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Non-Tech : Always Looking for Cheap Internet Brokers

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To: Dave Shares who wrote (243)11/25/1997 5:28:00 PM
From: Judith  Read Replies (3) of 602
 
My experience with DTC transfers....

I have transfered different stocks from my Smith Barney account to Farsight using DTC transfers. After sending a fax to Smith Barney with the required information, my stocks have all been transfered in about 3 days.

I also have an account at Paine Webber. I called to tell them I was faxing over a request to transfer a stock to Farsight using a DTC transfer. The broker's assistant, insisted Farsight had to initiate the transfer. I told her she was wrong and finally talked with the broker. He also was unaware of the DTC transfer, but after I told him I do it with Smith Barney, he backed down and said if SB does it then Paine Webber must be able to. I faxed my request and will see if the transfer gets done.

If your broker says they don't do it, insist on talking to an operations manager. There may be some situation that I am not aware of where doing this kind of transfer is a problem, but at this point, I intend to request Farsight to do DTC transfers for all the stocks in all my accounts to NDB, at the end of the year.

Judith
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