ProSearch Scam

Witterings · 20 May 2013 at 8:32AM

Many thanks for that !!
I think I got them as I had a mortgage with them but I was fairly sure I cashed them in at the time which is over 8 years ago unless we sold the Mrs ones and I kept my own in which case it's a nice little windfall in these hard economic times !!!

Many thanks for your input will give them a follow up !!!

mlz1413 · 11 July 2013 at 10:56PM

Hi all, i wanted to pick your brains on best practice re Prosearch.

my mum has just received a letter from this company but it only asks if she used to live at an address, which she did 20 years ago, and says that they have been appointed by a 'major corporation', no logos other than their own.

As there is no information of what company the shares (I presume it's shares!) are from what is the best way to avoid using Prosearch and therefore having to pay the excessive fees?

There is no fee info on this letter just ways to contact them to confirm name and current address.

So do we answer and find out more info
Or go straight to Equiniti - but if we do that what do we ask?

Thanks for any help

bajangal · 12 July 2013 at 9:24AM

mlz1413 wrote: »

Hi all, i wanted to pick your brains on best practice re Prosearch.

my mum has just received a letter from this company but it only asks if she used to live at an address, which she did 20 years ago, and says that they have been appointed by a 'major corporation', no logos other than their own.

As there is no information of what company the shares (I presume it's shares!) are from what is the best way to avoid using Prosearch and therefore having to pay the excessive fees?

There is no fee info on this letter just ways to contact them to confirm name and current address.

So do we answer and find out more info
Or go straight to Equiniti - but if we do that what do we ask?

Thanks for any help

For me Equiniti fees were higher than ProSearch.
I would confirm address and see what else they have to say.
If you want to go direct to Equiniti, then use reference number (if given) on ProSearch's letter - or just phone them and give your mum's surname. They will ask some other information about your mum, and then tell you what outstanding money they have for you.

Guppy12 · 19 July 2013 at 12:10PM

Hi
I received a letter out of the blue stating I was entitled to £100+. All I had to do was ring their convenient 0800 number, fill out the official looking form and they would send me the money...... less their fees.
Instead I wrote a brief letter to Equiniti the proper registrars who own Prosearch together with my Share certificate and the money was sent for free.
Which method would you choose????

Raksha · 20 July 2013 at 1:12PM

mlz1413 wrote: »

Hi all, i wanted to pick your brains on best practice re Prosearch.

my mum has just received a letter from this company but it only asks if she used to live at an address, which she did 20 years ago, and says that they have been appointed by a 'major corporation', no logos other than their own.

As there is no information of what company the shares (I presume it's shares!) are from what is the best way to avoid using Prosearch and therefore having to pay the excessive fees?

There is no fee info on this letter just ways to contact them to confirm name and current address.

So do we answer and find out more info
Or go straight to Equiniti - but if we do that what do we ask?

Thanks for any help

My OH had a similarly worded letter this morning, only the previous address is not ours.

mrbroons · 2 September 2013 at 1:29PM

I have recently had the standard letter. At the bottom of my letter it says that ProSearch Asset Solutions Ltd is a subsidiary of Equiniti Limited and part of the Equiniti group of companies? They are definitely related whatever they say to you on the phone.

Browntoa wrote: »

looks like prosearch make there money by doing this and have no links with the BT share registrars Equiniti

about o2 shares but same scam

Thank you to both of you who replied to my request for help. I phoned Equiniti on 0871 384 2883, and was advised to send my share certificates directly to them, with a covering letter. They did tell me that ProSearch were not in any way affiliated to them, and did searches for people who had not cashed in their shares, and charged a premium for arranging the cashing for them. I was alarmed by the 25p per share premium, which would have meant about £300 going to them and coming off my shares value. I am very grateful to you two, and to Equiniti for the sound advice.

craigdarroch · 3 September 2013 at 5:01PM

I received a letter from Prosearch today telling me I had £51.62 due to me from old HBOS shares. For 12.5% plus VAT (about £8) they will send me the money. I phoned Equiniti (who work for Lloyds) and they told me I had been sent a cheque in 2007 which was uncashed. They would not consider the possibility that they had not sent it ("It's on our system and the Postal service is nothing to do with us") and offered to send me a new cheque for a fee of £20 "that has been agreed between Equiniti and Lloyds" and is not open to negotiation. I have long since ditched all my HBOS paperwork so I'm just going to be philosphical about it - after all, I'll end up with about £43 that I didn't know about so I'm still up on the deal. I suppose they could have kept quiet about it and I'd never have been the wiser.:o

gary38uk · 4 September 2013 at 9:40PM

jaks wrote: »

Hi Simmo

I have just received an identical letter to yours in terms of its content and would be interested to know the outcome of any enquiries you may have made. I've looked on the Lloyds Banking Group plc website and there was a link to Equiniti (and Prosearch are evidently a subsidiary as other posters have said). In my case, the shares were those of my late stepmother. It seemed to be legitimate given that there is an option to donate the money to Save the Children - but then this forum would suggest otherwise. It's nevertheless very odd (given that stepmother died over 10 years ago and I've not changed my address).

me too if you had any feedback?

got a letter today.
a massive £9 owed to me.
i have a very small number of shares.
not moved address for years.
have received statements and voting forms and all the other usual stuff you get. so can not see how i have unclaimed money. unless a dividend payment has been lost in the post or something.
But would think lloyds would try to contact first before passing it to someone else?

JoJoZara · 6 September 2013 at 2:17PM

I received a letter today from ProSearch saying I was owed £88.16 share dividends from allegedly cheques not cashed or gone astray. They would recoup the money for me for a charge of 12.5% plus VAT and they had been 'appointed' by Lloyds to 'communicate' with me. VERY FISHY!!! I thought. So rang the free phone number, told them I had no intention of paying any charges and asked for a direct number for Lloyds to sort this out myself. Given 0871 3842990 - rang this - "Lloyds Shares Help Line". A nice guy told me I'd been sent 3 cheques over 10 years ago by the 'previous' administration. He could sent me the money owed but with a £20 charge. I said no way had those cheques been sent and 'lost' or not cashed and I wanted the money and had no intention of paying £20 for it and it seemed like another 'bank scandal' in the making and asked to speak to his supervisor. He spoke to his supervisor, came back, and told me the amount would be sent in full and the charge waived. SORTED!

jumbly · 8 September 2013 at 9:32AM

Having read through this thread after coming across it after googling prosearch, I can't believe this dodgy(at best!) practice has been allowed to go on so long.
I was prompted by a letter from them about some old BT shares, which said I was entitled to around £700, which coming as it did immediately in the wake of a car repair bill of £500, seemed like a gift from the gods - i.e. too good to be true!
And of course, so it proved, but in my then state of mind, I almost filled in the form to send off.
It's all very well some people commenting on here that people shouldn't be so naive, but when you're desperate, and it purports to have links to a reputable company, it's easy to just accept it as good fortune (never look a gift horse in the mouth etc.)
Makes you wonder how dodgy Equiniti themselves are if they are indeed owners of this Prosearch company which engages in such sharp practice...

ProSearch Scam

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