Your Issuer Number was sent to you with Australia Post, or you can find it online in Computershare, by navigating to Documents -> DRM.
It is free and easy to transfer these to your broker and it can be done online, so providing you have your Issuer Number you may do the following:
Commsec: Settings -> Transfer Shares -> choose a transfer from Share Registry to your Chess account – answer a couple of questions
ANZ: almost identical.
IG Markets:
https://www.ig.com/au/help-and-support/investments/transferring-investments/how-do-i-transfer-my-investments-to-igASX/Brokers try to avoid unmarketable parcels – these are generally $500 or less, and this is the reason why many brokers won’t let you buy a parcel worth less than $500! What some of you have discovered is they also won’t let you create a Share Registry -> Broker transfer.
So here are your options if you have an unmarketable Issuer Sponsored parcel stuck in Computershare:
1) Do absolutely nothing. That’s the easy one.
-> a) Maybe in 20 years time, DRM may do a small holding clean up and you’ll get a EFT/Cheque back
-> b) When DRM goes up and your parcel is worth $500 quickly transfer them
2) Find a broker that will allow small parcels
3) Buy $500 or more of DRM. I have verified that this works fine. One of my boys had an unmarketable parcel and he bought around $2k last Wednesday. On Thursday he was able to create that transfer to add his small Issuer Sponsored Parcel to his new holdings.
4) Find someone who has > $500 DRM and gift or sell them your shares. In this case you create an
offmarket transfer to transfer your Issuer Sponsored holdings to someone else who has sufficient holdings. This should work, but there is a cost to the buyer – ANZ is $50, Commsec is $54. I would say that the buyer won’t want to pay that on such a small parcel. If I were to take it off your hand I’d pay market price but would deduct the $54
5) Log on to Computershare and navigate to InvestorTrade where you can sell any Issuer Sponsored holdings up to $75000. Computershare will look after you, and even more after themselves with a hefty $110 brokerage fee.
6) Some brokers will allow you to sell Issuer Sponsored holdings directly, see commsec picture below. I have not verified whether this works on small parcels but I see no reason why this should not work as this helps to resolve the problem. I don't know about other brokers
Picture showing where to enter a SRN number on Commsec
If anyone has anything to add lt us know
As always DYOR