Securities Portfolio Transfer Service

Since 2013 several banks and brokers offer the Securities Portfolio Transfer Service.

The purpose of this service is to enable a quick and effective transfer of a securities portfolio of retail or private customers between two banks/brokers.
For such a transfer, this service provides a procedure (including application form and conditions) that enables an efficient transfer within a few days (up to 10). The principle of the procedure: the client goes to his new bank/broker and asks for the Securities Portfolio Transfer Service (Overboekservice Effecten); the new bank/broker will send the application form to the old one; the old service provider delivers the securities to the new one.

The following banks and brokers participate:
- ABN AMRO Bank
- CACEIS Bank
- DeGiro
- ING Bank
- Rabobank
- Saxo Bank Nederland
- Van Lanschot Kempen

You can find the Terms of conditions by clicking on the button below:

The Procedure and "Points of Attention" you will find at the bottom of this page. 
Every party uses its own Application Form; For the form you go to your new bank.

Procedures and contactdetails are available for participating parties at the part of this website that is for registered users only - het ledenweb - at Project - Overboekservice Effecten - Documents

Banks that do not participate yet, can join the Agreement that has been closed between the participating banks; for information contact DACSI-secretariat.

Procedure Securities Portfolio Transfer Service

You can apply for the Transfer Service as (new) Account Holder with the New Bank. The New Bank applies its internal procedures for the acceptance of new account holders.

You receive the Application Form for Securities Portfolio Transfer Service from your New Bank. You fill in the Application Form completely and correctly and hand it in with your New Bank.After receiving the Application Form the New Bank assesses whether it can accept the instruction to transfer the Securities.

The New Bank and the Old Bank can refuse your application if:

-  an improper form is used, or;

-  the Application Form is filled in incompletely or incorrectly;

-  data filled in are not in accordance with the data known to the New Bank in relation to the New Account, or with the data known to the Old Bank in relation to the Old Account, or;

-  the Application Form is not signed by all account holders, or;

-  the Account Holder signature(s) on the Application Form deviate(s) from the signature(s) known with the New Bank or the Old Bank, or;

-  the Account Holder or other person(s) who signed the Application Form on behalf of the Account Holder are not authorised or not competent to give an instruction to execute the Transfer Service, or;

-  the Account Holder with the Old Bank is not the same as the Account Holder* with the New Bank, or;

-  the name stated on the Old Account is not similar to that on the New Account*, or;

-  the Old Account is held with a bank or custodian (“bewaarbedrijf”) who is not (yet) associated with the Transfer Service as a participant.

*    these refusal grounds are not applicable if all of the following conditions are met:

-      the Old Account is held by one account holder, and the New Account is held by that (same) holder of the Old Account and not more than one other account holder;

-      the name stated on the Old Account is incorporated in the name stated on the New Account;

-      each Account Holder is a natural person and individually authorised to dispose of the New Account;

-      the Old Account and the New Account are used solely for personal, non-commercial purposes.

If the New Bank accepts the instruction to execute the Transfer Service, the New Bank will immediately start executing it.

The New Bank will send the Application Form to the Old Bank (electronically) and after acceptation the Old Bank will start processing the Transfer Service.

The processing and the settlement of the Transfer Service require a certain time. The processing period depends on the Securities concerned. The following time lines apply as from the New Bank receiving a completely and correctly filled-in Application Form:

-  Securities traded on a regulated market within the EU, USA or Canada: 10 working days on average;

-  Securities traded on other trading platforms: on best effort basis.

If the New Bank does not (fully) accept the transfer instruction for any reason, it will inform you as soon as possible. The Transfer Service ends when all concerned Securities have been transferred from the Old Account to the New Account.

The Old Bank will close the account if this is instructed on the Application Form by the account holder.  

Points of attention

Please consult your Old Bank about the consequences the Transfer Service may have for any other products and services you get from your Old Bank.

Before the Transfer Service is executed the balance of your payment account with the Old Bank must be sufficient to cover the costs for the Transfer Service.

If you have authorised someone else to give instructions with regard to your account with the Old Bank, this authorisation does not necessarily apply to your account with the New Bank . You should sign a new proxy statement (possibly with other terms) with your New Bank if desired.

For legal entities the Application Form has to be signed by representatives who are known both with the Old Bank and with the New Bank.

During the period of execution of the Transfer Service with the Old Bank and the New Bank you cannot give instructions in relation to the Securities to be transferred. During this period you might have a price risk without the ability to intervene.

If you have ongoing orders you may cancel them before submitting the Application Form, or wait with handing in the transfer order until your current orders have been executed.

If, in your opinion, the processing of the transfer does not proceed in accordance with the in the General Conditions specified Terms and time lines, you should contact the New Bank (and possibly the Old Bank).