Wealth Simple now allows GME transfers to DRS
email I received a few minutes ago below:
sep. 15, 2021, 1:42 p.m. EDT
Thank you for reaching out about withdrawing your shares to DRS – apologies for the delay, though we’re happy to provide you with some more details.
Because of the special nature of a share withdrawal, there are fees involved in processing your request:
- Our agent charges a fee of $232 + HST per withdrawal of a US security, which is a requirement for the shares to be re-registered in your name directly with the transfer agent. Please note that we do not reimburse or cover this fee.
2.There is a special handling fee of $37.50 + HST to facilitate this manual transfer.
These fees total $304.54. If you decide to proceed, we will arrange to have these fees charged to your account.
Please note that the process to change the registration with the transfer agent will take some time. We estimate the overall processing time for this type of withdrawal to be 3-4 weeks, however, it may take longer. We will process it as quickly as we can. Once the withdrawal and re-registration is complete, further transactions will be done directly with the transfer agent.
If you would like to proceed, please reply to this thread to let us know, and make sure you have an available to trade balance of $304.54 CAD within your Personal account to cover the fees outlined above. We’d then be happy to process the request!
If you do not have $304.54 CAD within the account to cover the fee, the withdrawal cannot be processed. In order to create the required cash balance, please either liquidate a sufficient number of shares within your account, or set up a deposit by following these steps.
Please let us know if you have any questions— we’re here to help.
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September 15, 2021 at 11:06AM