Guide: How to Transfer your GStocks PH / AB Capital Stocks to a Different Broker

Introduction

I’ve recently transferred my stocks from GStocks (my first broker) to Dragonfi last week and I wanted to document the process as I’ve not found any from the web when I was researching the process myself. They didn’t even have the right form on the AB Capital website and through my correspondence with them they kept changing the form and updating instructions. So if you’re planning on switching brokers or just transferring some stocks, this is the guide for you.

What are the fees?

But first, the fees. It’s P75 per stock per broker. If you’re transferring two different stocks e.g., AC and SMPH to a different broker, the transferring broker will charge you P150 and the receiving broker will charge you P150 with a total cost of P300 in total. You will also have to send the stock transfer form to AB Capital, the broker for GStocks PH, so factor in the delivery/courier fees unless you will be availing their messenger option (Metro Manila only).

How long does it take?

According to Dragonfi’s page, it normally takes 1-3 business days but from my experience it took 5 business days. Your mileage may vary depending on your current broker processing the transaction.

What’s the step-by-step process?

1. Download AB Capital’s Stock Transfer form here.
2. Print the form and fill it up. The average cost for each stock can be found in your portfolio page in GStocks PH or in AB Capital’s web app if you’re not a GStocks PH user. Make sure to also follow your receiving broker’s instructions such as Dragonfi’s which requests you to include your Dragonfi account number.
3. Scan the accomplished form and send this to gcashcs@abcapital.com.ph (if GStocks PH user) or customerservice@abcapital.com.ph. They will validate the information in your form and confirm if you can deliver the physical document to them.
4. Before sending, ensure your GStocks PH or AB Capital account has enough balance to cover AB Capital’s fees (P75 per stock). The receiving broker will charge their fee once they receive your stocks (also P75 per stock). In my case, Dragonfi waived my fees (they waive stock transfer fees for stocks amounting to 50k and up)
5. Once AB Capital confirms that your stock transfer form is okay, you also need to include a photocopy of a valid ID with your form, you can send your documents to them. I recommend putting both in an envelope. For people within Metro Manila, they offer their messenger to pick the documents (I believe this is for free). I sent mine through Grab delivery because I didn’t want to wait. For outside Metro Manila, you will have to use LBC or some other courier and send it to: 12th Floors PSE Tower, 5th Avenue corner 28th Street, Bonifacio Global City, 1634 Taguig City, Philippines
6. Lastly, send your receiving broker a digital copy of the stock transfer form you submitted to AB Capital.

Conclusion

It’s unfortunate that you still have to print and scan the form and send them physically to AB Capital. I’m unsure if this is the case for all brokers, maybe the PSE can force this process to be smoother, turning this to an all digital process, because I don’t expect stock brokers to voluntarily make the process of transferring your assets to another broker any easier without new regulations or guidelines.