Message Boards

Beginners Corner
Moderator is drppingsoprano

Date: 3/22/2018 11:53:41 AM
Frequently Asked Questions
Author: Cal Country Flag
Subject: 19494/19524 - Re: RBC DIRECT INVESTING and automatic DRIP WTF?
<= Previous              Post Response              Post New              Next =>
Message:
Generally the 'financial advisors' at the bank only know what the bank has taught them. What the bank has taught them about are products that make the bank money.

You have a synthetic drip through the bank. If you won't enough shares of your holding to get 1 full share every (assuming) quarter, then that is what you will get, plus any cash balances. If not your drip will deposit cash into your account, until you own enough shares to drip 1 share plus, per quarter.

The bank may charge your $50 to obtain the share cert, to register your traditional drip, and have access to the SPP, where you will not have to pay transaction fees to purchase more shares. When you have enough money to deposit your share cert's back into the bank trading account the bank will not charge you for that.
 
<= Previous              Post Response              Post New              Next =>

Support DIRC - Buy Amazon
Books purchased through the links in the Books section help support this website.
Even if you do not buy the linked book, any purchase where you originally got to Amazon.com through the link is beneficial.
Your support is appreciated.

Author Profile
  Number of Messages Past Six Months: 5
 
(Number in parenthesis is unread messages)
   DRiPs for U.S. Investors (21927)      DRiPs for Canadian Investors (38950)      U.S. Money and Tax Matters (4889)      Canadian Money and Tax Matters (9246)   
   Stock Talk (19922)      Overlooked Stocks (3188)      MoneyPaper Specials (2623)      Share Exchange (35019)   
   Brokerage, T.A., & Bank Accounts (3383)      Bugs and Recommendations (3121)