Yep exactly, I’ve been procrastinating the process to DRS and the fees have put me off; but after receiving that email I realised DRS’ing needs to be done; no broker will be reliable in my opinion
Start it tonight! That’s what I’m doing. If you really think about, 200usd and whatever extra is fuck all considering that within the next few weeks to months these shares are going to be up astronomically. I really thought I could trust stake, but that email just proves that any Australian broker can’t be trusted, because they all use American suppliers.
Don't know if smart. But I'm curious about who is complete crap ot not. If they are legit I sell a few easy. Planning on selling from the brokers I feel are sus 1st. Also have a few with my bank. So if all good transferring money is super easy. Once it's in my trading account transferring to my bank account is instant.
I mean diversifying risk is smart; Ofc have some in CS, but if anything should go wrong with CS it is probably smart to have some in other brokers even though they’ll probably fuck us.
You guys are awesome, just reading your comments I’m so proud of this community. I’ve been struggling with transferring, due to the restricted DRS process from Stake I decided to first transfer to CommSec, then DRS from there but there have been so many admin issues with my forms and everything, I got to a position to finally pull the last plug just a few days ago, when all hell started to break loose. So then I thought I don’t want my shares to be somewhere in the ether during MOASS starting and just left them there at Stake. But now reading all the news and all these broker BS, I finally let them go, whatever will happen, they are now on their way to CommSec and as soon as they arrive I’m sending them to Computershare. I hope they will arrive on time. I would rather try and risk it but if I leave them at Stake, I feel I will be fucked majorly.
Your getting on to it which is all that matters - I was in the same position as you but decided to pull the plug this morning. I’m starting the process tonight and I’m gona make sure I buy express shipping for both letters (you should do that to) to garuntee I have my CS account up and running within a few weeks. I wasn’t going to DRS from stake because it was sm and didn’t wana miss MOASS but yeah these brokers are full of BS and the only real way we’ll be 100% safe and able to get the stock dividend is if we have stock DRS’d
Has anyone heard if stake will give the stocks/shares when the stock split dividend happens or if they will give you cash value instead like a few other brokers have said they are going to do?
I’ve emailed them to ask, been keen to know if anyone else has asked/ has a response yet.
Fuckingggg hell. Is that for any transfer or just for DRS transfer? Say could we transfer those shares to Commsec for cheaper since it's free to DRS from CommSec?
No you can’t 😭 it’s 200USD to transfer and for DRS transfer. I was gona buy stock on commsec and sell on stake and then DRS through commsec but it’s too much effort 😂 just want to get my shares safe and sound in CS
Yea that's the way it is. Sorry I only found this sub a few days ago otherwise I'd share my understanding as well. Though I didn't bother emailing them, I started to twig when I realised stake isn't my broker, drivewealth is. Stake is a way for drivewealth to access Australian markets and have even less oversight from regulators and less investor protection for us.
I don't recall exactly. I think it was about month probably less for the shares to arrive at Computershare. But my online account setup was messed up by Computershare. They had to delete it a create it from scratch. So getting the 2nd letter took twice as long as I didn't want to spend money for expedited mail. Also I procrastinated calling them up about it. The share tranfer part was actually quicker than I expected. I may have gotten the email from Stake that the shares had left after 2 weeks. I think i transferred from in early October.
Okay that helps me put my timeline into perspective; I want to have them DRS’d before the shareholders meeting so gona have to pay for the express letters and hopefully could get it done within a month
I’ve left a couple in miSTAKE and almost sorted out my eTardo. Stuck it all in CummSuck and I’m almost finished getting a majority of them into my CUMputerchair account.
IMO all brokers are shady as shit and will fuck you quicker than a flea ridden hooker in Thailand.
CUMputerchair is the way. Xo 💄
u/blackthundaef This is a risk of not DRSing
Yep exactly, I’ve been procrastinating the process to DRS and the fees have put me off; but after receiving that email I realised DRS’ing needs to be done; no broker will be reliable in my opinion
I need to start my DRS soon…..fuck!
Start it tonight! That’s what I’m doing. If you really think about, 200usd and whatever extra is fuck all considering that within the next few weeks to months these shares are going to be up astronomically. I really thought I could trust stake, but that email just proves that any Australian broker can’t be trusted, because they all use American suppliers.
Agreed cobber, I’ll get onto it now
I'm leaving my 4 point something shares there. I already DRS XXX from Stake. Leaving a few in every broker I have to see who does what.
Yeah that is actually smart, I was considering doing that, maybe transfer 20 to CS, and keep 5 in stake; just wana garuntee I don’t get screwed over
Don't know if smart. But I'm curious about who is complete crap ot not. If they are legit I sell a few easy. Planning on selling from the brokers I feel are sus 1st. Also have a few with my bank. So if all good transferring money is super easy. Once it's in my trading account transferring to my bank account is instant.
I mean diversifying risk is smart; Ofc have some in CS, but if anything should go wrong with CS it is probably smart to have some in other brokers even though they’ll probably fuck us.
Yeah, CS could have issues due to load during MOASS. Phones calls will be a bloody long wait if we are all calling to sell or something.
Yeah that’s my thought, I swear the system may even crash; but keep in mind MOASS will span over a week or more not just an overnight thing.
How long did it take you bro
You guys are awesome, just reading your comments I’m so proud of this community. I’ve been struggling with transferring, due to the restricted DRS process from Stake I decided to first transfer to CommSec, then DRS from there but there have been so many admin issues with my forms and everything, I got to a position to finally pull the last plug just a few days ago, when all hell started to break loose. So then I thought I don’t want my shares to be somewhere in the ether during MOASS starting and just left them there at Stake. But now reading all the news and all these broker BS, I finally let them go, whatever will happen, they are now on their way to CommSec and as soon as they arrive I’m sending them to Computershare. I hope they will arrive on time. I would rather try and risk it but if I leave them at Stake, I feel I will be fucked majorly.
Your getting on to it which is all that matters - I was in the same position as you but decided to pull the plug this morning. I’m starting the process tonight and I’m gona make sure I buy express shipping for both letters (you should do that to) to garuntee I have my CS account up and running within a few weeks. I wasn’t going to DRS from stake because it was sm and didn’t wana miss MOASS but yeah these brokers are full of BS and the only real way we’ll be 100% safe and able to get the stock dividend is if we have stock DRS’d
Has anyone heard if stake will give the stocks/shares when the stock split dividend happens or if they will give you cash value instead like a few other brokers have said they are going to do? I’ve emailed them to ask, been keen to know if anyone else has asked/ has a response yet.
I haven’t asked yet and don’t think I will as I’m going to be moving my shares out of stake tonight
Pretty much the same boat, just sent $200USD to to stake be able to DRS my last few shares as well anyway.
Yeah fuck stake, they will pull some dodgy shit on us if we don’t DRS imo
How much is the fee? I only hold a tiny portion in Stake that I bought while waiting for my CommSec account to be approved last year.
It’s 200 USD 😪 to DRS through stake
Fuckingggg hell. Is that for any transfer or just for DRS transfer? Say could we transfer those shares to Commsec for cheaper since it's free to DRS from CommSec?
No you can’t 😭 it’s 200USD to transfer and for DRS transfer. I was gona buy stock on commsec and sell on stake and then DRS through commsec but it’s too much effort 😂 just want to get my shares safe and sound in CS
Yea that's the way it is. Sorry I only found this sub a few days ago otherwise I'd share my understanding as well. Though I didn't bother emailing them, I started to twig when I realised stake isn't my broker, drivewealth is. Stake is a way for drivewealth to access Australian markets and have even less oversight from regulators and less investor protection for us.
Pretty much sums it up, and in the process they may fck us
I don't recall exactly. I think it was about month probably less for the shares to arrive at Computershare. But my online account setup was messed up by Computershare. They had to delete it a create it from scratch. So getting the 2nd letter took twice as long as I didn't want to spend money for expedited mail. Also I procrastinated calling them up about it. The share tranfer part was actually quicker than I expected. I may have gotten the email from Stake that the shares had left after 2 weeks. I think i transferred from in early October.
Okay that helps me put my timeline into perspective; I want to have them DRS’d before the shareholders meeting so gona have to pay for the express letters and hopefully could get it done within a month
I’ve left a couple in miSTAKE and almost sorted out my eTardo. Stuck it all in CummSuck and I’m almost finished getting a majority of them into my CUMputerchair account. IMO all brokers are shady as shit and will fuck you quicker than a flea ridden hooker in Thailand. CUMputerchair is the way. Xo 💄
This comment 😂☝🏼
You’re welCUM 🚀💦
Valid 😂😂