How Do You Cash in Shares?
To cash in stock shares, contact the transfer agent of the firm issuing the shares and request that funds are credited to an account. Shares purchased through an investment firm can be cashed into a fund held with the firm, according to USATODAY.com.
Investors with a paper stock certificate, can avoid additional fees when cashing in shares by establishing an account with an investment firm or online brokerage first, reports USATODAY.com. An account with a firm lets investors cash in shares through an online platform versus in person. Simply log in to an online account and designate how the funds should be reimbursed, such as investing into another stock, reserving the funds for a retirement account or depositing into a savings account.
When cashing shares through a transfer agent with the firm that issued the stock, investors may need to do some initial investigating, states USATODAY.com. Investors should locate the transfer agent, contact the company to obtain instructions on how to mail or forward paper certificates, and enclose a letter indicating a request to convert the paper certificate into the direct registration system for electronic transferring of funds, according to Fidelity Investments. When mailing paper stock certificates, insure the package and request tracking information. Once the transfer agent processes and sells the shares, investors are free to re-invest or take possession of the funds.
