Charges for Reissuing Share Cheques ?

jdybnsn · 8 December 2011 at 1:02AM

I recently found 3 dividend payment cheques that my husband had not cashed :mad: . Dont get me started - but this is why he now has his dividends paid directly into his bank account!!!

They were way out of date so we retuned them. We specifically requested for the money to be paid direct into his bank account rather than rei-ssuing cheques - which should not be difficult...as now they already have all his current account details for present payments.
However, after many weeks we received a sandard letter saying that only cheques can be reissued and added to this were informed that there will be a £12 charge attached to each one - so, out of the £94 of dividends due, they will be taking a hefty £36 !!!

Can anyone advise why the share adminstration company (Equiniti) cannot simply send us the money by BACS ??

Has anyone managed to avoid these charges and if so how ?
PS Please abstain from the lecture about cashing the cheques the first time round, as I have already delivered this to him several times over !:D

opinions4u · 8 December 2011 at 7:58AM

I hate the charges. I had to pay them when winding up an estate (well, the estate paid them, but there you go).

But even if they send the payments by BACS, you are putting them to additional work over and above what they originally expected, so I'd expect the charges to be the same.

Slap the hubby again, pay the fees and get future payments paid directly in to your bank account.

Charges for Reissuing Share Cheques ?

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