How do I convert my paper stock certificates into my zecco account cheaply? $100 through zecco, I own 2 shares

Question

I own 2 shares of a stock, I think it split into 4, but either way its only worth about 60-75 bucks.

I want to get it into my new zecco trading account, but they want $100 dollars to deposit it.

Are there any other services or accounts I can convert it to for free or cheaper? Then move it to zecco cheaper?

Thoughts?

Answer 1

This is one of the prices people pay for using a "cheap" brokerage firm.

It may not be Zecco's charges, depending on the security, many OTC stocks charge for registering the name and issuing a new certificate.  In order for Zecco to hold it, they must transfer it from your name to their nominee name, or to the depository's nominee name in which Zecco holds their customer's stock.

Verify it with Zecco to determine if it's their charge or the transfer agent's.  If it's Zecco and you're a decent customer they should waive the charge.  

You can shop for another brokerage firm, but for shares of stock worth less than $100 many firms will charge you.  Or just sit with the stock, until you move your account from Zecco