Davy Select changes/increases annual fee structure

rob oyle

Registered User
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Davy Select are changing their pricing structure from the start of 2019.

At the moment, all customers pay €20+VAT a quarter. From January, a maintenance fee of €50 will be charged for every quarter in which transaction fees do not hit €50. This will hit small shareholdings or any relatively inactive users.

This means a fee chargeable in any quarter in which the equivalent of c.€10,000 of shares are not bought and sold.

Time to shop around for any Davy Select users and see if it's still the most suitable platform for them.
 
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I have shares with Davy and don't trade at all. I am just holding them long term and will be hit with a considerable increase. Is there a cheaper option or should I just ask them to issue a share cert and hold them myself?

I am currently paying 50-60 per year (can't remember the exact amount).
 
Degiro or withdrawal to certificate stock. However, to sell the latter, you'll need a broker willing to transact certificate stock. Some large companies may offer a nominee account through the registrar.
 
Just to point out on this one - it appears that ANY trading fees in a quarter with Davy will be deducted from the quarterly fee. Initially I had understood that unless transaction fees hit €50 in a quarter, the maintenance fee would be charged. It now appears that at least €50 will be charged a quarter but any trading fees would come off the maintenance fee (i.e. if you transact and are charged a fee of €20, your maintenance fee at the end of the quarter will be €30).
 
Fair enough in my view. The charges are still low and businesses have to guard against people squatting on their platforms without paying for the privilege in a world where regulation etc is constantly increasing costs.
 
Just wondering what would be the best way to purchase shares in certificate form or is this possible ? The purchaser would be intending to hold the shares for many years and pass them on. Had a look at Davy but the costs seem high enough annually and are hard to follow and would likely erode any dividends.
 
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