DRS/Computershare Megathread 06/2022 💻 Computershare
$GME shares Direct Registered at Computershare Update! -- 12.7 MILLION!!!🟣
NEW HERE? Are you wondering what DRS is? Do you want to know how and why people are Direct Registering their shares? Please ask away in the comments! Try to search the comments first to see if your question has been answered.
HAVE YOU GONE THROUGH THE PROCESS OR RESEARCHED IT? We have some helpful people already willing to answer questions. If you want to be one of them too, hop in and help where you can. We appreciate every last one of you. This thread will sort by new, to make it easier to find unanswered questions.
WANT TO FIGURE IT OUT ON YOUR OWN? our comprehensive Computershare Guide
When you buy through a broker-dealer, they will be in the "street name" aka they're registered with your broker-dealer.
What can they do with street name shares but not with direct registered shares? LEND THEM OUT TO SHORT SELLERS!
From DTCC - REDUCES RISK ASSOCIATED WITH PHYSICAL SECURITIES PROCESSING, INCLUDING TURNAROUND DELAYS, MAIL LOSSES AND RISKS ASSOCIATED WITH STOLEN, FORGED OR COUNTERFEIT SECURITIES*
link to Computershare's chart that shows that direct registered shares are removed from Cede & Co. / DTC: https://www.computershare.com/PublishingImages/company-share-structure.jpg
link to Computershare's FAQ page that also has that chart: https://www.computershare.com/us/becoming-a-registered-shareholder-in-us-listed-companies
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How to transfer from Fidelity? You can call or use the chat online and tell them you want to DRS your shares. They will send your shares over to Computershare for you. Once that happens, Computershare will send you a letter in the mail with your 'customer code' so you can set up an online CS account.
If you don't want to wait for the code, you may be able to verify your ID online - After your shares no longer appear in Fidelity you can simply go to CS and register for your account with your SSN, Zip code, and the name of Gamestop. They will ask a couple verification questions and then you will have an account. If this doesn't work the same day the shares disappear, then check back in a day or two.
Can I buy/open an account through Computershare? Yes. You have to create an account by adding your bank account info, then they send you a letter with your customer code. You use the code to create an online account. Once you have an online account you can create a purchase order. The money will take 3 days to settle, then they buy however many shares they can get with the amount of money you deposited. The shares take T + 2 days to settle.
If you're outside the US you can use Wise.com and set up a bank account there, same process. https://www.drsgme.org/buy-direct-registered-shares-from-computershare-outside-the-us
How to sell? You may request that Computershare sell all or a portion of your shares online at www.computershare.com. If you want to set the price you're comfortable with, a good-til-cancelled (GTC) limit order is your friend. If the stock reaches the price you set or higher, it will automatically sell for you.
Book vs Plan
Both plan and Book are removed from the DTC and are registered in your name. But there are two key differences between plan and book:
- Plan shares automatically re-invest any CASH based dividends (this does not apply to stock or crypto based dividends)
- Plan shares are held in a pool with Computershare. This means they can allow for fractional shares. Even the fractional shares are registered in your name and removed from the DTC. (So you can only convert whole shares to Book).
Transferred shares are automatically "book", and when you buy directly through Computershare they are automatically set to "plan".
Transfer Request forms
Guides for various brokers
Guide for CANADA
How to DRS from Vanguard
Call the Vanguard Outbound DRS Transfer agent at: 855-730-0325
Provide them with your brokerage account details, your Social Security Number (they no longer rely on you providing your Computershare account number anymore), and how many shares you would like to transfer to Computershare.
Total call time was 8 minutes. They said it will take 5-7 business days to arrive in Computershare.
To Contact GME dept in Computershare - 800 522 6645
International number - 00800-3823-3823
If you want to ask questions here but your karma is too low for the sub, DO IT! Automod will remove your message but I will manually approve it for you💜!
To reduce clutter I will remove off-topic comments.