Unreasonable Equiniti Admin Fees

ItchyFeet

Hi,

Last week i phoned Equiniti to request that any unclaimed dividends for my shares were reissued which they agreed to.

Today i received 4 reissued cheques for varying amounts. However, 3 of them say that Equiniti have charged an admin fee of £11.50 to cover costs and that it has been taken from the attached payment.

I accept that it's probably reasonable for them to charge an admin fee to reissue cheques, but £11.50 per cheque seems outrageously unreasonable.

I presume this is usual practice, but do i have to accept it, or does anybody know a way around this?

Many thanks.

noh

£10 + VAT seems a reasonable amount to charge to re issue a cheque.
Why do you think you shouldn't have to pay?


https://www.shareview.co.uk/helpcentre/Pages/faq14.aspx

dzug1

It will also cover an element of insurance agains duplicate payments

ItchyFeet

dzug1 wrote: »

It will also cover an element of insurance agains duplicate payments

Thanks dzug1 - that makes a bit more sense now. It was a bit of a shock to me because i hadn't thought to expect it (naiive i know), but i feel a bit better about it now if others don't think it's extortionate.

turbobob

dzug1 wrote: »

It will also cover an element of insurance agains duplicate payments

If you have the original cheques and can return them will they make the same charge? I expect they will but just wondered.. I recently found a couple of small dividend cheques from years ago that I neglected to bank :rolleyes:

noh

turbobob wrote: »

If you have the original cheques and can return them will they make the same charge? I expect they will but just wondered.. I recently found a couple of small dividend cheques from years ago that I neglected to bank :rolleyes:

There is no charge if the cheque is under £30 see link to faqs
https://www.shareview.co.uk/helpcentre/Pages/faq13.aspx