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I received UBS shares as a gift. I currently keep 150 of them at UBS and 50 at Postfinance. I would like to transfer the whole lot to UBS. Is that a good idea? How high are the custody fees at these two banks? I haven't received any bill yet.
Thanks for your feedback
Hi there,
Comparing custodian banks is important because the cost of custody account varies widely. Large banks in particular often charge high fees for custody accounts.
Postfinance has also begun charging annual custodial fees for its custody accounts. The fee you pay is credited towards transaction fees, but this only benefits you if you trade fairly regularly.
You can compare the costs of custody accounts using the interactive broker comparison on moneyland.ch. The comparison includes both UBS and Postfinance.
Some brokers charge very low custodial fees or none at all, so transferring all of your shares to a low-cost custodian bank could make financial sense.
Important: When you transfer securities from one custody account to another, you may pay transfer fees. These fees are charged on a per-stock basis rather than a per-share basis, which means that if you only have UBS stock, you only pay one transfer fee. If you have shares in several companies, you will pay a separate transfer fee for each batch of shares.
Best regards from Moneyguru
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