Review of Halifax Online Share Dealing Service

Written by Karen Bryan

share-price-graphI finally decided to sell some Japanese shares that I’ve owned for years.

I used the Halifax online share dealing service, which charges a £12.50 fee per trade. As I was selling a share I was able to see the price that I’d get at the point of sale.

Annoyingly although the proceeds from the sale of the shares were available to deal immediately. I had to wait two working days until the settlement day before I could request a withdrawal to my current account. Why is this when I could use the cash to buy other shares straight away?

I assumed that, especially as I was transferring the cash into a Halifax current account, that the transfer would be through faster banking (whereby the cash arrives in the destination account within two hours).

But no, the transfer from the Halifax share dealing service took three working days.

I think that having to wait one week to access your cash from selling shares is unacceptable. I expect to pay a fee to trade, but I don’t think that I should have to wait so long to get my money.