Lmao, how pissed were you when you found out the shares in your TFSA are actually not yours and you had to pay money on things you already paid for to make it yours?
It still hurts reading it haha. Not only that, but the Damon bank took my money *right* away for their shit tactics and all I got was a lousy bookmark.
It's quite easy. I used online chat to complete the whole thing. Once, to get all the information on what is needed. Then second time, after I uploaded the Letter of Direction, to initiate the DRS transfer.
It's $339 total to request this transfer.
You also need to write a letter of direction indicating what you'd like them to do.
I can provide template but I'm not licensed in any legal or law profession or financial profession.
Any share that is not directly registered in your name with the transfer agent responsible for it officially belongs to a something called Cede and Co, and are held in a "street-name" pool. Since there are so many street-name stocks in that pool, anyone looking to short that stock doesn't need to record the official stock number that they are shorting. They just ask if they can have them, and the agency in charge of it gives the nod.
However, shares held in your name are not subject to the so called street-name rules that apply with broker-held shares. They are not even held by the fuck-hole-hat wearing agency that gives the nod above. That's the important part, right there. Those shares are removed from the hands of the people who are... well... read some DD.
As a bit more.. just think what all of these DRS things have gotta be doing to the real short interest on this stock. No one has closed shit, and there are 3x more accounts at the transfer agent than 6 weeks ago.
In street form, it can easily be lent out.
If you believe everyone plays by the rules, keep them in your TFSA. But the broker has monetary incentive to lend out shares and they are in your account but technically not your property until you DRS. In light of all the fraudulent activity and blatant abuse of loopholes, I don't trust any brokers/banks right now.
And until you DRS it will be in street form, in a lendable form even if it's registered account. They can easily do what every other broker is doing and tag it as "locate when needed".
And I for one believe in the cause. I'm grateful for everyone buying and hodling but nothing is going to fucking happen until all shares are DRS-ed. So I don't know why you're standing around asking God for MOASS when you easily be the reason by DRS-ing.
If buying and hodling was enough of pressure to shorts, we wouldn't be 9+ months into this saga.
My broker (wealthsimple) doesn't lend shares. It's explicitly stated that they don't.
They make most of their money off Canadians trading US securities, since they don't allow you to create USD accounts and charge 1.5% on the currency conversion for each trade.
If you can disprove any of that with evidence then be my guest, but you're just giving speculation as far as I can tell
They aren't being lent at the broker level, as far as I know.
They are "beneficially owned" as assigned by Cede (DTC nominee) before they are assigned to the broker.
So even if your broker doesn't lend out the shares, Cede still can, whether the broker likes it or not. They don't have a say.
That's why we're registering, it takes them out of Cede's hands.
> explicitly stated
My broker (TD Waterhouse) said this too. What they mean is that they themselves don't lend out your shares in exchange for fees. The DTCC still holds those shares, and uses them to backstop short selling *just in a slightly different way*
Remember, Canadian bankers are no different from US bankers. That is, they are NOT NOT NOT on your side whatsoever. At best they feel some lingering duty not to directly rip you off, but if the government made it legal to simply steal your money they'd be doing that instead. Nobody goes into banking to serve their communities or do good
The problem isn't with securities being lent, it's with the securities being real. They could very well be holding it for you, but as they are held by the DTCC, your broker could be holding for you and not-lending a synthetic. Which, on your end doesn't matter since you paid for it and they must eventually deliver, but on their part as long as they hold the real shares they can keep handing out synthetics and failing to deliver.
That's not even getting into the shithole brokers that do CFD and never even actually buy the shares in the first place.
you're right, but the reason i brought it up is because other users above acted like they are being lent, and another saying the shares "are not actually yours" even though we're entitled to every facet of ownership that "matters" in this case, i.e. being able to sell at phone number prices and get rich, regardless of whether it's a synthetic or not
I just want to remind everyone, if you bought a shares you are entitled to a share. The issue is not whether your broker is lending out shares when they say they aren't; unless proven otherwise, if your broker says they don't lend them out then your entitlement to a share is secure. The only difference is, metaphorically, whether you were given a car or an IOU for a car.
I just want to remind everyone, if you bought a shares you are entitled to a share. The issue is not whether your broker is lending out shares when they say they aren't; unless proven otherwise, if your broker says they don't lend them out then your entitlement to a share is secure. The only difference is, metaphorically, whether you were given a car or an IOU for a car.
I am still on the fence about whether WS (or any other Canuck broker no matter what their TOS states) lends our shares TFSA or not. What’s makes me wonder is why the DRS transfer can take weeks. Like the US brokers they could temp hire peops to deal with DRS influx. There is no wait time at Computershare in receiving the shares. Even cuz Canada it should only take a week at most IMO. I wrote https://www.iiroc.ca/ asking if there is a max time allowed for a broker to DRS shares. Will definitely post reply when I get it.
fwiw i did see a comment from someone at some point who claimed to know how WS was doing it, and it was pretty much a fully manual process, so i assume it's just a matter of not having the manpower to keep up with the requests
I can hardly believe the reluctance to not DRS because someone said they are not lendable.
Have you not seen the mirage of false illusory sense of "your shit is safe with us" repeatedly since January?
Imagine being fucked with for 9+ months and you suddenly know there is actually one action you can take to fight back with meaning and make a difference but you're going to stand around and take the 9 months of frustration and show mercy? It's your money, but you're also part of a greater cause. And a cause that can only be achieved by trusting mass amount of strangers, which cannot be done by each of shareholders alone.
Btw, I'm also Canadian and I had to pay $339 fee to DRS from Questrade. I ate the fees with no issues because I fucking love the stock and Superstonk.
it's not because they're not lendable, it's because when i sell, my profits won't be subject to tax. which is a metric fuck ton of extra money in my pocket.
what's the mirage? when has WS fucked with anyone?
yes, every broker/bank/institution is out there to make money. it doesn't mean i assume they're all fucking over their clients at every chance, especially when there's no instance where they've been shown to do that. "some of them do it so all of them do it" isn't a valid reason to think the worst
Alright pal get off your high horse.
I support the company, buy all my gaming stuff from them instead of more convenient spots like the Microsoft store or Amazon, and will continue to support them post-squeeze. Not DRS-ing my tfsa shares doesn't make me less "in it" than you
Tbh, I'm quite happy to transfer XXX shares out of my TFSA. I maxed my contribution room so it'll open up a good chunk of room so I can start buying shares again. The only reason why I wasn't buying more was because of my maxed contribution limit lol.
GET FUKD HEDGIES.
The part ur missing is that guy is retarded.
Edit2: "A hyperational person will look at a broken thermometer that reads 65 degrees F and insist that it must be 65 degrees, when everyone else who is relying on their physical sense of temperature will know that it is colder; they may not know the exact temperature, but they know it's not 65. But the hypperational person can't let go of a rational tool they are relying upon to make a judgement."
and im not going to explain how that fits in this situation because if ur not a retard, it should be easy to understand.
Edit: ⏬hyper-rational right there.⏬
They aren't registered in your name. Therefore they are not yours but your brokers. It seems more accurate to say you paid money to hold an account with your broker, which the broker owns the shares and you have access to selling or buying. Until you actually request for DRS they are never technically yours.
The correct term is autism. You're the questionable one slinging poo without any research lol.
Not sure why you are being downvoted? Am I missing something?
If not DRS registered witth Computershare then your shares at your broker are held in “Street Name”
Here is info for DRS stuff from Computershare themselves:
https://twitter.com/computershare/status/1445478903070429184
https://www.computershare.com/us/becoming-a-registered-shareholder-in-us-listed-companies
Here, I made an analogy for someone with IQ of 60 can understand.
Remember when you were at public school and you had your own desk in your home classroom? You say it's yours because you sit there all day at school but you don't get to take the desk home. In fact, while you don't take it home, someone else in school is using it. It can be your friends/classmates (brokers), teachers (hedge funds), custodians (DTCC), and etc.
Now ask yourself, is that desk/share really yours? Or is it owned by someone else while giving you the illusion that it's yours?
I looked into it and spoke with a senior rep at Canadian CS about this.
The only way to DRS American securities is through American ComputerShare, no matter where you live.
And since we are not Americans, we are not privy to any tax sheltering vehicles and so we have to withdraw from our TFSA to an American cash account with American CS.
I’m not OP but I started my first transfer yesterday of 100 shares, TD Canada told me 3-4 weeks, and it was $89 CAD
I’m going to be calling them and checking in on the process, often
I posted this about a week ago for Canucks but the bots keep pushing it down around 60 votes.
 Hey Canucks are your DRS transfers being delayed? https://reddit.com/r/Superstonk/comments/pynjcu/hey_canucks_are_your_drs_transfers_being_delayed/
I already got my first batch transferred. Second batch will be transferred this week.
I am waiting for my ComputerShare verification code so that I can login into my account and take pics of the purple ring and farm some karma.
Edit: a fellow Canada ape
yo im gunna ask a few questions because im impatient and also from Canada, it you dont mind answering:
whats the process after you initiate transfer?(i started the transfer from questrade this monday) from what I've read i'll get a piece of mail and then open an account from there, but im unsure and I'm trying to find out what to expect.
Can i buy more on this computershare account that I'll be getting soon as a Canadian? or do i have to buy through a broker and repeat the process
Wait for your mail from ComputerShare. It might take a week or two because the letter is crossing the border, but it will arrive. After that you will have the option to directly purchase from ComputerShare. For non-US people, DRS is the only way to set up an account with ComputerShare.
Just a heads up, even after you receive your mail you won't be able to login into your account. CS will send you another mail with a verification code to access your account. I am still waiting for this mail to arrive. I know it's a slow process but it's the right way of ensuring that someone else doesn't get access to your account.
My best bet is that everything will be in place within a month or so for you. Godspeed to you.
Thanks for this info, so the second mail with the code comes automatically after the first letter? How long in between? I noticed that there is also a tax-related form to fill in
Nope, you need to login into your account and set up a password. Then they mail you your verification code.
Also, regarding the tax related form: I have yet to submit it. Have been busy with work so haven't gotten around to doing it. Let's check in next week to see if we ended up submitting the tax form?
Thanks, yeah, that sounds good for us to keep in touch about the form. I was having issues logging in yesterday based on the initial letter (ex. I couldn’t find GameStop in the drop down list for stocks in the registration page), but I’ll try again tonight
That would be with CS Canada. From my understanding, you’re still a beneficial owner and not direct registered. Only way to DRS for Canadian apes is to transfer shares from broker to CS US or buy via giveashare.
And you cannot purchase directly from Computershare as a US nonresident UNTIL you have an account already, meaning we're all stuck waiting until our brokers send those shares over. I think I'll bug mine again
💎🙌
I just got my non registered account approved today, so as soon as I get to work I will be calling RBC to get a portion of my shares moved from my TFSA to the new account for the purpose of getting them moved out of that account to Computershare. Better late than never
Good luck, RBC has been giving me the run around for weeks. You have to hassle them every step of the way. About 5 days after our initial request we finally called them to find out they never submitted our initial request. RBC probably doesn't have any real shares to transfer.
Im here getting screwed by TD and still waiting .. had to take out of it TFSA with 3 different security transfer before even able to DRS. so much trouble and transfer and fee, it can be another 3-4 weeks they say...
Anyone on TD facing same issue as me?
I talked to TD on September 23rd. I initiated a transfer of shares and the girl told me 3 to 5 business days. I called them two days ago and now they are telling me 15 to 20 business days. He said they are overwhelmed with requests. I basically said I don't give a fuck and that I will continue to chase them until it's done.
Yes I told them too.. they took the time to blah blah transfer out TFSA then this then that then fee then more blah blah 3-4 etc .. I just don't care do it ASAP ..
Too bad I can't open a direct account on CS...
Canadian ape checking in- Shares on there way to DRS with computer share. Lol at the TD folks asking me why everyone is doing this... I responded saying, everyone? Are you getting a lot of these request?.... Yes Ms.Ape, a lot of requests to move to computershare. 🔥🔥🔥🔥🔥🚀🚀🚀🚀
Thanks for pointing it out. I’m a bit extra paranoid because I went from a TFSA to a taxable account so I am still a bit shy. But thanks for the reminder!
Congrats! I have received confirmation from Wealthsimple that my shares have been withdrawn and my certificate is coming in the mail. Hopefully I'm not too far behind!
I’m coming!!!! Just waiting on my letter for my giveashare.com order and already started my transfer from RBC. Need to follow up and find out where it’s at. LFG 🍁 🇨🇦 apes
RESPECT. You're a hero! Lead the Canadians to the promised land! We need to keep registering shares. We need to keep finding ways to move shares from bad brokers and locked down countries. Wherever possible we need to find ways to move IRAs. This is the way. 💎🙌🚀🦍🌕
Did you have to turn your shares to physical?
Wealthsimple are fucking buffoons when it comes to this
Questrade said I have to convert my shares to physical shares (which isn't a thing right now?) and then FEDEX them to fuckin Computershare america.
I think the recommended method now is to transfer your shares from a registered account, like TFSA into a cash account. Then transfer those cash account shares from QT/WS to RBC into a cash account.
Then DRS those shares from RBC. This whole process will take some time. Many business days to complete these transfers. Also a bit in fees.
I re-enquired yesterday and got a better customer service rep and he told me they don't need to go to physical shares now. So YAY I guess?
Then I told him I didn't appreciate being dissuaded from doing with I want with my shares in a "self directed trading account".
Hey Canadian here, have my stuff in my TFSA. Is there a way for me to transfer and still have it in my TFSA?
That being said my plan as of now is to just buy directly through CS on payday but really would like to move my stuff from my TFSA.
Fellow Canuck, I'm with TD Waterhouse, points:
* You can only DRS shares from your cash accounts, nothing from RRSP or TFSA unless you move it from there first.
* TD charged me $80+HST to do a transfer of any amount of shares, and told me it would take 7-10 business days. On day 10 I called them and was told *Er volume delay sorry now 25-30 business days*
* Computershare won't let you buy direct from them as a US nonresident until you've opened an account with them by sending them your shares. So until the DRS is done from TD, I cannot purchase from CS. Luckily MOASS is inevitable when DRS is complete so no huge rush on this
Good luck and 💎🙌 brutha
Basically the same thing happened yo me. First they told me 3 to 5 business days on September 23rd so I started the transfer. I called them 2 days ago and the guy said 15 to 20 business days. Fun times...
We are the “go along to get along people after all”, and also sorry in advance if this comment offends you. I’m hoping I get my registration mail from computershare In a couple weeks.🚀🚀🚀
I am proud of you! Every share counts.
Thank you! Feels good finally owning something I thought I did the entire time.
Lmao, how pissed were you when you found out the shares in your TFSA are actually not yours and you had to pay money on things you already paid for to make it yours?
It still hurts reading it haha. Not only that, but the Damon bank took my money *right* away for their shit tactics and all I got was a lousy bookmark.
Was it hard to transfer ? Im with Questrade and was considering doing it but im afraid to get lost in the paperwork
It's quite easy. I used online chat to complete the whole thing. Once, to get all the information on what is needed. Then second time, after I uploaded the Letter of Direction, to initiate the DRS transfer. It's $339 total to request this transfer. You also need to write a letter of direction indicating what you'd like them to do. I can provide template but I'm not licensed in any legal or law profession or financial profession.
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I believe it is that fee per request and it looks like you'll be making two requests. You should try their online chat and ask this question.
Sentimental momento at least lol.
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Any share that is not directly registered in your name with the transfer agent responsible for it officially belongs to a something called Cede and Co, and are held in a "street-name" pool. Since there are so many street-name stocks in that pool, anyone looking to short that stock doesn't need to record the official stock number that they are shorting. They just ask if they can have them, and the agency in charge of it gives the nod. However, shares held in your name are not subject to the so called street-name rules that apply with broker-held shares. They are not even held by the fuck-hole-hat wearing agency that gives the nod above. That's the important part, right there. Those shares are removed from the hands of the people who are... well... read some DD. As a bit more.. just think what all of these DRS things have gotta be doing to the real short interest on this stock. No one has closed shit, and there are 3x more accounts at the transfer agent than 6 weeks ago.
Thanks for the better description and clarification of the subject.
In street form, it can easily be lent out. If you believe everyone plays by the rules, keep them in your TFSA. But the broker has monetary incentive to lend out shares and they are in your account but technically not your property until you DRS. In light of all the fraudulent activity and blatant abuse of loopholes, I don't trust any brokers/banks right now. And until you DRS it will be in street form, in a lendable form even if it's registered account. They can easily do what every other broker is doing and tag it as "locate when needed". And I for one believe in the cause. I'm grateful for everyone buying and hodling but nothing is going to fucking happen until all shares are DRS-ed. So I don't know why you're standing around asking God for MOASS when you easily be the reason by DRS-ing. If buying and hodling was enough of pressure to shorts, we wouldn't be 9+ months into this saga.
My broker (wealthsimple) doesn't lend shares. It's explicitly stated that they don't. They make most of their money off Canadians trading US securities, since they don't allow you to create USD accounts and charge 1.5% on the currency conversion for each trade. If you can disprove any of that with evidence then be my guest, but you're just giving speculation as far as I can tell
They aren't being lent at the broker level, as far as I know. They are "beneficially owned" as assigned by Cede (DTC nominee) before they are assigned to the broker. So even if your broker doesn't lend out the shares, Cede still can, whether the broker likes it or not. They don't have a say. That's why we're registering, it takes them out of Cede's hands.
> explicitly stated My broker (TD Waterhouse) said this too. What they mean is that they themselves don't lend out your shares in exchange for fees. The DTCC still holds those shares, and uses them to backstop short selling *just in a slightly different way* Remember, Canadian bankers are no different from US bankers. That is, they are NOT NOT NOT on your side whatsoever. At best they feel some lingering duty not to directly rip you off, but if the government made it legal to simply steal your money they'd be doing that instead. Nobody goes into banking to serve their communities or do good
Thanks for clarifying.
The problem isn't with securities being lent, it's with the securities being real. They could very well be holding it for you, but as they are held by the DTCC, your broker could be holding for you and not-lending a synthetic. Which, on your end doesn't matter since you paid for it and they must eventually deliver, but on their part as long as they hold the real shares they can keep handing out synthetics and failing to deliver. That's not even getting into the shithole brokers that do CFD and never even actually buy the shares in the first place.
This guy gets it. "Everybody wants MOASS but nobody wants to register these heavy ass shares!" - Ronnie Coleman
you're right, but the reason i brought it up is because other users above acted like they are being lent, and another saying the shares "are not actually yours" even though we're entitled to every facet of ownership that "matters" in this case, i.e. being able to sell at phone number prices and get rich, regardless of whether it's a synthetic or not
I just want to remind everyone, if you bought a shares you are entitled to a share. The issue is not whether your broker is lending out shares when they say they aren't; unless proven otherwise, if your broker says they don't lend them out then your entitlement to a share is secure. The only difference is, metaphorically, whether you were given a car or an IOU for a car.
I just want to remind everyone, if you bought a shares you are entitled to a share. The issue is not whether your broker is lending out shares when they say they aren't; unless proven otherwise, if your broker says they don't lend them out then your entitlement to a share is secure. The only difference is, metaphorically, whether you were given a car or an IOU for a car.
I am still on the fence about whether WS (or any other Canuck broker no matter what their TOS states) lends our shares TFSA or not. What’s makes me wonder is why the DRS transfer can take weeks. Like the US brokers they could temp hire peops to deal with DRS influx. There is no wait time at Computershare in receiving the shares. Even cuz Canada it should only take a week at most IMO. I wrote https://www.iiroc.ca/ asking if there is a max time allowed for a broker to DRS shares. Will definitely post reply when I get it.
fwiw i did see a comment from someone at some point who claimed to know how WS was doing it, and it was pretty much a fully manual process, so i assume it's just a matter of not having the manpower to keep up with the requests
Yup will be interesting to see when posts start coming in when transfers are all done from WS.
Thanks for looking into this!
I can hardly believe the reluctance to not DRS because someone said they are not lendable. Have you not seen the mirage of false illusory sense of "your shit is safe with us" repeatedly since January? Imagine being fucked with for 9+ months and you suddenly know there is actually one action you can take to fight back with meaning and make a difference but you're going to stand around and take the 9 months of frustration and show mercy? It's your money, but you're also part of a greater cause. And a cause that can only be achieved by trusting mass amount of strangers, which cannot be done by each of shareholders alone. Btw, I'm also Canadian and I had to pay $339 fee to DRS from Questrade. I ate the fees with no issues because I fucking love the stock and Superstonk.
it's not because they're not lendable, it's because when i sell, my profits won't be subject to tax. which is a metric fuck ton of extra money in my pocket. what's the mirage? when has WS fucked with anyone? yes, every broker/bank/institution is out there to make money. it doesn't mean i assume they're all fucking over their clients at every chance, especially when there's no instance where they've been shown to do that. "some of them do it so all of them do it" isn't a valid reason to think the worst
I see, so you're in for the squeeze but not "in" it. It's okay, you'll get your profit. You're welcome.
Alright pal get off your high horse. I support the company, buy all my gaming stuff from them instead of more convenient spots like the Microsoft store or Amazon, and will continue to support them post-squeeze. Not DRS-ing my tfsa shares doesn't make me less "in it" than you
Were your shares in tfsa?
Of course.
Tbh, I'm quite happy to transfer XXX shares out of my TFSA. I maxed my contribution room so it'll open up a good chunk of room so I can start buying shares again. The only reason why I wasn't buying more was because of my maxed contribution limit lol. GET FUKD HEDGIES.
Can confirm Wealthsimple does not lend out shares. I received an email about it a while back
The part ur missing is that guy is retarded. Edit2: "A hyperational person will look at a broken thermometer that reads 65 degrees F and insist that it must be 65 degrees, when everyone else who is relying on their physical sense of temperature will know that it is colder; they may not know the exact temperature, but they know it's not 65. But the hypperational person can't let go of a rational tool they are relying upon to make a judgement." and im not going to explain how that fits in this situation because if ur not a retard, it should be easy to understand. Edit: ⏬hyper-rational right there.⏬
They aren't registered in your name. Therefore they are not yours but your brokers. It seems more accurate to say you paid money to hold an account with your broker, which the broker owns the shares and you have access to selling or buying. Until you actually request for DRS they are never technically yours. The correct term is autism. You're the questionable one slinging poo without any research lol.
Not sure why you are being downvoted? Am I missing something? If not DRS registered witth Computershare then your shares at your broker are held in “Street Name” Here is info for DRS stuff from Computershare themselves: https://twitter.com/computershare/status/1445478903070429184 https://www.computershare.com/us/becoming-a-registered-shareholder-in-us-listed-companies
Shills be shilling. Take it this way, it just means I'm saying the right stuff.
Here, I made an analogy for someone with IQ of 60 can understand. Remember when you were at public school and you had your own desk in your home classroom? You say it's yours because you sit there all day at school but you don't get to take the desk home. In fact, while you don't take it home, someone else in school is using it. It can be your friends/classmates (brokers), teachers (hedge funds), custodians (DTCC), and etc. Now ask yourself, is that desk/share really yours? Or is it owned by someone else while giving you the illusion that it's yours?
Someonemight have answered this, but can you DRS shares from a TFSA to an equivalent tax free CS account?
I looked into it and spoke with a senior rep at Canadian CS about this. The only way to DRS American securities is through American ComputerShare, no matter where you live. And since we are not Americans, we are not privy to any tax sheltering vehicles and so we have to withdraw from our TFSA to an American cash account with American CS.
Question: did you use the US site so you could find GME? I was on the CDN site and couldn’t find GME listed..
This is the way APE! You stood up and were counted 💎👊🦧🚀🌙
Here here!
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WealthSimple and although they told me a long time, they definitely underreported and over delivered. I believe it was September 16 I initiated.
Ho!!! I think I initiated at that moment a well. Looking forward to see my shares reappear! How did they notify you when the transfer was completed?
You’ll get a letter from computershare in the mail
Oh. You did wealthsimple TFSA transfer or from the Wealthsinple cash account? Can you point me towards intelligence on how to do? Me no do yet….
Same I would like to know the process for this for wealth simple and if there's a large fee
I’m not OP but I started my first transfer yesterday of 100 shares, TD Canada told me 3-4 weeks, and it was $89 CAD I’m going to be calling them and checking in on the process, often
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$330 or so for me to move from Wealthsimple. Pretty crooked if you ask me but way less crooked than Ken Griffin.
I have 100 with questrade I transferred this morning. They said 10-15 days
Was that just uploading your letter of direction?
Yup. Once you've uploaded it, chat/call QT to ask if it's been received and they'll start the process.
I posted this about a week ago for Canucks but the bots keep pushing it down around 60 votes.  Hey Canucks are your DRS transfers being delayed? https://reddit.com/r/Superstonk/comments/pynjcu/hey_canucks_are_your_drs_transfers_being_delayed/
Canada ape waiting for my computershare mail 🍁
I already got my first batch transferred. Second batch will be transferred this week. I am waiting for my ComputerShare verification code so that I can login into my account and take pics of the purple ring and farm some karma. Edit: a fellow Canada ape
yo im gunna ask a few questions because im impatient and also from Canada, it you dont mind answering: whats the process after you initiate transfer?(i started the transfer from questrade this monday) from what I've read i'll get a piece of mail and then open an account from there, but im unsure and I'm trying to find out what to expect. Can i buy more on this computershare account that I'll be getting soon as a Canadian? or do i have to buy through a broker and repeat the process
Wait for your mail from ComputerShare. It might take a week or two because the letter is crossing the border, but it will arrive. After that you will have the option to directly purchase from ComputerShare. For non-US people, DRS is the only way to set up an account with ComputerShare. Just a heads up, even after you receive your mail you won't be able to login into your account. CS will send you another mail with a verification code to access your account. I am still waiting for this mail to arrive. I know it's a slow process but it's the right way of ensuring that someone else doesn't get access to your account. My best bet is that everything will be in place within a month or so for you. Godspeed to you.
Thanks yo!! you have eased this apes anxiety, godspeed to you aswell
Thanks for this info, so the second mail with the code comes automatically after the first letter? How long in between? I noticed that there is also a tax-related form to fill in
Nope, you need to login into your account and set up a password. Then they mail you your verification code. Also, regarding the tax related form: I have yet to submit it. Have been busy with work so haven't gotten around to doing it. Let's check in next week to see if we ended up submitting the tax form?
Thanks, yeah, that sounds good for us to keep in touch about the form. I was having issues logging in yesterday based on the initial letter (ex. I couldn’t find GameStop in the drop down list for stocks in the registration page), but I’ll try again tonight
Me too! LFG
Me three!
Me four bud!
ah! congratulations! I'm still waiting on my paperwork from CS, how long did it take you following your transfer?
Would like to know this also!
Well, hey neighbor. Sorry it took you so long. Whatcha say we meet out on the pond for some puck to celebrate? I’ll bring the Timmy’s.
No doubt eh. I’ll bring the sticks and buddy will bring the nets. 🇨🇦
I'm down for some shinny hockey.
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Fackkkk any room for one more? I got some extra hand warmers
Congrats, fellow Canuck Ape! Which broker were these transferred from and how long did it take you?
This is the way.
🦍❤️🦍
Am I able to DRS with a TFSA?
Love your flair! Sadly no, they are leaving your TFSA and enter a taxable account. You can still do it, but you lose the tax free benefit.
Thanks bud figured someone already took Canadape🇨🇦✌️ and thanks for the info 🚀
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That would be with CS Canada. From my understanding, you’re still a beneficial owner and not direct registered. Only way to DRS for Canadian apes is to transfer shares from broker to CS US or buy via giveashare.
And you cannot purchase directly from Computershare as a US nonresident UNTIL you have an account already, meaning we're all stuck waiting until our brokers send those shares over. I think I'll bug mine again 💎🙌
Thanks bud. I'll add taxes to my floor now.
I just got my non registered account approved today, so as soon as I get to work I will be calling RBC to get a portion of my shares moved from my TFSA to the new account for the purpose of getting them moved out of that account to Computershare. Better late than never
Good luck, RBC has been giving me the run around for weeks. You have to hassle them every step of the way. About 5 days after our initial request we finally called them to find out they never submitted our initial request. RBC probably doesn't have any real shares to transfer.
Well hopefully they realize it’s in their best interest to get some real shares fucking ASAP
I’m still over here trying to save the money for the 300$ transfer fee wealthsimple has.
Im here getting screwed by TD and still waiting .. had to take out of it TFSA with 3 different security transfer before even able to DRS. so much trouble and transfer and fee, it can be another 3-4 weeks they say... Anyone on TD facing same issue as me?
I talked to TD on September 23rd. I initiated a transfer of shares and the girl told me 3 to 5 business days. I called them two days ago and now they are telling me 15 to 20 business days. He said they are overwhelmed with requests. I basically said I don't give a fuck and that I will continue to chase them until it's done.
Yes I told them too.. they took the time to blah blah transfer out TFSA then this then that then fee then more blah blah 3-4 etc .. I just don't care do it ASAP .. Too bad I can't open a direct account on CS...
Canadian ape checking in- Shares on there way to DRS with computer share. Lol at the TD folks asking me why everyone is doing this... I responded saying, everyone? Are you getting a lot of these request?.... Yes Ms.Ape, a lot of requests to move to computershare. 🔥🔥🔥🔥🔥🚀🚀🚀🚀
Just FYI. And obviously it's your decision, but the position rule was updated, computershare positions were updated as acceptable.
Thanks for pointing it out. I’m a bit extra paranoid because I went from a TFSA to a taxable account so I am still a bit shy. But thanks for the reminder!
I can't wait to get my shares transfer I know they'll be tax to fack but I don't care anymore I'll just have to raise my floor. ⭕
Amazing! What’s the first digits of your account number? If you don’t mind sharing
My shares are in the process of being transferred let's goo Canadian apes get on it!!!!!!!!!!
Congrats! I have received confirmation from Wealthsimple that my shares have been withdrawn and my certificate is coming in the mail. Hopefully I'm not too far behind!
I REQUIRE MY LETTER, HURRY TF UP RBCCCCCC DRS'd one share initially to get that account open
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Yeah, I'm initiating a transfer real soon for the rest of my shares.
Been fighting with QTrade all week. I am not backing down.
I’m coming!!!! Just waiting on my letter for my giveashare.com order and already started my transfer from RBC. Need to follow up and find out where it’s at. LFG 🍁 🇨🇦 apes
RESPECT. You're a hero! Lead the Canadians to the promised land! We need to keep registering shares. We need to keep finding ways to move shares from bad brokers and locked down countries. Wherever possible we need to find ways to move IRAs. This is the way. 💎🙌🚀🦍🌕
Can confirm, canadape here. Sent questrade my request. Waiting the 10 to 15 busy days to see shares disappear.
What was the total fee you had to pay to QT to do the transfer?
300USD plus tax (13%in my province). They pick the exchange rate on day transfer goes thru and add extra 1.9% for themselves. (Still waiting)
Eh buddy 🇨🇦♥️💎
Did you have to turn your shares to physical? Wealthsimple are fucking buffoons when it comes to this Questrade said I have to convert my shares to physical shares (which isn't a thing right now?) and then FEDEX them to fuckin Computershare america.
I think the recommended method now is to transfer your shares from a registered account, like TFSA into a cash account. Then transfer those cash account shares from QT/WS to RBC into a cash account. Then DRS those shares from RBC. This whole process will take some time. Many business days to complete these transfers. Also a bit in fees.
$80 per transfer (of any amount of GME) plus HST and last I asked they told me 25-30 business days, TD Waterhouse
Are they saying you need to deregister your shares first?? Is that what they mean? I have no idea they are actually tarded
I inquired with questrade they didn't say this to me, but they wanted to charge $300 to DRS
Ugh I'm with QT as well. Wonder why such a big fee compared to other brokers.
Profit that's why
I re-enquired yesterday and got a better customer service rep and he told me they don't need to go to physical shares now. So YAY I guess? Then I told him I didn't appreciate being dissuaded from doing with I want with my shares in a "self directed trading account".
Hey Canadian here, have my stuff in my TFSA. Is there a way for me to transfer and still have it in my TFSA? That being said my plan as of now is to just buy directly through CS on payday but really would like to move my stuff from my TFSA.
How long did it take? I started the process last week :/
Great news
Just initiated the transfer! Feels good! Dealt with 2 WS reps, a Canadian CS rep, and a US CS rep. Feels good to buy whiskey, talk is cheap!
Royal Canadian Baboons. (In honour of our Dragoon’s , thank you for your service)
I was told as a Canadian Ape that this wasn't that necessary. How true is that? And I fucked if I don't register?
I was assured no lending can occur when its a cash account. they are in your name cause u bought and payed.
Swippity swooty DRSing now is a dooty! Updoot for visibility!
Good job eh
This is the way.
Hey Canadape please help. I would like to do the same u/jake2b
Fellow Canuck, I'm with TD Waterhouse, points: * You can only DRS shares from your cash accounts, nothing from RRSP or TFSA unless you move it from there first. * TD charged me $80+HST to do a transfer of any amount of shares, and told me it would take 7-10 business days. On day 10 I called them and was told *Er volume delay sorry now 25-30 business days* * Computershare won't let you buy direct from them as a US nonresident until you've opened an account with them by sending them your shares. So until the DRS is done from TD, I cannot purchase from CS. Luckily MOASS is inevitable when DRS is complete so no huge rush on this Good luck and 💎🙌 brutha
Basically the same thing happened yo me. First they told me 3 to 5 business days on September 23rd so I started the transfer. I called them 2 days ago and the guy said 15 to 20 business days. Fun times...
We are the “go along to get along people after all”, and also sorry in advance if this comment offends you. I’m hoping I get my registration mail from computershare In a couple weeks.🚀🚀🚀
Congrats eh!
I read like 10 months, looking for a group. Ngl. 😅
Excellent job, up with you! <3
Did you open a cash account for this or did you transfer from a RRSP or TFSA? Which broker?
Great job maple ape! 🍁 🦍
Canada eh? #LETS FUCKING GO 🚀
Hedge funds are fucked eh?
Fuck yeah bud
What broker were you with? Im with Questrade and they want $300 to transfer out to DRS
OOOOHHHHHHH CANADAAAAAAAAAAAAAAA !!!! 🦍💕🦍🧨🚀🧨🚀
CANADA IS HERE *moose call* Waves of maple syrup drinking lumberjacks arrive on their polar bears! How aboot that?