So, you’re thinking of selling some RWRDP…
You’ll need to transfer shares, first to the transfer agent (Issuer Direct) for earned shares, and then to a stock broker (TD Ameritrade is our fave).
The total transfer cost to you is about $32.50 per transfer for stock you’ve earned (via shopping, referring, bonuses, etc.), or about $25 for stock you’ve purchased (directly from iConsumer’s Invest option). Much higher than we expected.
We know this is too high. We’re working on it, but I’m not optimistic we’re going to fix it in the short term.
You should also know that it takes about a month to transfer earned shares; a week for purchased shares.
Which means you should consider waiting to sell until the total number of shares you’ve earned from shopping (and/or the number you’ve purchased) times the price per share is higher than $32.50. As of 7/12, you’d probably receive $.20/share if you sold today. So you would need to sell 163 shares at today’s price, just to cover your transfer cost.
As always, we’re not promising that you’ll be able to sell your shares, ever. The lawyers want us to say that, and they’re right. The price of our shares is highly volatile, and will probably continue to go up and down.