Your benefits as an OP cooperative bank owner-customer
- Book-entry account and custody €0: Custody of Finnish and foreign shares and ETFs without monthly charges.
- Discount on share trading: Brokerage fee 0.17% (at least €7), maximum trading fee for Finnish shares and ETF products 1% until August 2021.
- Equity analyses €0
You can transfer your custody (Finnish equities) to OP Financial Group free of charge.
What is a book-entry account?
A book-entry account is an account for managing and storing electronic securities, such as shares and bonds. When investors buy book-entry securities, they do not receive any physical share certificate, promissory note or other security paper, but ownership is recorded directly in the book-entry account. In other words, the book-entry account is an electronic custody account for securities.
Information recorded in the book-entry account includes the owner of the book-entry securities in the account, the number of book-entry securities and their type. Account details also specify the rights and limitations of the owner of book-entry securities.
Book-entry account is essential for many investors
A book-entry account is like a bank account and subject to register confidentiality. However, only securities can be kept in a book-entry account. That means you cannot deposit money into a book-entry account and so cannot withdraw money from it or use it to pay bills.
In addition to a book-entry account, you will also need a separate common bank account into which possible dividends can be paid. It will also be used for other money transfers related to stock transactions and possible service fees.
At the end of each year investors will receive an account statement of their shareholdings and returns, such as dividends. This information is needed for taxation purposes. Tax authorities will automatically receive information on investments, but it is advisable to also check this information yourself.
It is not necessary to automatically keep all securities in the book-entry account. However, the custody of and trading in stocks of listed companies always take place specifically in the book-entry account. Some unlisted companies also have transformed their shares into book-entry securities, in which case they must be kept in the book-entry account.
How to open a book-entry account
If you already use OP eServices, you can open a book-entry account and securities custody easily by yourself on OP eServices by selecting one of the investment service packages: the Saver’s package or the Investor’s package.
Our services for stock investors consist of two packages depending on trading activity. Both of them automatically include securities custody and a book-entry account. Both service packages also include extensive, high-quality Finnish equity research services.
Select the Saver’s service package if you trade less actively and if comprehensive, high-quality basic services are sufficient for you. The saver's service package is free of charge for owner-customers.
If you trade on a weekly basis or so or wish to track the stock market in real time, we recommend the extensive Investor’s service package. If you wish, you can supplement this package with more extensive real-time market information than included in the standard package at an additional fee.
If you do not yet have an OP eServices agreement, please contact your nearest OP cooperative bank, our telephone service or leave us a contact request, so that we can get back to you as soon as possible.
If your securities custody is transferred to OP from another custodian, please be prepared for a break of five weekdays in your stock trading.
Make the most of the benefit and start investing in stocks
As an owner-customer, it is easy to begin investing in stocks by activating the free saver’s service package.
In addition to the free saver’s service package, owner-customers are entitled to other benefits in stock trading. Owner-customers are automatically upgraded to the second fee level, where the trading fee is 0.17% of the transaction price, or a minimum of 7 euros per completed transaction.
Furthermore, for owner-customers the maximum trading fee for trading in Finnish shares (Helsinki and Stockholm) is one per cent (1%). See the list of service charges and fees.