Q & A

An Irish Times guide to the world of personal finance -  this week Dublin Savings Bank, Selling shares and First Active

Dublin Savings Bank

I recently discovered a Dublin Savings Bank account book in the name of my late father who died in January 2000. The account was opened in 1970 and the last entry in the book was made in July 1971. Since then the balance of £200 has remained untouched.

Permanent TSB (successor to the Dublin Savings Bank) has acknowledged that the account was opened but says that it is no longer active.

What steps should the executor of my late father's estate take to release these funds, and is interest due on the capital sum in the account since 1971?

Mr J.W., Dublin

Taking your second point first, the fact that the account is not active should not impact on the question of interest. While this will not automatically be added to the account during the period in which it is not active, as soon as the account is reactivated, any interest due will be credited to the account.

Turning to the main point regarding access to the account, it seems you have cleared the first major hurdle, which is tracking down the account and getting Permanent TSB, which took over TSB, which itself subsumed the Dublin Savings Bank earlier, to acknowledge that the account is there, albeit inactive.

From here, you need to get the solicitor for the executor to contact the head of administration at the bank (whose name I can give you if you contact me by phone at The Irish Times) with as much detail as you have about the account - such as the name or names on the account, when it was last accessed and, most importantly, the account number, which you should have from the book you found.

Any other related documentation would also be helpful.

If there is no solicitor acting for the executor of your father's estate, the bank may require a grant of probate from the courts - basically to confirm who is entitled to any funds in the account.

Selling shares

I have recently being sent share certificates from a company I used to work for a couple of years ago. I am now interested in selling these shares but I have no idea who to approach or how to go about doing so.

As the value is not worth much more than €1,000, I do not know what company would deal with such a small holding. Can you please advise as to where and how I can sell these shares?

Mr D.O'R., Dublin

It is not really complicated but your decision depends on whether share ownership is something you intend to pursue in the future. Several of the Irish stockbrokers have online facilities but it is hardly worth your while if this is a one-off transaction and you have little interest in share trading in the future.

On the basis that that is the case, you can approach any of the stockbroking companies. Charges vary.

Taking the largest players in the Irish market, Davy has a minimum commission charge of €25 or 0.75 per cent on transactions up to €25,000 and its largest rival, Goodbody, charges a minimum of €32 per trade or 1.25 per cent up to €25,000.

You might find slightly better value elsewhere but it is a pretty competitive market and there is unlikely to be too wide a gap between the big two and their smaller counterparts - NCB, Merrion, ABN-Amro, BCP, Bloxham, Dolmen Butler Briscoe, Campbell O'Connor and Fexco.

The main thing is to hold on carefully to your share certificate. It is your sole proof of ownership and you will need to give it to whichever broker you eventually decide to get to act for you. Unless you are looking at setting a price below which you will not sell or need other advice - unlikely in a one-off transaction of this nature - you can pay less by asking for an execution-only service.

This essentially means that the broker will simply take your certificate and sell it at the best price they can get on the day.

First Active

I am a shareholder in First Active and I am utterly bemused by the behaviour of the shares in the market. Over the past six months or so, First Active shares keep juggling up and down in a range between €4.80 and €4.95. They never go lower than €4.80 and never higher than €4.95. Can you explain why the shares are trading in such a narrow band?

Mr K.S., Kildare

Now, you're not being quite fair to First Active. Apart from anything else, to trade in a relatively stable manner in a market that has given up almost a quarter of its value in the year to date would be no mean achievement, As it happens, First Active has done even better.

Having opened this year at €3.25, the mortgage bank's shares rose as high as €5.30 by mid-May as the bank continued a recovery in its financial situation before coming back slightly to the present range.

That performance probably ranks it among the top stocks on the Irish market in this turbulent year.

Having said that, the range is not at all as tight as you suggest with the stock fluctuating between €4.25 and €5 since the start of July alone.

Overall, however, it is true that the shares are generally trading in a reasonably narrow range and with remarkable stability. As you note, one day's gains tend to be reversed by the next day's retreat. The reason for this is that the market has decided that First Active has found its post-recovery level. The remarkable rise earlier in the year came as the market re-rated upwards a bank that had previously disappointed but was being seen to get its house in order.

Similarly, it is not falling along with so many other stocks because the steps it has taken to address its previous problems are seen as laying a firm foundation for the company going forward - no nasty shocks are expected by the market.

The toing and froing to which you refer reflects the taking of profits when the share is seen as rising higher than its fundamentals and the current state of the market justifies and, conversely, the speedy buying of the stock when it is seen to be falling lower than its financial performance would warrant in a market with few safe bets.

In the current circumstances, you would find many stock market investors who would be praying for the very lack of volatility that concerns you.

• Please send your queries to Dominic Coyle, Q&A, The Irish Times, D'Olier Street, Dublin 2 or e-mail to dcoyle@irish-times.ie. This column is a reader service and is not intended to replace professional advice. Due to the volume of mail, there may be a delay in answering queries. All suitable queries will be answered through the columns of the newspaper. No personal correspondence will be entered into.