Depositing stock certificates can be as easy as depositing a check at the bank. After endorsing it and filling in some essential information, simply mail it to your brokerage company and soon you will be tracking your shares on your brokerage account statements. For some it is much more comforting knowing it is held at a brokerage as oppose to fearing it will be lost or destroyed in a fire or flood at their home.
Endorse and date the stock certificate. Turn your stock certificate over and sign it exactly as the name appears on the front. The account you are depositing into must have the same name. If it is written to a single person and the account is a joint account there may be additional steps. Place the date near your signature.
Write the name of the broker on the back where it states 'constitute and appoint **** Attorney.' This is where you put the name of the bank you are depositing it into, such as USAA or Ameritrade. This ensures that if it gets lost someone else will not be able to deposit it.
Write your brokerage account number under your signature. This will make sure it is deposited into the right account. This number should be located on your most recent statement.
Make a copy of both sides of the certificate and mail the original certificate to the address of the brokerage company. Choosing a certified mail option, will give you peace of mind that your package arrived safely. Watch your account statements to make sure the certificate has been deposited, and that the number of shares is correct.
Warnings
Check with your brokerage company to make sure they do not require additional steps.
References
Warnings
- Check with your brokerage company to make sure they do not require additional steps.