Stock Certificate Fee – A Whopper!
A recent article in the San Francisco Business Times indicates that starting in September 2012, Charles Schwab will charge customers at least $500 to take delivery of a paper stock certificate, up from just $50.
A Schwab spokesman said requesting stock certificates is not a “common practice” among the firm’s clients. The San Francisco brokerage also anticipates other firms will boost fees to get stock certificates since “this is simply a pass-through cost.”
We’ve been tellin ya! Paper certificates are on their way out so get ‘em while you still can. See our stock list.