Direct Register Shares from OpenBank

Updated: Nov 8

OpenBank does not direct register shares, so you need to transfer your shares to another broker that can DRS transfer.


OpenBank may charge a fee for each Basic FOP Transfer. This means each time you want to transfer a specific stock (no matter how many shares) you are charged a fee. A popular route has been through Interactive Brokers (IBKR), as they are available internationally and can DRS transfer for $5(US).


The quickest way is to open an Interactive Broker account, buy a share, and request a DRS transfer (link to guide here). While you wait for your Computershare account to be created, you can transfer your shares from OpenBank to IBKR with a Basic FOP Transfer ? fee, then from IBKR to Computershare via DRS transfer for a $5(US) fee.

How to Transfer:

Once your shares are settled in OpenBank, you can send them a Letter of Instruction, which IBKR can create for you.


Making the Letter of Instruction with IBKR:

  • Login in your IBKR account, and click on “Transfer & Pay” from the top menu and select “Transfer Positions”.

  • On the next page select “Incoming”.

  • On the next page select “All Other Regions” from the drop down menu.

  • On the next page select “Basic FOP Transfer".

  • Select "OPENBANK" on the drop down list.

  • For “Your Account Number at the Financial Institution" put your OpenBank account number. 

  • For “Name of Account Holder at Financial Institution“ put your full name as defined on your OpenBank account. 

  • Select the Account type (most likely individual).

  • Select the country of the Financial Institution where you access OpenBank from.

  • For the contact email put “OPENBANK EMAIL NEEDED".

  • You have to add the asset you want to transfer, click on “Add Asset".

  • On the next page search which stock you'd like to transfer (GME), click on “Search".

  • On the next page, click on the row “GAMESTOP CORP- CLASS A / NYSE".

  • On the next page, define how many shares you'd like to transfer and click on “Save and Finish".

  • On the next page you'll see a summary of the transfer. Write in your name as it shows on the page and click on “Continue”.

  • Interactive Brokers will then generate a Letter of Instruction for you. Click on “View Form”, then click on “Print”.

  • Print, sign, and scan the form back in.


Once the Letter of instruction is signed and scanned in send an email to: OPENBANK EMAIL NEEDED

  • For the subject write: FOP Transfer Out Request (OpenBank account number).

  • For the message write: “I would like an Outbound DRS Transfer as detailed in the attached Letter of Instruction".

  • Attach the Letter of Instruction.

  • Click on "Send".

The transfer will be processed within 1-2 weeks. You will receive an email confirming that the transfer was successfully performed. 

After your shares reach IBKR:

Now you are able to request the DRS transfer from IBKR to Computershare. To do this you can follow our guide on how to DRS transfer from IBKR (link to IBKR guide here).

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