Community Chat

[magicmoodz]

@I am still oxox 

I change brokerage houses like I change my underwear. Haha! I have never had to pay the transfer fees. The NEW brokerage company is always willing to pick up the fees. 

If the NEW company you are dealing with wants your investments bad enough, they will gladly pay the transfer fees.

[I am still oxox]

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@magicmoodz wrote:

@I am still oxox 

I change brokerage houses like I change my underwear. Haha! I have never had to pay the tranfer fees. The NEW brokerage company is always willing to pick up the fees. 

If the NEW company you are dealing with wants your investments bad enough, they will gladly pay the transfer fees.

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@magicmoodz They are not calling them transfer fees, its something like closing fees or some such nonsense

[magicmoodz]

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@I am still oxox wrote:

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@magicmoodz wrote:

@I am still oxox 

I change brokerage houses like I change my underwear. Haha! I have never had to pay the tranfer fees. The NEW brokerage company is always willing to pick up the fees. 

If the NEW company you are dealing with wants your investments bad enough, they will gladly pay the transfer fees.

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@magicmoodz They are not calling them transfer fees, its something like closing fees or some such nonsense

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@I am still oxox 

I think it is the same thing. The OLD company is charging you a fee to close your account which in my experience has always been paid by the NEW company.

[Q-Checker]

@I am still oxox- I thought it was clear that I was not referring to you but to the only poster who had responded to you (@cmj61) at the time of my post. It is a common, although not universal, practice to charge a transfer fee. I do not know why you spent an hour on the phone to challenge the policy of the financial institution. It is what it is - unless there is a change in policy for everyone, not just you. And fine print has always existed and likely always will.

[I am still oxox]

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@Q-Checker wrote:

@I am still oxox- I thought it was clear that I was not referring to you but to the only poster who responded to you (@cmj61) at the time of my post. It is a common practice to charge a transfer fee. I do not know why you spent an hour on the phone to challenge this. It is what it is - unless there is a change in policy for everyone, not just you. And fine print has always existed and likely always will.

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@Q-Checker  Then why did you tag me I did not spent and hour challenging this I was on hold for at least 45 minutes, these people were rude and really had not clue what they are doing 

[layla2450]

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@Q-Checker wrote:

@I am still oxox- I thought it was clear that I was not referring to you but to the only poster who had responded to you (@cmj61) at the time of my post. It is a common, although not universal, practice to charge a transfer fee. I do not know why you spent an hour on the phone to challenge the policy of the financial institution. It is what it is - unless there is a change in policy for everyone, not just you. And fine print has always existed and likely always will.

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A LOT of people DON'T read the fine print, then complain about fees, etc.

[Sapphiregal]

I have never had to pay a transfer fee. I have transferred my IRA 3 times from bank to bank. So, must be a brokerage thing.

[spumoni99]

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@I am still oxox wrote:

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@Travone wrote:

You have to read the fine print

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@Travone These accounts are over 20 years old, I dount there was fine print bad then 

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@I am still oxox Are you kidding?  Fine print has been around way before 20 years ago! I would tell the new institution that I will not bring them my money unless they cover those fees, whatever they are called.  That would have been time better spent than disputing with the old institution.

[I am still oxox]

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@Sapphiregal wrote:
I have never had to pay a transfer fee. I have transferred my IRA 3 times from bank to bank. So, must be a brokerage thing.

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@Sapphiregal We did not have a transfer fee when we moved the money into these accounts which was probably close to 15 or more years ago.