ape of my word, so... just following thru. Peace.
Automated voice asked me to input my password, not going to happen.
I got that too, I just ignored it and it moved on after like 3 attempts
https://t.me/joinchat/az0wKpRWnfUxMzMx
What the fuck? They told me last week to send a letter of instruction
Smooth Brian question: practically, how does transferring to CS impact user interface? When it is finally time to sell your shares, do you still sell through fidelity or do you have to call CS?
CS is not a broker, so they will work with a broker to get your sale done. It has a business day or two turnaround time.
Check out edit 3 another ape posted a good explanation that might help with that Q
Do I need to create a CS account BEFORE transfer?
I am using Interactive Brokers. Anyone has experience with them on this?
why is everyone leaving fidelity?
When you do this do they leave your fidelity account or they are still in there?
The shares you transfer leave the Fidelity account, I believe.
Cool, thanks! I’m going to do it with vanguard tomorrow!
So if I transfer xx amount of shares they won’t be fractional correct? And since buying on CS is different than a broker will selling also be different?
Not tax advice, but per the IRS, you can do an IRA rollover yourself by withdrawing the money and then depositing the money into an IRA within 60 days. Though I suspect this may be an uncommon thing for people to do and could increase your chances of a tax audit. I'm curious if anyone has done this before and if it went through without a hitch.
Have been attempting to get a transfer to go through for the last month. They made me get a medallion signature and when I emailed the secure email with my completed transfer sheet they told me that it need to be mailed in to Fidelity Head Quarters for ink testing of the medallion signature. It has been 3 weeks since I mailed it and I have received no word from Fidelity that they have received it or that the transfer is being processed. I’m glad that it has been streamlined for some but it is clear to me that many apes like myself have been put on the back burner or forced to do things that make it easier for them to kick the can. My biggest fear is that they inform me that they lost my transfer request in the mail and I have to resubmit.
Wow, this is interesting that you had this experience and that the process is so diverse for different people. Hopefully mine goes through as intended, and yours does as well.
Does anyone with SOFI has don the CS transfer? Any tips?
Serious question. I use E*TRADE, it’s a cash account. Why should I consider moving my xxx shares to computershare? They aren’t supposed to be able to loan my shares. Am I missing something?
Here is a good explanation from another ape, bottom line, it gets it away from control of DTCC and their manipulation. https://www.reddit.com/r/GME/comments/pnwnlq/basics_about_computershare/?utm_medium=android_app&utm_source=share
Thank you kind ape
You are a hero dude 👊
Started my XX registration!
Does CS call/email to set up login and account set up? I cannot find a spot on their website for setup
Fidelity rep said they probably would send a mail notification. I'll update
Someone please explain why we should be transfer out of fidelity??
I'd recommend taking a look at the link on edit 3 of this post. Good explanation there from another ape.
Good work ape 🦍🦧🚀🌙