How can it cost £46 to sell a few Santander shares?

That’s the charge quoted by Equiniti – but they’re only worth about £450

I have some Santander shares I gained years ago when it took over the demutualised Abbey National.

Every year the bank’s share management company, Equiniti, writes to me offering – among other things – to sell them.

For this, they want a £46 commission. This seems exorbitantly high, given that the shares are only worth about £450.

I now want to sell them – is there a cheaper option?

Lots of people still have these shares and get these letters. I completely agree that a £46 charge sounds like too much for selling the 100 or so shares you must have. The charge would have been a 10% commission.

However, it turns out that that is the price for a written execution.

If you are prepared to sign up to the company’s online service – it takes a couple of days, as Equiniti has to send an authorisation code to your home – you can sell them for a more reasonable £20.

There are other slightly cheaper options but as a rare share trader, this will arguably be your easiest, and I would probably opt for that.

We welcome letters but cannot answer individually. Email us at or write to Consumer Champions, Money, the Guardian, 90 York Way, London N1 9GU. Please include a daytime phone number. Submission and publication of all letters is subject to our terms and conditions


Miles Brignall

The GuardianTramp

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