Yes, stock certificates can be lodged or 'deposited' into your account as long as the name appearing on the stock certificate is the same as your COL Financial account name.
When depositing your stock certificates, here is what you should do:
| STEPS | ACTION | DETAIL |
|---|---|---|
| 1 | Check that the name on the stock certificates is the same with your name in your COL Financial account | The stock certificate can only be transferred to a COL account with the same name as indicated on the certificate. |
| 2 | Check to make sure that there is a signature at the back of your stock certificate | Your IDs and signature cards must show the same signature as your certificates |
| 3 | Print and fill out the Securities Instruction Form | For Joint accounts, form must be signed by both account holders. |
| 4 | Print and fill out the Signature Card. Sign the card twice. | One (1) Signature card per stock, regardless of number of shares |
| 5 | Photocopy (2) valid government issued IDs for submission | IDs should have a photo and signature |
| 6 | Submit all requirements to our business center for processing | Crediting of stock certificates may take 1-3 weeks |
| * | A processing fee will be charged by the PDTC: P100 transfer fee per stock P20 cancellation fee per certificate + 12% VAT for non-bank transfer office | This can be charged to your COL Financial account provided it has enough cash balance available |
COL's Business Center is located at 2403-B East Tower Tektite Towers, Exchange Road, Ortigas Center, Pasig City.
Once we have received all the documents, it will then be submitted to the Transfer Agent for clearing then passed on to the Philippine Depository & Trust Corp (PDTC) for custody. This process can take between a week to several weeks depending on the speed of the clearing process of these two organizations, and if there are no discrepancies with the requirements.
Sample computation for the Fees:
*Non-bank transfer agents charge a VAT of 12%
Below are the forms needed as well as a guide to the lodgment procedure and requirements